767: Multifamily Market Update + What a 20 Year Veteran Knows That You Don’t w/Angie Smith
The multifamily market is about to buckle. With sellers still riding the highs of 2022, buyers are at a crossroads; keep pursuing deals or wait for the market to go south. And, with mortgage rates rising and short-term financing coming due, many multifamily owners could be forced to sell their properties to the highest bidder. While some of this may sound like speculation, we’ve got a multifamily forecast straight from an expert in the industry, Angie Smith, from Strategic Management Partners.
Angie and her company manage 25,000 rental units at a time. Yes, you read that right! For the past decade, Angie has been the go-to manager for top apartment complexes across Georgia, dealing with everything from noisy tenants to in-unit farms and goat grilling operations (seriously). She knows the ins and outs of property management, what makes a good property manager, and why self-managing isn’t always the wisest move.
In this episode, Angie gives her take on the 2023 housing market and when she thinks multifamily will start to get shaky, why most investors are wrong about property management, how to choose a property manager, and the questions you should ask ANY management company before you hire them. If you want TRULY passive income through real estate, you DON’T want to manage your rentals alone.
In This Episode We Cover
2023 multifamily market updates and when prices could start to fall
Lessons learned from managing 25,000 rental units, plus an INSANE story about an in-unit butchery
Third-party property management vs. self-management (and who can handle it)
Three questions to ask ANY property manager before you hire them
“Receivership” and what happens to owners who can’t pay their bills
What you should NOT ask a property manager to do on your behalf
And So Much More!
Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-767
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