Hey Friend, Steve here with really some good news for multifamily investors.  Rental rates and occupancy are strong across the country, largely fueled by the single-family home, affordability gap.

There is presently a nationwide shift to renting.  If we look back over the last 24 months, we see a steeper climb to home affordability.  According to data from the Federal Reserve in March 2021, the average 30-year fixed-rate mortgage was 3.18%.  And, the average home sales price was $418,600.

Now look at June of this year, the 30-year fixed-rate mortgage for a single-family home on average is over 7%!  And, at the end of the last quarter of last year, the US home sales price jumped to $535,800; holy cow.

So, mortgage rates have more than doubled, home prices jumped to 28% in about a two-year period.  Tuff time to afford a new home.

Homeowners with existing low rates are just staying put, and not that excited about selling their homes and having to face higher interest rates today.

And that combination has benefited multifamily investors because would-be homebuyers are renting. The affordability gap between home ownership in renting has widened dramatically. 

Every day we see apartment deals that we finance with occupancies in the 98% range.  YIKES, that’s good news for multifamily investors.

Now, here is a bonus for you because you joined us on a recent Multifamily Deal Room webinar. (Every Thursday at 7 PM central)

Pay only 0.80% origination fee if your multifamily deal is submitted in June. Applies to loan amounts of $1,000,000.00 or more.

HERE IS HOW we can fund your next deal and assist with digging for hidden treasure with multifamily investing!