Think Multifamily Podcast

If you asset manage long enough, you'll deal with a homicide, an arson, or a car crashing into your building. That's not worst-case — that's Tuesday. In Part 2 of this conversation, Mark Kenney sits down with his twin brother Mike Kenney — a 20-year real estate veteran — to go behind the scenes on what multifamily asset management actually looks like. No theory. Just real situations, real decision...

Most people think they want to be a multifamily asset manager. Then they actually do it. In Part 1 of this two-part series, Mark Kenney sits down with his identical twin brother Mike Kenney — a 20-year real estate veteran — to break down what the asset management role actually involves, why so many investors underestimate it, and what separates the people who thrive in it from those who burn out....

30% of zero is still zero. And right now, a lot of syndicators need to hear that. In the final episode of this three-part series, syndication attorney Dugan Kelley delivers the conversation most GPs are actively avoiding — what to do when your property is in trouble, your loan is maturing, and every option in front of you is a hard one. In this episode you will learn: • Why the ostrich effect — bu...

Your loan documents will determine how creative you can get when your deal hits trouble. Most syndicators don't find that out until the crisis is already here. In Part 2 of this series, syndication attorney Dugan Kelley breaks down the legal and financial tools available to operators in distress — and explains why lenders right now are more open to working with you than you might think. In this ep...

Transaction volume in multifamily is down 60 to 70%. The syndicators still winning are the ones using deal structures most people haven't touched in years. In Part 1 of this three-part series, syndication attorney Dugan Kelley — a 23-year legal veteran and trusted advisor to Think Multifamily for over seven years — breaks down exactly what has shifted in the acquisition market and what operators,...

Think Multifamily teaches deal analysis over three full days. What Mark shares in this episode is the condensed version — and it's still more actionable than most full courses on the subject. In this solo episode, Mark Kenney walks through the exact questions he asks when a coaching client submits a multifamily deal for review. From the first pass to exit assumptions, this is how experienced opera...

Most multifamily investors know they need brokers — but very few know how to actually work with them. In this solo episode, Mark Kenney breaks down the rules of engagement with commercial multifamily selling brokers, from your first interaction to the day you sell the property years later. In this episode you will learn: • How commercial multifamily brokers differ from residential agents — and why...

Most investors know their bridge loan includes interest reserves and CapEx funds. What they don't know is what happens when they don't use them correctly — and by the time they find out, it's usually too late. In this solo episode, Mark Kenney walks through everything lenders won't volunteer upfront about interest reserves and CapEx funds, including the real-world mistake that left one borrower re...

When a seller says the loan must be assumed, do you know what that actually means — and what your real options are as the buyer? In this solo episode, Mark Kenney demystifies loan assumptions in multifamily investing: why sellers use them, what lenders are looking for, and the key details that most buyers overlook until it's too late to fix them. In this episode you will learn: • The real reason s...

What does it actually look like when multifamily investors use virtual assistants and AI in their day-to-day business? Not the theory — the real workflows, real costs, and real trade-offs. This episode takes you inside a Family Syndication Group members-only call, where three investors share exactly what they're doing and how it's working. In this episode you will learn: • How Jeff McKee grew his...

Airbnb just launched a program that lets your residents legally host on Airbnb — with your permission, a revenue share back to you, and free marketing from Airbnb. But what does that actually mean for multifamily owners and syndicators? In this episode, Jesse Stein, Airbnb's Global Head of Real Estate, walks through exactly how the Airbnb-friendly apartments program works — and Mark Kenney asks th...

Is multifamily in trouble — or is everyone asking the wrong question? In this solo episode, Mark Kenney cuts through the noise, identifies what's actually driving the pain in today's market, and makes the case for why multifamily still wins as a long-term investment — even now. In this episode you will learn: • Why variable-rate debt — not multifamily as an asset class — is the real culprit behind...

If someone is asking you to put more money into a multifamily deal, do you know what you're actually being asked to do? And do you know what happens if you say no? In this solo episode, Mark Kenney walks through every option available to a struggling syndication — member loans, capital calls, recapitalization, new offerings, and outright sale — and what each one actually means for GPs and LPs. In...

Most multifamily content focuses on how to find deals. This episode focuses on what to know before you invest in one. Tamiel Kenney — 28-year investing partner to Mark and a GP on over 120 deals — takes the mic solo to cover the fundamentals that newer investors get wrong and the structural advantages of multifamily that experienced investors keep coming back for. In this episode you will learn: •...

The offering memorandum is a marketing document. Some of the numbers in it are wrong — and a few of them are deliberately wrong. In Part 2 of the Live Deal Analysis Workshop, Mark Kenney works through the questions most investors don't know to ask: how to read occupancy without trusting it, what "free and clear" actually means, and why a single property tax line item can quietly cost you hundreds...

What does 30 years and 119 deals actually teach you about analyzing multifamily investments? In Part 1 of the Live Deal Analysis Workshop, Mark Kenney puts you in the room. This is a raw, unfiltered recording from a Think Multifamily live event — deal criteria, property classes, building red flags, and why the offering memorandum is a marketing document you should never fully trust. In this episod...

There are things hiding in your loan documents that your lender will never volunteer. In Part 2 of Multifamily Money Matters, mortgage broker Brandy Shotwell and Mark Kenney get specific. Loan rebalancing demands, interest reserve replenishment traps, operator-lenders who can take your property — and the market characteristics that quietly kill your financing options before you even apply. In this...

Most multifamily investors go directly to a lender they know. Most of them are leaving better terms, more options, and real negotiating leverage on the table. In Part 1 of Multifamily Money Matters, mortgage broker Brandy Shotwell joins Mark and Tamiel Kenney to break down what's actually happening in commercial real estate lending — and what investors need to know before their next loan. In this...

The multifamily market in 2023 looks nothing like it did 18 months ago — and some of what's happening right now can wipe out an entire deal or hand the keys to someone else without warning. In this solo episode, Mark Kenney shares his unfiltered market outlook and breaks down the specific forces investors need to understand going into the year. In this episode you will learn: • Why Mark doesn't ex...

One line item change — property taxes — turned a 22% IRR into a negative 10%. That's what happens when investors skip the fundamentals. In this solo episode, Mark Kenney walks through the core concepts every multifamily investor needs before they underwrite their next deal: cap rates, economic vacancy, income growth assumptions, and the specific red flags that reveal a pro forma built to sell rath...

Your investors are already in your phone. The only thing stopping you from reaching them is the story you're telling yourself about why you shouldn't. In the final segment of the investor list series, Eric Mattingly shares the exact process he used to raise $15 million starting from zero, and Keely Hubbard delivers the mindset reframe that makes non-salespeople into effective capital raisers. In t...

How many investors do you actually need to raise $10 million? What happens when you ask an investor for the wrong amount? And where are the high-net-worth individuals who aren't already getting pitched by 50 other syndicators? In Part 2 of the investor list series, Keely Hubbard and Eric Mattingly break down the investor math most syndicators skip — and the strategies that put you in front of the...

There's no easy button for finding accredited investors. The syndicators who think there is are burning through marketing budgets chasing lists that will never convert. In Part 1 of this three-part series, executive sales coach Keely Hubbard and DMI Holdings founder Eric Mattingly share the only approach that actually works: organic lead generation, niching down, and knowing where high-net-worth i...

If you're still underwriting deals the same way you were 12 months ago, you're leaving yourself exposed. The market has changed — and so has Think Multifamily's approach to financing, underwriting, and deal selection. In Part 2 of the Becoming a Multifamily Sponsor series, Mark Kenney tells Tyler Lyons what the KPIs for a new sponsor actually look like, how to build real broker credibility fast, a...

Most people who want to become a multifamily sponsor think the barrier is knowledge. It isn't. In Part 1 of this two-part series, Mark Kenney tells Tyler Lyons of the Cash Flow Connections Real Estate Podcast what actually separates investors who break through from those who don't — and what the common mistakes look like before you ever close your first deal. In this episode you will learn: • The...