If you bought a multifamily property in 2022, it is likely worth considerably less now because higher Interest rates have driven prices down. Additionally, new supply has negatively impacted rent growth in many markets, which has further created downward pressure on prices. Declining rents, higher vacancy, and increased expenses has burdened operators. The long-term prospects for workforce housing are very strong because of a national housing shortage, but several challenges are making it difficult in the short-term. Jordan Fisher, Principal of Next Wave Investors, is navigating these choppy waters. Jordan is an excellent value-add operator of mostly C and B class properties, and has generated great returns for his investors.
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