@Matt Smith generally speaking it’s a combination of rising interest rates which have caused cap rates to increase (thus wiping out equity), debt is resetting at higher rates, rising opex costs due to inflation and stagnant or softening of rents due to an increase of supply.

The 1031 first would make sense if you needed to reposition to make it more attractive for a refinance or move it to increase cash flow first or change sectors. 

From my experience, one of the first things I did was choose a specific market to focus on.

First build a team, then build a empire. 

@Thomas FarrellRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

@Arlinda RexhoWhen considering a 32-64 unit multifamily property in Texas, focus on strong locations with population growth, proximity to amenities, and low crime rates.

Hopefully the first of many

.📈 Biggest Mistakes First-Time Investors Make (And How to Avoid Them!)

However, rates are not great right now so taking out the money necessary makes the monthly payback greater than what we could get in rent.  

Usually, a Sub-To deal has a better rate than the market rate and so does seller financing.