Are You a Multi Family Sheep Being Lead to the Slaughter

[Adam Bartomeo]

Years ago I learned that when everyone is headed in a direction that you need to pay close attention to what is going on to avoid pitfalls. When my chiropractor started telling me that he was going to buy two rentals and he knew absolutely zero about it. I knew he was a sheep and things were going to go south.

Today I here a lot of newbies talking about buying multi family properties. And, call it what you will - spidey senses, 6th sense, a Mayan warning - I smell sheep. 

Prices are rising, cap rates are falling, investors are chasing 4% returns, and money keeps pouring in. In my opinion this type of frenzie is unsustainable.

Are these folks just sheep or am I just being over cautious?