By Ken Lundin, Author, Operator and Investor I’ve watched 30+ multifamily deals crater. The operator could execute the business plan. But the legal environment made execution impossible. The pattern is consistent. Investors spend 40…
By Ken Lundin, Author, Operator and Investor I’ve watched sponsors blow $40M equity checks in markets where rent growth looked bulletproof. They didn’t miss the fundamentals. They ignored the 2,400 units already under construction.…
By Ken Lundin, Author, Operator and Investor I’ve reviewed more than 200 multifamily underwriting models in the last 30 years. I’ve never seen one that accurately predicted what the property would actually cost to…
By Ken Lundin, Author, Operator and Investor Most investors analyze multifamily markets backward. They start with population growth. Then they cherry-pick data that confirms what they already want to believe. I’ve watched this pattern…
I’ve watched underwriting multifamily deals blow up more times than I can count. It’s almost never the spreadsheet that kills you. I’m Ken Lundin. After 30 years of watching operators chase yield into bad…