Everyone's a genius in a good market (must read article)

[Serge S.]

I have not posted on BP forums in a while but had to share this article Everyone's a Genius In A Good Market

These guys were and are one of the top syndicators in the Phoenix market. They (like many others) were underwriting purchases as late as Q1 2022 with 4 cap exits and 5%+ rent growth. Remember those days of paper $300-$500 rent bumps. Depending the source of your data, rents have deflated 5-6% in Phoenix and being on the ground and in multifamily here, I can tell you that it is very real. 

I get calls all the time from limited partners that got sucked into these deals and my only advice is don't get fooled twice. Stack your cash, it will come in handy soon.