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The broader commercial real estate landscape could see further pricing volatility, especially as distress levels tick upward and financing challenges persist. Multifamily, however, remains more stable, but current, more modest rent growth trends could be a challenge for markets/regions still working through the historic wave of apartment development. Many investors are looking past the current environment into a potential under-supply of apartments in 2026, and the continued divergence among different regions and markets will reward investors who can find opportunity in this current uncertainty.Sources discussed in this episode:MSCI: “Early Warnings of CRE Price Problems” - https://www.msci.com/research-and-insights/blog-post/early-warnings-of-cre-price-problems Trepp: “Investment Yield Spreads: Commercial Real Estate as an Investment Class” - https://www.trepp.com/trepptalk/investment-yield-spreads-commercial-real-estate-as-an-investment-class Marcus & Millichap: “Emerging Cap Rate Spreads and Trends” - https://www.marcusmillichap.com/research/videos/emerging-cap-rate-spreads-and-trends CRED iQ: “CMBS Distress Rate Reaches 11% –Breaking a Streak of 3 Consecutive Reductions” - https://cred-iq.com/blog/2025/06/05/cmbs-distress-rate-reaches-11-breaking-a-streak-of-3-consecutive-reductions/ Yardi Matrix: “Another Month of Steady Rent Gains for Multifamily” - https://www.yardimatrix.com/publications/download/file/7359-MatrixMultifamilyNationalReport-May2025 Learn more about Gray Capital's Midwest Multifamily Fund: https://www.graycapitalllc.com/midwestDownload Gray Capital's latest report: https://www.graycapitalllc.com/midwest-report/Sign up for our free multifamily newsletter here: https://www.graycapitalllc.com/newsletter DISCLAIMERS: This podcast does not constitute professional financial advice and is for educational/entertainment purposes only. This podcast is not an offer to invest. Any offering would be made through a private placement memorandum and would be limited to accredited investors.
Signs of a softening for-sale home market are making some worry about a larger economic downturn, and apartment rent growth has faltered, growing less this year than in the past. That being said, apartment market performance varies considerably from region to region. Midwest and Northeast markets have rent growth close to 3-3.5%, while the South and West are less than 1% (and sometimes negative). Apartment construction trends point to a more balanced market as 2025 moves into 2026, but higher supply markets may take longer to get to this equilibrium.Sources discussed in this episode:GlobeSt: “Experts Warn Housing Could Be the Tipping Point for the Next Recession” - https://www.globest.com/2025/05/28/experts-warn-housing-could-be-the-tipping-point-for-the-next-recession/Cotality: "US home price insights — June 2025” - https://www.cotality.com/insights/articles/us-home-price-insights-june-2025Apartment List: “May 2025 National Rent Report” - https://www.apartmentlist.com/research/national-rent-dataColliers: “Path to Performance: Fundamentals Strengthen in 2025 - Multifamily Capital Markets Report” - https://www.colliers.com/en/research/nrep-uscm-usmf-colliers-capital-markets-multifamily-report-2025Learn more about Gray Capital's Midwest Multifamily Fund: https://www.graycapitalllc.com/midwestDownload Gray Capital's latest report: https://www.graycapitalllc.com/midwest-report/Sign up for our free multifamily newsletter here: https://www.graycapitalllc.com/newsletter DISCLAIMERS: This video does not constitute professional financial advice and is for educational/entertainment purposes only. This video is not an offer to invest. Any offering would be made through a private placement memorandum and would be limited to accredited investors.
In this webinar replay, Spencer Gray and Matt Bastnagel of Gray Capital discuss key trends for housing demand and construction activity, growing apartment investment activity, and the increasing multifamily investment opportunities in 2025.Download the full report at graycapitalllc.com/windowDISCLAIMERS: This video does not constitute professional financial advice and is for educational/entertainment purposes only. This video is not an offer to invest. Any offering would be made through a private placement memorandum and would be limited to accredited investors.
As multifamily starts continue to decline (far more than single family home starts) and both housing demand in general and apartment demand specifically show consistent strength, the case for multifamily asset strength continues to improve. Despite a recent decrease in 10-year treasury yields, elevated interest rates continue to inject a level of uncertainty into the market, but this same uncertainty will lead to some significant investment opportunities, with institutional investors like Apollo showing clear confidence in the multifamily market in their recent $1.5 billion acquisition of Bridge Investment. Sources discussed in this episode: John Burns Research and Consulting: “Multifamily market outlook: 10 insights from the NMHC Annual Meeting” - https://jbrec.com/insights/future-of-real-estate-multifamily-trends-from-annual-national-multifamily-housing-council-nh The Wall Street Journal: “We're Headed Toward a Landlord-Friendly Era. Expect Higher Rent Prices.” - https://www.wsj.com/real-estate/rent-price-increase-landlord-friendly-market-8ec25de5 Bisnow: “REPORT: HUD To Ax Half Of Its Workers, Launch Task Force To Study More Cuts” - https://www.bisnow.com/national/news/top-talent/report-hud-to-axe-half-of-its-workers-128053 Learn about Gray Capital's latest multifamily deal for accredited investors: https://www.graycapitalllc.com/walcott/ Download Gray Capital's latest report: https://www.graycapitalllc.com/window/ Sign up for our free multifamily newsletter here: https://www.graycapitalllc.com/newsletter DISCLAIMERS: This video does not constitute professional financial advice and is for educational/entertainment purposes only. This video is not an offer to invest. Any offering would be made through a private placement memorandum and would be limited to accredited investors.
Apartment fundamentals continue to improve, with multiple data sources sharing a broad consensus of improving demand. Additionally, recent reports project a considerable drop-off in newly-delivered apartments in 2025 and continuing into 2026. As this steady, elevated apartment demand meets a shrinking amount of new supply, we could see noticeably higher rent growth in 2025 and 2026.Sources discussed in this episode:Bisnow: “REPORT: HUD To Ax Half Of Its Workers, Launch Task Force To Study More Cuts” - https://www.bisnow.com/national/news/top-talent/report-hud-to-axe-half-of-its-workers-128053The Wall Street Journal: “We're Headed Toward a Landlord-Friendly Era. Expect Higher Rent Prices.” - https://www.wsj.com/real-estate/rent-price-increase-landlord-friendly-market-8ec25de5Newmark: “United States Multifamily Capital Markets Report” - https://www.nmrk.com/insights/market-report/united-states-multifamily-capital-markets-reportLearn about Gray Capital's latest multifamily deal for accredited investors: https://www.graycapitalllc.com/walcott/Download Gray Capital's latest report: https://www.graycapitalllc.com/report/Sign up for our free multifamily newsletter here: https://www.graycapitalllc.com/newsletter DISCLAIMERS: This video does not constitute professional financial advice and is for educational/entertainment purposes only. This video is not an offer to invest. Any offering would be made through a private placement memorandum and would be limited to accredited investors.
Learn about Gray Capital's latest multifamily deal for accredited investors: https://www.graycapitalllc.com/walcott/Download Gray Capital's latest report: https://www.graycapitalllc.com/report/Sign up for our free multifamily newsletter here: https://www.graycapitalllc.com/newsletter DISCLAIMERS: This video does not constitute professional financial advice and is for educational/entertainment purposes only. This video is not an offer to invest. Any offering would be made through a private placement memorandum and would be limited to accredited investors.
Investor sentiment in the multifamily market has settled into much the same place that it was at the start of 2024, but crucial improvements in multifamily fundamentals have driven more interest in multifamily investment in 2025, despite the added weight of higher-for-longer interest rates.Sources discussed in this episode:NMHC: “Survey of Quarterly Apartment Conditions” -https://www.nmhc.org/research-insight/quarterly-survey/2025/nmhc-quarterly-survey-of-apartment-conditions-january-2025/Trepp: “Office & Multifamily Loans Drove CMBS Delinquencies Higher in 2024” -https://www.trepp.com/trepptalk/office-multifamily-loans-drive-cmbs-delinquencies-higher-in-2024& page 14 ofhttps://www.trepp.com/hubfs/The%20Year%20End%202024.pdf?hsCtaTracking=857fcec0-e018-4417-8a99-ddd9ab61552a%7C717682e1-077f-47bf-9226-e6c614ac4465Freddie Mac: “Positive Outlook for Housing and the Economy in 2025” -https://www.freddiemac.com/research/forecast/20250124-us-economy-grew-stronger-paceMarcus & Millichap: “Will CRE Investors Adapt to Higher Rates?” -https://www.marcusmillichap.com/research/videos/will-cre-investors-adapt-to-higher-rates & “Is Multifamily Poised for a Market Rebound in 2025?” -https://www.marcusmillichap.com/research/videos/is-multifamily-poised-for-a-market-rebound-in-2025GlobeSt: “CRE Deal Volume Rebounds as Price Declines Stabilize” -https://www.globest.com/2025/02/03/cre-deal-volume-rises-and-price-declines-slow/Learn about Gray Capital's latest multifamily deal for accredited investors:https://www.graycapitalllc.com/walcott/Download Gray Capital's latest report:https://www.graycapitalllc.com/report/Sign up for our free multifamily newsletter here: https://www.graycapitalllc.com/newsletterDISCLAIMERS: This video does not constitute professional financial advice and is for educational/entertainment purposes only. This video is not an offer to invest. Any offering would be made through a private placement memorandum and would be limited to accredited investors.
Multifamily investment optimism persists, but expectations have cooled somewhat since late 2024. Persistently-high ten-year treasury yields have changed the prevailing assumptions about interest rates and the multifamily lending market, with higher-for-longer expectations taking hold, moderating the previous optimism about the multifamily investment market, but even if the lending environment remains the same, the near-unanimous consensus of improved rent growth and apartment fundamentals continues to support the strong investment prospects for multifamily, no matter how cold the wind may blow. Sources discussed in this episode: The Wall Street Journal: “U.S. Homes Sales in 2024 Fell to Lowest Level in Nearly 30 Years” - https://www.wsj.com/economy/housing/u-s-homes-sales-in-2024-fell-to-lowest-level-in-nearly-30-years-3ce94fd9. RealPage: “Apartment Rent Growth Expectations at the Market Level for 2025” - https://www.realpage.com/analytics/forecast-takeaways-market-level-2025/ Freddie Mac: “Positive Outlook for Housing and the Economy in 2025” - https://www.freddiemac.com/research/forecast/20250124-us-economy-grew-stronger-pace The Conference Board: "Consumers' optimism about both present and future conditions pulled back" - https://www.conference-board.org/topics/consumer-confidence University of Michigan: "Surveys of Consumers" - https://data.sca.isr.umich.edu/ Fannie Mae: “2025 Multifamily Market Outlook: Clearer Skies Ahead” - https://www.fanniemae.com/media/54646/display Marcus & Millichap: “2025 U.S. Multifamily Investment Forecast” - https://www.marcusmillichap.com/research/market-report/multiple-markets/2025/2025-us-multifamily-investment-forecast Learn about Gray Capital's latest multifamily deal for accredited investors: https://www.graycapitalllc.com/walcott/ Download Gray Capital's latest report: https://www.graycapitalllc.com/report/ Sign up for our free multifamily newsletter here: https://www.graycapitalllc.com/newsletter DISCLAIMERS: This video does not constitute professional financial advice and is for educational/entertainment purposes only. This video is not an offer to invest. Any offering would be made through a private placement memorandum and would be limited to accredited investors.
The Gray Capital team discusses investor and consumer sentiment at the start of 2025, explaining the different trends and expectations for the multifamily market and the economy. Sources discussed in this episode: John Burns Research and Consulting: “Commercial real estate optimism is rising, namely apartments” - https://jbrec.com/insights/investors-optimistic-about-commercial-real-estate-aparments-for-2025/ The Conference Board: “US Consumer Confidence Pulled Back in December” - https://www.conference-board.org/topics/consumer-confidence University of Michigan: “Index of Consumer Sentiment” - http://www.sca.isr.umich.edu/ RealPage: “2025 Apartment Industry Predictions” - https://www.realpage.com/analytics/apartment-market-predictions-2025/ CoreLogic: “Unpacking 2024 Housing Market Trends” - https://www.corelogic.com/intelligence/2024-housing-market-reviewed/ For the latest multifamily news from across the internet, visit the Gray Report website: https://www.grayreport.com/ Download Gray Capital's latest report: https://www.graycapitalllc.com/report/ Sign up for our free multifamily newsletter here: https://www.graycapitalllc.com/newsletter DISCLAIMERS: This video does not constitute professional financial advice and is for educational/entertainment purposes only. This video is not an offer to invest. Any offering would be made through a private placement memorandum and would be limited to accredited investors.
The Gray Capital team reviews the shifts in housing and multifamily at the transition from 2024 to 2025. Sources discussed in this episode: Cushman & Wakefield: “The Tide Is Turning For CRE” - https://cw-gbl-gws-prod.azureedge.net/-/media/cw/americas/united-states/insights/research-report-pdfs/2024/122024chiefeconomistsperspectivev2.pdf?rev=14b033774366436f9b2b3e49f45c1beb&hash=4A92E1939002FB3489EB5122D66A2000 Freddie Mac: “Homeowner vs. Renter Spending” - https://www.freddiemac.com/research/forecast/20241220-us-economy-remains-robust-with-strong-q3-growth RealPage: “Class A Price Premium Smallest in High Supply Submarkets” - https://www.realpage.com/analytics/rent-premiums-high-supply-submarkets/ For the latest multifamily news from across the internet, visit the Gray Report website: https://www.grayreport.com/ Download Gray Capital's latest report: https://www.graycapitalllc.com/report/ Sign up for our free multifamily newsletter here: https://www.graycapitalllc.com/newsletter DISCLAIMERS: This podcast does not constitute professional financial advice and is for educational/entertainment purposes only. This podcast is not an offer to invest. Any offering would be made through a private placement memorandum and would be limited to accredited investors.
Spencer Gray and Matt Bastnagel of Gray Capital discuss their expectations for the multifamily market in 2025, with comments on existing and future trends in the multifamily investment market, housing, and the economy. Download the full 2025 forecast report at graycapitalllc.com/report Sign up for our free multifamily newsletter here: https://www.graycapitalllc.com/newsletter DISCLAIMERS: This video does not constitute professional financial advice and is for educational/entertainment purposes only. This video is not an offer to invest. Any offering would be made through a private placement memorandum and would be limited to accredited investors.
In this edited replay of our live Gray Report video on the recent interest rate decision from the Federal Reserve, Spencer Gray, Jay Reeder, and Matt Bastnagel of Gray Capital discuss the current multifamily market as well as remarks from Federal Reserve Chair Jerome Powell at the September 2024 FOMC meeting and press conference. Sources discussed in this episode: Apartment List: “Apartment List's 2024 Millennial Homeownership Report” - https://www.apartmentlist.com/research/millennial-homeownership-2024 For the latest multifamily news from across the internet, visit the Gray Report website: https://www.grayreport.com/ Sign up for our free multifamily newsletter here: https://www.graycapitalllc.com/newsletter DISCLAIMERS: This video does not constitute professional financial advice and is for educational/entertainment purposes only. This video is not an offer to invest. Any offering would be made through a private placement memorandum and would be limited to accredited investors.
With the Democratic National Convention bringing increasing attention to the policy platform of presidential candidate Kamala Harris, the Gray Capital team breaks down her comments on the economy and housing made during a campaign stop several days before the convention. Sources discussed in this episode: The New York Times: “U.S. Added 818,000 Fewer Jobs Than Reported Earlier” - https://www.nytimes.com/2024/08/23/business/the-big-number-818000-jobs-revision.html The White House: “Remarks by Vice President Harris at a Campaign Event in Raleigh, NC” - https://www.whitehouse.gov/briefing-room/speeches-remarks/2024/08/16/remarks-by-vice-president-harris-at-a-campaign-event-in-raleigh-nc/ Peter Welch (US Senator from Vermont): “Welch and Wyden Introduce Legislation to Crack Down on Companies that Inflate Rents with Price-Fixing Algorithms” - https://www.welch.senate.gov/welch-and-wyden-introduce-legislation-to-crack-down-on-companies-that-inflate-rents-with-price-fixing-algorithms/ The Atlantic: “We're Entering an AI Price-Fixing Dystopia” - https://www.theatlantic.com/ideas/archive/2024/08/ai-price-algorithms-realpage/679405/ Marcus & Millichap: "The CRE Investment Climate Just Changed…" - https://www.marcusmillichap.com/research/videos/the-cre-investment-climate-just-changed For the latest multifamily news from across the internet, visit the Gray Report website: https://www.grayreport.com/ Sign up for our free multifamily newsletter here: https://www.graycapitalllc.com/newsletter DISCLAIMERS: This video does not constitute professional financial advice and is for educational/entertainment purposes only. This video is not an offer to invest. Any offering would be made through a private placement memorandum and would be limited to accredited investors.
Apartment prices increased a full 4.9% last month, according to recent data from Green Street's Property Price Index, which follows a 2% increase from the previous month and is the strongest positive trend since late 2021. Apartment demand remains strong amid a generational peak in new apartment supply. Weakening (however gradually) inflation, alongside indications from the Federal Reserve that interest rate cuts are a growing possibility, could finally lead to a more active multifamily investment market, but currently, sales activity is relatively low. Sources cited in this episode: Green Street: “Commercial Property Prices Trending Upward” - https://insights.greenstreet.com/hubfs/GSCPPI-20240705.pdf RealPage: “U.S. Apartment Demand Surges in Second Quarter” - https://www.realpage.com/analytics/2nd-quarter-2024-data-update/ Yardi Matrix: “National Multifamily Report, June 2024” - https://www.yardimatrix.com/publications/download/file/5800-MatrixMultifamilyNationalReport-June2024 GlobeSt: “Rent Control's Impact on Multifamily” - https://www.globest.com/2024/07/08/rent-controls-impact-on-multifamily/ Harvard Joint Center for Housing Studies: “Middle-Income Housing Programs Emerge as Affordability Challenges Climb the Income Ladder” - https://www.jchs.harvard.edu/blog/middle-income-housing-programs-emerge-affordability-challenges-climb-income-ladder For the latest multifamily news from across the internet, visit the Gray Report website: https://www.grayreport.com/ Sign up for our free multifamily newsletter here: https://www.graycapitalllc.com/newsletter Learn more about Gray Capital's latest multifamily investment opportunity: SolanaIndy.com DISCLAIMERS: This video does not constitute professional financial advice and is for educational/entertainment purposes only. This video is not an offer to invest. Any offering would be made through a private placement memorandum and would be limited to accredited investors.
Gray Report host Spencer Gray speaks with Chris Salviati, Senior Housing Economist at Apartment List, about major trends in the multifamily space, notable apartment markets, and multifamily in relation to the larger economy. Follow the latest reports from the Apartment List research team: https://www.apartmentlist.com/research For the latest multifamily news from across the internet, visit the Gray Report website: https://www.grayreport.com/ Sign up for our free multifamily newsletter here: https://www.graycapitalllc.com/newsletter Learn more about Gray Capital's latest multifamily investment opportunity: SolanaIndy.com DISCLAIMERS: This video does not constitute professional financial advice and is for educational/entertainment purposes only. This video is not an offer to invest. Any offering would be made through a private placement memorandum and would be limited to accredited investors.
A "trifecta of positive inflation reports" shows consistently weakening inflation, and data from both the single-family and multifamily markets points to persistent strong housing demand. Multifamily investment activity, however, is low, and there is little sign of interest rate relief for multifamily borrowers still struggling with high debt costs and sluggish rent growth. The sharpening contrast between the potential for growth and the current stagnation in the multifamily market represents a significant opportunity for investors, especially those with greater access to capital. Sources discussed in this episode: Apartment List: Rent Report, June 2024: https://www.apartmentlist.com/research/national-rent-data Colliers: “Capital Markets | 2024 Multifamily Outlook” - https://www.colliers.com/en/research/nrep-colliers-capital-markets-multifamily-market-outlook-2024 NAHB: “Considering Housing Inventory: Why Both New and Existing Supply Matters” - https://eyeonhousing.org/2024/06/considering-housing-inventory-why-both-new-and-existing-supply-matters/ Marcus & Millichap: “Get Ahead of The Fed – Why Inflation Isn't As High As People Think” - https://www.marcusmillichap.com/research/videos/2024/07/get-ahead-of-the-fed-why-inflation-isnt-as-high-as-people-think Learn more about Gray Capital's latest multifamily investment opportunity: SolanaIndy.com For the latest multifamily news from across the internet, visit the Gray Report website: https://www.grayreport.com/ Sign up for our free multifamily newsletter here: https://www.graycapitalllc.com/newsletter DISCLAIMERS: This podcast does not constitute professional financial advice and is for educational/entertainment purposes only. This podcast is not an offer to invest. Any offering would be made through a private placement memorandum and would be limited to accredited investors.
Amid persistently high interest rates and waning, but still-elevated, inflation, prices for single-family homes continue to increase, and despite the lower rent growth in the apartment market, the Harvard JCHS's recent State of the Nation's Housing Report finds continued affordability pressure in both the rental and for-sale areas of the housing market. While both rent growth and the growth of single-family home prices have sharply increased in the past 3 years, prices for single-family homes have increased by a far greater amount, which is a strong signal of housing demand that points to higher rent growth in the multifamily market as the wave of new apartment deliveries subsides over the next year-and-a-half. Sources discussed in this episode: Harvard Joint Center for Housing Studies: “The State of the Nation's Housing 2024” - https://www.jchs.harvard.edu/sites/default/files/reports/files/Harvard_JCHS_The_State_of_the_Nations_Housing_2024.pdf John Burns Research and Consulting: “How will the declining birth rate impact the move-up housing segment?” - https://jbrec.com/insights/declining-birth-rates-fewer-children-affect-us-housing-demand/ Apartment List: “The U.S. Added Nearly 600,000 Super Commuters in 2022” - https://www.apartmentlist.com/research/the-us-added-nearly-600000-super-commuters The Conference Board: "US Consumer Confidence Weakens Slightly in June" - https://www.conference-board.org/topics/consumer-confidence Learn more about Gray Capital's latest multifamily investment opportunity: SolanaIndy.com For the latest multifamily news from across the internet, visit the Gray Report website: https://www.grayreport.com/ Sign up for our free multifamily newsletter here: https://www.graycapitalllc.com/newsletter DISCLAIMERS: This video does not constitute professional financial advice and is for educational/entertainment purposes only. This video is not an offer to invest. Any offering would be made through a private placement memorandum and would be limited to accredited investors.
Lower housing starts could exacerbate housing affordability issues, and while much of the US multifamily market is cooling due to to increased supply, midwestern multifamily markets are showing solid performance above national averages. Sources cited in this episode: The United States Census Bureau: "New Residential Construction, May 2024" - https://www.census.gov/construction/nrc/current/index.html The Wall Street Journal: “Rent Hikes Loom, Posing Threat to Inflation Fight” - https://www.wsj.com/real-estate/rent-hikes-loom-posing-threat-to-inflation-fight-e6797e39 RealPage: “Most U.S. Apartment Markets Recording Occupancy Improvement” - https://www.realpage.com/analytics/strong-occupancy-growth-in-april-may/ Bisnow: “'The Darling Of The Party': Investors Flock To Midwestern Multifamily As They Flee Struggling Asset Classes” - https://www.bisnow.com/chicago/news/multifamily/the-darling-of-the-party-investors-flocking-to-midwestern-multifamily-as-they-flee-struggling-asset-classes-124744 Yardi Matrix: National Multifamily Report, Summer 2024 - Multifamily's Second-Half Balancing Act” - https://www.yardimatrix.com/publications/download/File/5778-MatrixMultifamilyNationalReport-Summer2024 Learn more about Gray Capital's latest multifamily investment opportunity: SolanaIndy.com For the latest multifamily news from across the internet, visit the Gray Report website: https://www.grayreport.com/ Sign up for our free multifamily newsletter here: https://www.graycapitalllc.com/newsletter DISCLAIMERS: This podcast does not constitute professional financial advice and is for educational/entertainment purposes only. This podcast is not an offer to invest. Any offering would be made through a private placement memorandum and would be limited to accredited investors.
A 3.5% annual jump in CPI inflation numbers has led investors and experts to rethink their expectations of an interest rate cut in mid-year 2024, but Blackstone's recent agreement to acquire Apartment Income REIT Corp. for $10 billion could spark greater investment activity in spite of elevated interest rates, especially given the improving fundamentals in the apartment market. Sources discussed in this episode: CPI: “Consumer Price Index, March 2024” - https://www.bls.gov/news.release/cpi.nr0.htm The Wall Street Journal: “Blackstone Making $10 Billion Multifamily Purchase, Going on the Real Estate Offensive” - https://www.wsj.com/real-estate/blackstone-making-10-billion-multifamily-purchase-going-on-the-real-estate-offensive-f3126928 Yardi Matrix: “Multifamily Sets Strong Early Tone in 2024” - https://www.yardimatrix.com/publications/download/file/5355-MatrixMultifamilyNationalReport-March2024 RealPage: “RealPage Slightly Strengthens Forecast in Most Apartment Markets Based on Economic Indicators” - https://www.realpage.com/analytics/1q24-foreast-update/ For the latest multifamily news from across the internet, visit the Gray Report website: https://www.grayreport.com/ Sign up for our free multifamily newsletter here: https://www.graycapitalllc.com/newsletter Learn more about Gray Capital's latest multifamily investment offering for accredited investors: https://www.graycapitalllc.com/new-offering/ DISCLAIMERS: This podcast does not constitute professional financial advice and is for educational/entertainment purposes only. This podcast is not an offer to invest. Any offering would be made through a private placement memorandum and would be limited to accredited investors.
Sources discussed in this episode: Moody's Analytics: “Q1 2024 Preliminary Trend Announcement” - https://cre.moodysanalytics.com/insights/cre-trends/q1-2024-preliminary-trend-announcement/ The Conference Board: "U.S. Leading Economic Index" - https://www.conference-board.org/topics/us-leading-indicators The Wall Street Journal: "What's Wrong with the Economy? It's You, Not the Data" - https://www.wsj.com/economy/consumers/whats-wrong-with-the-economy-its-you-not-the-data-cfa911e6 Bureau of Labor Statistics: "The Employment Situation - March 2024" - https://www.bls.gov/news.release/empsit.nr0.htm Apartment List: “March 2024 Rent Report” - https://www.apartmentlist.com/research/national-rent-data CBRE: “Made in the Midwest” - https://www.cbre.com/insights/reports/made-in-the-midwest For the latest multifamily news from across the internet, visit the Gray Report website: https://www.grayreport.com/ Sign up for our free multifamily newsletter here: https://www.graycapitalllc.com/newsletter Learn more about Gray Capital's latest multifamily investment offering for accredited investors: https://www.graycapitalllc.com/new-offering/ DISCLAIMERS: This video does not constitute professional financial advice and is for educational/entertainment purposes only. This video is not an offer to invest. Any offering would be made through a private placement memorandum and would be limited to accredited investors.
Costs for homebuyers have been growing at more than twice the rate as rentals, making renting a more affordable option. Buoyed by recent data on apartment fundamentals multifamily investors are re-entering the market, undaunted by persistent high interest rates, last year's sluggish rent growth, and projections of elevated supply through the end of 2024. Sources discussed in this episode: Realtor.com: “February 2024 Rental Report: Renting a starter home is more affordable than buying one in all 50 metros” - https://www.realtor.com/research/february-2024-rent/ CBRE: “Assessing Investor Sentiment: A Window Of Opportunity” - https://www.cbre.com/insights/articles/cmc-episode-4-investor-sentiment Moody's Analytics: “This Time is Different: A Counter to the Urban Doom Loop Narrative” - https://cre.moodysanalytics.com/insights/market-insights/this-time-is-different-a-counter-to-the-urban-doom-loop-narrative/ Harvard Joint Center for Housing Studies: “After Leading a Back to the City Movement, Many Millennials Moved to the Suburbs” - https://www.jchs.harvard.edu/blog/after-leading-back-city-movement-many-millennials-moved-suburbs Gray Report Commentary: “Rent a Starter Home More Affordable Than Buying” - https://www.graycapitalllc.com/gray-report-commentary-march-29-2024/ For the latest multifamily news from across the internet, visit the Gray Report website: https://www.grayreport.com/ Sign up for our free multifamily newsletter here: https://www.graycapitalllc.com/newsletter Learn more about Gray Capital's latest multifamily investment offering for accredited investors: https://www.graycapitalllc.com/new-offering/ DISCLAIMERS: This podcast does not constitute professional financial advice and is for educational/entertainment purposes only. This podcast is not an offer to invest. Any offering would be made through a private placement memorandum and would be limited to accredited investors.
In a return appearance on the Gray Report, RealPage Director of Research & Analysis Carl Whitaker discusses economic trends, construction issues, rent growth developments, and the data that can give multifamily investors a clear view of the market in 2024. For the latest multifamily news from across the internet, visit the Gray Report website: https://www.grayreport.com/ Sign up for our free multifamily newsletter here: https://www.graycapitalllc.com/newsletter Learn more about Gray Capital's latest multifamily investment offering for accredited investors: https://www.graycapitalllc.com/new-offering/ DISCLAIMERS: This video does not constitute professional financial advice and is for educational/entertainment purposes only. This video is not an offer to invest. Any offering would be made through a private placement memorandum and would be limited to accredited investors.
The Federal Reserve has thus far not deviated from its projections of 3 federal funds rate reductions in 2024, but it is in no hurry to start. While current elevated rates are not ideal for multifamily borrowers, multifamily investors with a longer-term view of the apartment market and housing demand have markedly increased their intentions to invest this year. Sources discussed in this episode: The Wall Street Journal: “Stocks Gain after Fed Holds Rates Steady” - https://www.wsj.com/livecoverage/fed-meeting-fomc-interest-rate-decision-march-2024 Trepp: "Trepp Property Price Index (TPPI): Rate Cut Speculations Shape Varied Property Sector Performance in Q4 2023" - https://www.trepp.com/trepptalk/tppi-2023-q4-rate-cut-speculations-shape-varied-property-sector-performances Cushman & Wakefield - “Deciphering Today's Debt Market” - https://www.cushmanwakefield.com/en/united-states/insights/deciphering-the-debt-market CNBC: “Biden targets ‘rent gouging' landlords as high housing costs factor into 2024 race” - https://www.cnbc.com/2024/03/19/biden-targets-rent-gouging-landlords-as-high-housing-costs-2024-race.html The White House: “FACT SHEET: President Biden Announces Plan to Lower Housing Costs for Working Families” - https://www.whitehouse.gov/briefing-room/statements-releases/2024/03/07/fact-sheet-president-biden-announces-plan-to-lower-housing-costs-for-working-families/ U.S. Department of Housing and Urban Development: "Existing Policy on Non-Rent Fees in Housing Choice Voucher (HCV) and Project-Based Voucher (PBV) Programs" - https://www.hud.gov/sites/dfiles/PIH/images/HCV_PBV%20Non-Rent%20Fees%20Chart_Final_2-21-24.pdf For the latest multifamily news from across the internet, visit the Gray Report website: https://www.grayreport.com/ Sign up for our free multifamily newsletter here: https://www.graycapitalllc.com/newsletter Learn more about Gray Capital's latest multifamily investment offering for accredited investors: https://www.graycapitalllc.com/new-offering/ DISCLAIMERS: This podcast does not constitute professional financial advice and is for educational/entertainment purposes only. This podcast is not an offer to invest. Any offering would be made through a private placement memorandum and would be limited to accredited investors.
Grant Cardone shares his inimitable insights on the current state of multifamily investment and specific markets across the country. For the latest multifamily news from across the internet, visit the Gray Report website: https://www.grayreport.com/ Sign up for our free multifamily newsletter here: https://www.graycapitalllc.com/newsletter Learn more about Gray Capital's latest multifamily investment offering for accredited investors: https://www.graycapitalllc.com/new-offering/ DISCLAIMERS: This podcast does not constitute professional financial advice and is for educational/entertainment purposes only. This podcast is not an offer to invest. Any offering would be made through a private placement memorandum and would be limited to accredited investors.
Multifamily loan maturities have not led to a full-scale crisis in the apartment investment market, but the issue is far from resolved for many borrowers, which could lead to pockets of distress in the sector. Sources discussed in this episode: Yardi Matrix: “Multifamily Loans Coming Due Face Stress Test” - https://www.yardimatrix.com/publications/download/file/5217-MatrixResearchBulletin-MultifamilyMaturity-March2024 Bureau of Labor Statistics: “Consumer Price Index, February 2024” - https://www.bls.gov/charts/consumer-price-index/consumer-price-index-by-category-line-chart.htm Harvard Joint Center for Housing Studies: “Power to the Neighborhoods: NYC Growth Politics and the Origins of the Housing Crisis” - https://www.jchs.harvard.edu/blog/power-neighborhoods-nyc-growth-politics-and-origins-housing-crisis For the latest multifamily news from across the internet, visit the Gray Report website: https://www.grayreport.com/ Sign up for our free multifamily newsletter here: https://www.graycapitalllc.com/newsletter Learn more about Gray Capital's latest multifamily investment offering for accredited investors: https://www.graycapitalllc.com/new-offering/ DISCLAIMERS: This video does not constitute professional financial advice and is for educational/entertainment purposes only. This video is not an offer to invest. Any offering would be made through a private placement memorandum and would be limited to accredited investors.
Gray Report host Spencer Gray speaks with guest Paul Fiorilla, Director of Research at Yardi Matrix, and reviews the most important trends affecting the multifamily market in 2024. For the latest multifamily news from across the internet, visit the Gray Report website: https://www.grayreport.com/ Sign up for our free multifamily newsletter here: https://www.graycapitalllc.com/newsletter Learn more about Gray Capital's latest multifamily investment offering for accredited investors: https://www.graycapitalllc.com/new-offering/ DISCLAIMERS: This podcast does not constitute professional financial advice and is for educational/entertainment purposes only. This podcast is not an offer to invest. Any offering would be made through a private placement memorandum and would be limited to accredited investors.
Cap rate trends and interest rate trends have come under the spotlight, with several reports on the topic as well as specific developments that will play a major factor in how the economy progresses. Sources discussed in this episode: Federal Reserve Bank of the United States: “Monetary Policy Report” - https://www.federalreserve.gov/publications/files/20240301_mprfullreport.pdf Capital Spectator: “US Growth Expected To Slow In Next Month's Q1 GDP Report” - https://www.capitalspectator.com/us-growth-expected-to-slow-in-next-months-q1-gdp-report/ CBRE: “U.S. Cap Rate Survey H2 2023” - https://www.cbre.com/insights/reports/us-cap-rate-survey-h2-2023 https://sprcdn-assets.sprinklr.com/2299/d55fbd12-8b34-4725-8e93-6ae0119dad6d-603683686.pdf Newmark: “Valuation and Advisory's North American Market Survey” - https://www.nmrk.com/storage-nmrk/uploads/documents/va-market-survey/Newmark_VA_North-American-Market-Survey-2024.pdf Marcus & Millichap: “January CRE Foreclosures” - https://www.marcusmillichap.com/research/videos/2024/03/january-cre-foreclosures Apartment List: “National Rent Report, Feb. 2024” - https://www.apartmentlist.com/research/national-rent-data For the latest multifamily news from across the internet, visit the Gray Report website: https://www.grayreport.com/ Sign up for our free multifamily newsletter here: https://www.graycapitalllc.com/newsletter Learn more about Gray Capital's latest multifamily investment offering for accredited investors: https://www.graycapitalllc.com/new-offering/ DISCLAIMERS: This podcast does not constitute professional financial advice and is for educational/entertainment purposes only. This podcast is not an offer to invest. Any offering would be made through a private placement memorandum and would be limited to accredited investors.
As we move further from the uncertainty and rent growth stagnation of 2023, an increasing number of sources are finding room for optimism in the multifamily investment market. A looming drop-off in multifamily supply, the consequence of an interest-rate-driven decline in new construction projects, has become a central part of projections for the multifamily market, leading to expectations of higher rent growth and increased apartment demand in 2025 and 2026. Sources discussed in this episode: Bureau of Economic Analysis: “PCE Inflation, January 2024” - https://www.bea.gov/news/2024/personal-income-and-outlays-january-2024 John Burns Research and Consulting, CRE Daily: “Fear and Greed Survey, 4Q23” - https://jbrec.com/wp-content/uploads/2024/02/Fear-and-Greed-Index-Chartbook-2024-02.pdf Newmark: “4Q23 State of the U.S. Capital Markets” - https://www.nmrk.com/storage-nmrk/uploads/documents/4Q23-Newmark-State-of-the-U.S.-Capital-Markets_FINAL_EXTERNAL.pdf Fannie Mae: “2024 Outlook for Multifamily Affordability – Many Renters Remain Cost-Burdened” - https://www.fanniemae.com/media/50411/display CBRE: “Multifamily Market Travails Not Likely to Last” - https://www.cbre.com/insights/briefs/cotw-multifamily-market-travails-not-likely-to-last For the latest multifamily news from across the internet, visit the Gray Report website: https://www.grayreport.com/ Sign up for our free multifamily newsletter here: https://www.graycapitalllc.com/newsletter Learn more about Gray Capital's latest multifamily investment offering for accredited investors: https://www.graycapitalllc.com/new-offering/ DISCLAIMERS: This podcast does not constitute professional financial advice and is for educational/entertainment purposes only. This podcast is not an offer to invest. Any offering would be made through a private placement memorandum and would be limited to accredited investors.
Single family rentals are a growing portion of the housing market, and while the single family market is correlated and connected to multifamily performance, single family rentals are not necessarily a competitive threat to the multifamily market. Sources cited in this episode: Yardi Matrix: National Multifamily Report, Jan. 2024 - https://www.yardimatrix.com/publications/download/file/5071-MatrixMultifamilyNationalReport-January2024 CoreLogic: “US Single-Family Rent Index – February 2024” - https://www.corelogic.com/press-releases/corelogic-us-annual-rent-growth-remains-slow-steady-december/ RealPage: “Incomes Grew Faster Than Rents in 2023” - https://www.realpage.com/analytics/rent-income-ratios-decline-2023/ Moody's Analytics: “Q4 2023 Housing Affordability Update: Rent Burden Lightened for Median US Households Last Year, but Not Everyone Felt the Relief” - https://cre.moodysanalytics.com/insights/market-insights/q4-2023-housing-affordability-update-rent-burden-lightened-for-median-us-households-last-year-but-not-everyone-felt-the-relief/ For the latest multifamily news from across the internet, visit the Gray Report website: https://www.grayreport.com/ Sign up for our free multifamily newsletter here: https://www.graycapitalllc.com/newsletter Learn more about Gray Capital's latest multifamily investment offering for accredited investors: https://www.graycapitalllc.com/new-offering/ DISCLAIMERS: This podcast does not constitute professional financial advice and is for educational/entertainment purposes only. This podcast is not an offer to invest. Any offering would be made through a private placement memorandum and would be limited to accredited investors.
This month's inflation report came in slightly higher than expected, causing some worry that the much-anticipated interest rate cuts from the Fed may not arrive as quickly as previously thought. A "higher for longer" environment is one reason why some are pessimistic about multifamily in 2024, but there is little evidence for continued declines in multifamily valuations, which are already 20-30% below the peak. Consistent demand, a more balanced supply/demand environment after 2024, and, yes, lower interest rate expectations are a strong counter-balance to multifamily doomsayers and help explain why investors intend to be far more active this year compared to 2023. Gray Capital's latest multifamily offering for accredited investors: https://www.graycapitalllc.com/new-offering/ Link to webinar on February 20 at 1PM Eastern: https://youtube.com/live/LCkECUK05BI?feature=share Sources cited in this episode: Bureau of Labor Statistics: “Consumer Price Index - January 2024” - https://www.bls.gov/news.release/cpi.nr0.htm BiggerPockets: “Multifamily Is at High Risk of Continuing Its Historic Crash in 2024—Here's Why” - https://www.biggerpockets.com/blog/multifamily-crash-to-continue-through-2024 For the latest multifamily news from across the internet, visit the Gray Report website: https://www.grayreport.com/ Sign up for our free multifamily newsletter here: https://www.graycapitalllc.com/newsletter DISCLAIMERS: This podcast does not constitute professional financial advice and is for educational/entertainment purposes only. This podcast is not an offer to invest. Offering limited to accredited investors.
The Gray Capital team shares their predictions for the multifamily market and the economy in 2024, comparing them to other forecasts that have recently been published. Sources discussed in this episode: Marcus & Millichap: “What to Expect for CRE in 2024” - https://www.marcusmillichap.com/research/videos/what-to-expect-for-cre-in-2024 CBRE: “U.S. Real Estate Market Outlook 2024” - https://www.cbre.com/insights/books/us-real-estate-market-outlook-2024/multifamily Cushman & Wakefield: “2024 U.S. Macro Outlook: A Rolling Recession Is Here” - https://www.cushmanwakefield.com/en/united-states/insights/us-macro-outlook Fannie Mae: “Multifamily Values Not Driven Solely by Rent Growth” https://www.fanniemae.com/media/49951/display For the latest multifamily news from across the internet, visit the Gray Report website: https://www.grayreport.com/ Sign up for our free multifamily newsletter here: https://www.graycapitalllc.com/newsletter DISCLAIMERS: This podcast does not constitute professional financial advice and is for educational/entertainment purposes only. This podcast is not an offer to invest.
For CRE investors waiting to buy (or sell) properties, a rate hike pause may not be enough to encourage their re-entry into the market as investors expect further cap rate expansion in 2024. For multifamily specifically, confidence in longer-term asset performance has led to greater investor interest compared to other CRE sectors, but overall investment volume is lower than pre-pandemic averages. Sources discussed in this episode: Gray Capital: "Huge Buying Opportunity: Potential Multifamily Crash?" - https://youtu.be/TBZB9vpDW6M Reuters: “Fed keeps rates unchanged, acknowledges economy is 'strong'” - https://www.reuters.com/markets/us/fed-poised-hold-rates-steady-despite-economys-bullish-tone-2023-11-01/ Independence Realty Trust: "Independence Realty Trust Announces Third Quarter 2023 Financial Results" - https://investors.irtliving.com/press-releases/press-release/2023/Independence-Realty-Trust-Announces-Third-Quarter-2023-Financial-Results/default.aspx John Burns Research and Consulting: “Home Supply Glut?” - https://www.linkedin.com/posts/johnburns7_if-not-for-the-lack-of-resale-homes-we-would-activity-7124734200955510784-RlKv?utm_source=share&utm_medium=member_desktop Jay Parsons (RealPage): “Cap rates are not (directly) correlated with interest rates” - https://www.linkedin.com/posts/jay-parsons-a7a6656_cre-capitalmarkets-multifamilyrealestate-activity-7124753714694819841-heSF?utm_source=share&utm_medium=member_desktop Promarket (U Chicago Booth School of Business) - “Evaluating Concerns of Collapsing Commercial Real Estate Prices” - https://www.promarket.org/2023/10/10/evaluating-concerns-of-collapsing-commercial-real-estate-prices/ Apartment List: “National Rent Report, October 2023” - https://www.apartmentlist.com/research/national-rent-data For the latest multifamily news from across the internet, visit the Gray Report website: https://www.grayreport.com/ Sign up for our free multifamily newsletter here: https://www.graycapitalllc.com/newsletter DISCLAIMERS: This podcast does not constitute professional financial advice and is for educational/entertainment purposes only. This podcast is not an offer to invest.
The Gray Capital team discusses cap rate trends and apartment supply. Also in this episode, Gray Capital President, CEO, and Co-Founder Spencer Gray brings Hannah Ott and Cameron Benz, powerhouse multifamily brokers on the Indianapolis Cushman & Wakefield team, into the studio for a discussion of what's happening on the ground for multifamily buyers and sellers. For the latest multifamily news from across the internet, visit the Gray Report website: https://www.grayreport.com/ Sign up for our free multifamily newsletter here: https://www.graycapitalllc.com/newsletter DISCLAIMERS: This podcast does not constitute professional financial advice and is for educational/entertainment purposes only. This podcast is not an offer to invest.
Among the many recent outlooks and projections for the multifamily market this year, some predictions will naturally be more accurate than others. The Gray Capital team discusses the state of the multifamily market and different visions for the markets and trends that will be the most prominent in 2023. For the latest multifamily news from across the internet, visit the Gray Report website: https://www.grayreport.com/ Sign up for our free multifamily newsletter here: https://www.graycapitalllc.com/newsletter/ DISCLAIMERS: This podcast does not constitute professional financial advice and is for educational/entertainment purposes only. This podcast is not an offer to invest.
Spencer Gray is the President of Gray Capital. He is also CEO of Gray Properties, LLC, a commercial real estate focused family office. How he approaches fundraising and why it's so important to him. How he is driven by wanting to create a great business and provide financial freedom for his family. He shares how having employees, a strong company culture, and the ability to have options in life are important to him. To learn more about his advice for aspiring leaders, visit his website at https://www.graycapitalllc.com/![00:01 - 11:15] Opening SegmentLet's get to know Spencer!Importance of networking and finding partnersRaising money from private investors[11:15 - 23:11] Building A Sustainable Business By Having High GoalsWhy he has been successful in real estate and the reasons behind itImportance of having a goalImportance of familyWork-study opportunitiesBuild the best real estate team possible[23:12 - 30:45] THE FINAL FOURWhat's the worst job that you ever had?When he worked at a recording studioWhat's a book you've read that has given you a paradigm shift?“Be Obsessed or Be Average” by Grant CardoneWhat is a skill or talent that you would like to learn?He wants to get his pilot's licenseWhat does success mean to you?Spencer says that, “Success to me is to have the best team.”Connect with SpencerWebsite: https://www.graycapitalllc.com/Facebook: Gray Capital LLCLinkedIn: Spencer GrayLEAVE A 5-STAR REVIEW by clicking this link.WHERE CAN I LEARN MORE?Be sure to follow me on the below platforms:Subscribe to the podcast on Apple, Spotify, Google, or Stitcher.LinkedInYoutubeExclusive Facebook Groupwww.yonahweiss.comNone of this could be possible without the awesome team at Buzzsprout. They make it easy to get your show listed on every major podcast platform.Tweetable Quotes:“The amount of effort it takes to achieve relatively small goals and large goals is pretty similar. It's what we choose to pursue that really makes the difference.” – Spencer Gray“Success to me is to have the best team and to be at a point where I just need to get out of their way and I really need to be less involved.” – Spencer GraySupport the show
Last week's announcement of rising interest rates from the Federal Reserve bank has led to some anxious speculation in the economy, and in this episode of the Gray Report, the Gray Capital team explains the potential impacts for multifamily investors. For the latest multifamily news from across the internet, check out the Gray Report website: https://www.grayreport.com/ Sign up for our free multifamily newsletter here: https://www.graycapitalllc.com/newsletter/ DISCLAIMER: This video does not constitute professional financial advice and is for educational/entertainment purposes only.
If you're looking to grow from residential to commercial (or residential to multifamily), don't have an expensive education (or don't use yours), and want to have amazing success, today's conversation is for you. My guest is Spencer Gray. He's the president of Gray Capital, where he leads and develops investment strategy, performance, due diligence, and underwriting for their multifamily portfolio. He started in 2006 as a residential investor straight out of high school and has since been involved in over $1 billion worth of transactions and controls over $500M in real estate assets. The best part about Spencer's path, is that it's one that you can start following right now. You can start doing deals, scaling capital, and creating amazing opportunities for yourself, just like he did–and just like I did. In this amazing conversation, Spencer and I discuss what makes the multifamily market of 2022 so different from 2019, why top-line revenue keeps growing, and how to find Midwestern markets that are cash flow positive and appreciating by 15-20%. Want the Full Show Notes? To get access to the full show notes, including audio, transcripts, and links to all the resources mentioned, visit https://acceleratedinvestorpodcast.com/263 Rate & Review If you enjoyed today's episode of The Accelerated Real Estate Investor Podcast, hit the subscribe button on Apple Podcasts, so future episodes are automatically downloaded directly to your device. You can also help by providing an honest rating & review over on Apple Podcasts. Reviews go a long way in helping us build awareness so that we can impact even more people. THANK YOU! Connect with Josh Cantwell Facebook YouTube Instagram LinkedIn Twitter Sign Up For My Coaching Program! To unlock your potential and start earning real passive income, visit joshcantwellcoaching.com
The Gray Capital team discusses rising rents, the housing affordability crisis, the supply/demand imbalance, and the potential for 2022 rents to continue the kinds of growth seen in 2021. For the latest multifamily news from across the internet, check out the Gray Report website: www.TheGrayReport.com Sign up for our free multifamily newsletter here: www.graycapitalllc.com/newsletter DISCLAIMER: This podcast does not constitute professional financial advice and is for educational/entertainment purposes only; please consult a licensed financial advisor.
Global Investors: Foreign Investing In US Real Estate with Charles Carillo
Spencer Gray has been involved in over $1 billion in transactions since buying his first rental property in 2006. His company Gray Capital, focuses on value-add multifamily, core and core+ multifamily and opportunistic commercial real estate. Learn More About Spencer Here: Gray Capital, LLC - https://www.graycapitalllc.com What do you want to hear/see more of and less of? What question do you always wish I would ask but I never do? Connect with the Global Investors Show, Charles Carillo, and Harborside Partners: ◾ Setup a FREE 30 Minute Strategy Call with Charles: schedulecharles.com/ ◾ Global Investors Web Page: https://charleskcarillo.com/global-investors-podcast/ .◾ Join Our Email Newsletter: http://bit.ly/32pehL0 ◾ Foreign Investing in US Real Estate Facebook Group: facebook.com/groups/ForeignInvestingInUSRealEstate/
Multifamily investment volume is rising dramatically, and recent reports on housing affordability and increased investor activity in apartment markets have led to some concern about housing costs and the potential for a crisis. The Gray Capital team provides some important context to these issues and explains the larger trends that may be a factor in the multifamily market today. For the latest multifamily news from across the internet, check out the Gray Report website: www.TheGrayReport.com Sign up for our free multifamily newsletter here: www.graycapitalllc.com/newsletter DISCLAIMER: This podcast does not constitute professional financial advice and is for educational/entertainment purposes only; please consult a licensed financial advisor.
The Gray Capital team discusses tokenized real estate, emerging alternative investments, multifamily's success compared to other real estate sectors, and trends in rent payment rates over the last three years. For the latest multifamily news from across the internet, check out the Gray Report website: www.TheGrayReport.com Sign up for our free multifamily newsletter here: www.graycapitalllc.com/newsletter DISCLAIMER: This podcast does not constitute professional financial advice and is for educational/entertainment purposes only; please consult a licensed financial advisor.
In his role as President, Spencer develops, leads and executes investment strategy and manages the investor experience at Gray Capital LLC, a multifamily investment and asset management firm. Since founding Gray Capital, Spencer has been involved in over $1 billion in transactions and has built the Gray Capital portfolio of assets to include over 9,000 multifamily units. Spencer is also President and CEO of Gray Properties, LLC, a commercial real estate focused family office. As an entrepreneur, Spencer, has founded several successful businesses in the fields of media distribution, real estate and agriculture before turning his passion for investing in commercial real estate into Gray Capital. Spencer has extensive experience in a variety of real estate investing strategies since buying his first rental property in 2006. Spencer is an avid outdoorsman who enjoys rock climbing, fly fishing, archery and free diving. He is also a father to two girls.
Join us in this episode as Spencer Gray shares what he has learned from his recent deal and the various techniques to scale up multifamily business while giving value to investors and partners. Don't miss this one out! Key takeaways to listen for The basics of core+ and light value add real estate Benefits of having a property management team Establishing a team that adds value to the business How to identify and dominate a real estate niche market 3 essential categories in the Newsletter Ways to overcome challenges in real estate Resources mentioned in this episode Sign up for The Gray Report Weekly Multifamily Newsletter! About Spencer Gray Spencer develops, leads, and executes investment strategy, performs underwriting and due diligence of all assets in the Gray Capital portfolio, and interfaces with investors. Since founding Gray Capital, LLC Spencer has been involved in over $1 billion in transactions. Spencer is also President and CEO of Gray Properties, LLC, a commercial real estate-focused family office. As an entrepreneur, Spencer has founded several successful businesses in the fields of media distribution, real estate, and agriculture before turning his passion for investing in commercial real estate into what is now Gray Capital, LLC. Spencer has extensive experience in a variety of real estate investing strategies since buying his first rental property in 2006 Connect with Spencer Website: The Gray Report; Gray Capital LLC LinkedIn: Spencer Gray; Gray Capital Facebook: Gray Capital LLC YouTube: Gray Capital LLC Instagram: @graycapitalllc Connect with Us To learn more about partnering with us, visit our website at https://javierhinojo.com/ and www.allstatescapitalgroup.com, or send an email to admin@allstateseg.com. Sign up to get our Free Apartment Due Diligence Checklist Template and Multifamily Calculator by visiting https://javierhinojo.com/free-tools/. To join Javier's Mastermind, go to https://javierhinojo.com/mastermind/ and to apply to his BDB Mastermind, see https://javierhinojo.com/mastermind/#apply_form and answer the form. Follow Me on Social Media Facebook: Javier A Hinojo Jr. Facebook Group: Billion Dollar Multifamily and Commercial Real Estate YouTube Channel: Javier Hinojo Instagram: @javierhinojojr TikTok: @javierhinojojr Twitter: @JavierHinojoJr
Raising capital is not an easy feat and in today's episode, we're going to dive into them! In his role as President, Spencer develops, leads, and executes investment strategy, performs underwriting and due diligence of all assets in the Gray Capital portfolio, and interfaces with investors. Since founding Gray Capital, LLC Spencer has been involved in over $1 billion in transactions. Spencer is also President and CEO of Gray Properties, LLC, a commercial real estate-focused family office. As an entrepreneur, Spencer has founded several successful businesses in the fields of media distribution, real estate, and agriculture before turning his passion for investing in commercial real estate into what is now Gray Capital, LLC. Spencer has extensive experience in a variety of real estate investing strategies since buying his first rental property in 2006. He is an avid outdoorsman who enjoys rock climbing, fly fishing, archery, and free diving. He is also a father to two girls.[00:01 - 06:34] Opening SegmentLet's get to know today's guest, Spencer GrayGet great weekly reports here https://www.graycapitalllc.com/newsletter/ Spencer shares his and his company's REI journey[06:35 - 29:46] Raising Capital, Teams and Meteoric GrowthTwo Keys that Helped Scale Spencer's BusinessWhy You Should Start Thinking Like the Vast MajorityInstitutionalizing Capital RaisingConversations with Capital Raising LeadersA $200 million Fundraising StoryAre we taking this deal to the finish line?“It's like an arranged marriage.”What to do when you lack a track recordThe market is so dynamic, here's why[29:47 - 32:44] Final Four SegmentTweetable Quotes“The right partnerships can do great things.” - Spencer Gray“It's harder to raise $10,000 than it is to raise $100,000.” - Spencer Gray“The most important thing on your first deal is just doing it.” - Spencer Gray-----------------------------------------------------------------------------Connect with Spencer Gray through spencer@graycapitalllc.com, Facebook, Instagram, BiggerPockets, and LinkedIn. Visit his website https://www.graycapitalllc.com/ and achieve meteoric growth for your business.Connect with me:I love helping others place money outside of traditional investments that both diversify a strategy and provide solid predictable returns. FacebookLinkedInLike, subscribe, and leave us a review on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in!Email me → sam@brickeninvestmentgroup.com
Raising capital is not an easy feat and in today's episode, we're going to dive into them! In his role as President, Spencer develops, leads, and executes investment strategy, performs underwriting and due diligence of all assets in the Gray Capital portfolio, and interfaces with investors. Since founding Gray Capital, LLC Spencer has been involved in over $1 billion in transactions. Spencer is also President and CEO of Gray Properties, LLC, a commercial real estate-focused family office. As an entrepreneur, Spencer has founded several successful businesses in the fields of media distribution, real estate, and agriculture before turning his passion for investing in commercial real estate into what is now Gray Capital, LLC. Spencer has extensive experience in a variety of real estate investing strategies since buying his first rental property in 2006. He is an avid outdoorsman who enjoys rock climbing, fly fishing, archery, and free diving. He is also a father to two girls.[00:01 - 06:34] Opening SegmentLet's get to know today's guest, Spencer GrayGet great weekly reports here https://www.graycapitalllc.com/newsletter/ Spencer shares his and his company's REI journey[06:35 - 29:46] Raising Capital, Teams and Meteoric GrowthTwo Keys that Helped Scale Spencer's BusinessWhy You Should Start Thinking Like the Vast MajorityInstitutionalizing Capital RaisingConversations with Capital Raising LeadersA $200 million Fundraising StoryAre we taking this deal to the finish line?“It's like an arranged marriage.”What to do when you lack a track recordThe market is so dynamic, here's why[29:47 - 32:44] Final Four SegmentWhat Spencer would invest in with only $20,000 House hackHow Spencer would help in a real estate mistakeAnalysis paralysisSpencer's way to make the world a better placeFoundation to support local organizations and help their communityReach out to our guest - see links below Final wordsTweetable Quotes“The right partnerships can do great things.” - Spencer Gray“It's harder to raise $10,000 than it is to raise $100,000.” - Spencer Gray“The most important thing on your first deal is just doing it.” - Spencer Gray-----------------------------------------------------------------------------Connect with Spencer Gray through spencer@graycapitalllc.com, Facebook, Instagram, BiggerPockets, and LinkedIn. Visit his website https://www.graycapitalllc.com/ and achieve meteoric growth for your business.Connect with me:I love helping others place money outside of traditional investments that both diversify a strategy and provide solid predictable returns. FacebookLinkedInLike, subscribe, and leave us a review on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in!Email me → sam@brickeninvestmentgroup.com
How Gray Capital Understands Cash Flow And Risk With Spencer Gray Welcome to episode 11 of Multifamily Millionaire: Real Income From Real Estate. In this episode Jason Lee sits down with Spencer Gray and they discuss his views of investing in multifamily real estate and he explains exactly how they operate at Gray Capital. As President and CEO of Gray Capital, Spencer focuses on leading the firm in the development and execution of their primary investment strategy, building and fostering relationship with their clients and partners, as well as steering the firm along the path of scalable growth. Gray Capital is a commercial real estate investment and asset management firm. They are passionate about helping others construct robust portfolios of cash flowing commercial real estate, with a focus on multifamily housing. They work with family offices, individual investors and institutions to build and preserve wealth in order to secure financial autonomy. Here is what to expect on this week's show: Spencer's unusual and non-linear start in the real estate business. How is Spencer finding and sourcing the amount of deals that he does. Spencer's day-to-day changes as he started doing his own real estate investments. What criteria does Gray capital use when deciding to invest in a property? Why types of investments in Spencer looking to get into at the moment? What should a first time investor do when looking to get into real estate? What advice would Spencer tell his younger self. Links Mentioned: https://www.graycapitalllc.com Connect with Spencer & Gray Capital: Instagram: https://www.instagram.com/graycapitalllc/ Facebook: https://m.facebook.com/graycapitalllc/?__tn__=C LinkedIn: https://www.linkedin.com/in/spencertrevorgray/ Twitter: https://twitter.com/CapitalGray Learn more about your ad choices. Visit megaphone.fm/adchoices
Indianapolis investor, Spencer Gray, is telling us all about his multifamily ventures as well as his experience as a GP and an LP. Spencer talks about why he chose multifamily over other asset classes, the recent challenges he's faced in today's market, and finding the right balance between being aggressive vs. overly aggressive to ensure you're participating in the market without overpaying. Spencer Gray Real Estate Background: CEO of Gray Capital and full time real estate syndicator/investor 16 years of RE investing experience Primarily focused on 150+ unit stabilized multifamily in the Midwest with Indianapolis being most active market Invests in industrial and medical office CRE as an LP as well as multifamily as an LP with other operators Portfolio consists of about 5,000 multifamily units as a GP with control, 4,000 units as an LP, 12 medical office buildings, and 2 ground up industrial developments as an LP Based in Indianapolis, IN Say hi to him at: https://www.GrayCapitalLLC.com Best Ever Book: Hands Off Investor Click here to know more about our sponsors: Real Estate CFO Services | ThinkMultifamily.com/coaching | Rent Redi | Rentify
Join your host Cody Lewis as he talks with Spencer Gray. They discuss the time that Spencer and his team had to shift their business plan after buying a property that the occupancy immediately dropped below fifty percent. Spencer goes on to talk about the other curve balls that were thrown at their team and this property. He speaks about the importance of having a good mindset when you're dealing with a property like this one. About Spencer: In his role as President, Spencer develops, leads and executes investment strategy, performs underwriting and due diligence of all assets in the Gray Capital portfolio, and interfaces with investors. Since founding Gray Capital, LLC Spencer has been involved in over $1 billion in transactions. Spencer is also President and CEO of Gray Properties, LLC, a commercial real estate focused family office. As an entrepreneur, Spencer, has founded several successful businesses in the fields of media distribution, real estate and agriculture before turning his passion for investing in commercial real estate into what is now Gray Capital, LLC . Spencer has extensive experience in a variety of real estate investing strategies since buying his first rental property in 2006. Spencer is an avid outdoorsman who enjoys rock climbing, fly fishing, archery and free diving. He is also a father to two girls. Connect with Spencer: https://www.graycapitalllc.com https://www.graycapitalllc.com/newsletter
Multifamily Investing the RIGHT Way with Multifamily Attorney Charles Dobens
Spencer Gray develops, leads and executes investment strategy, performs underwriting and due diligence of all assets in the Gray Capital portfolio, and interfaces with investors. Since founding Gray Capital, LLC Spencer has been involved in over $700 Million in transactions. Spencer and I discuss the different real estate strategies. For more information or to get started in multifamily investing, please visit: https://www.multifamilyinvestingacademy.com/.
Spencer Gray joins us on Discovering Multifamily episode 150! He attended the prestigious Indiana University School of Music, and although his passion for music is still very much alive in his life, he shifted into the real estate industry soon after he graduated. Today, Gray Capital is very active in the Midwest, with a controlling interest of over 9,000 multifamily units across multiple states. Gray also publishes a weekly newsletter which is highly regarded within the multifamily community. iTunes: https://podcasts.apple.com/us/podcast/discovering-multifamily/id1506820688#episodeGuid=Buzzsprout-3366217 YouTube: https://youtu.be/Qx4PeM7pB1M Website: www.redknightproperties.com/media Spotify: https://lnkd.in/gfcVc3p #financialfreedom #passiveinvesting #activeinvesting #investsmart #investwisely #buildingwealth #multifamily #podcast #Red Knight Properties #Anthony Scandariato #Brian Leonard #investing in real estate #investing in multifamily #investing in syndication
In his role as President, Spencer develops, leads and executes investment strategy, performs underwriting and due diligence of all assets in the Gray Capital portfolio, and interfaces with investors. Since founding Gray Capital, LLC Spencer has been involved in over $1 Billion in transactions. Spencer is also President and CEO of Gray Properties, LLC, a commercial real estate focused family office. As an entrepreneur, Spencer, has founded several successful businesses in the fields of media distribution, real estate and agriculture before turning his passion for investing in commercial real estate into what is now Gray Capital, LLC . Spencer has extensive experience in a variety of real estate investing strategies since buying his first rental property in 2006. Spencer is an avid outdoorsman who enjoys rock climbing, fly fishing, archery and free diving. He is also a father to two girls. $1b Worth of Transactions With Spencer Gray Connect with Spencer Gray: Linkedin: https://www.linkedin.com/in/spencertrevorgray/ Instagram: https://www.instagram.com/sr71isfaster/?hl=en Website: https://www.graycapitalllc.com/ Connect with Seth Ferguson: http://www.SethFerguson.org
Tips on how to set up your drip campaign and how to start looking for passive investors with Spencer Gray and Aharon Goins Follow us on Instagram, Facebook, and TwitterFor more educational content, visit our website at www.diaryofanapartmentinvestor.comInterested in investing with Four Oaks Capital? First step is to schedule a call with us. ----Spencer GrayIn his role as President at Gray Capital, Spencer develops, leads and executes investment strategy, performs underwriting and due diligence of all assets in the Gray Capital portfolio, and interfaces with investors. Since founding Gray Capital, LLC Spencer has been involved in over $700 Million in transactions. Spencer is also President and CEO of Gray Properties, LLC, a commercial real estate focused family office. As an entrepreneur, Spencer, has founded several successful businesses in the fields of media distribution, real estate and agriculture before turning his passion for investing in commercial real estate into what is now Gray Capital, LLC . Spencer has extensive experience in a variety of real estate investing strategies since buying his first rental property in 2006. Spencer is an avid outdoorsman who enjoys rock climbing, fly fishing, archery and free diving. He is also a father to two girls. Visit his websites https://www.graycapitalllc.com/ and https://www.grayreport.com/----Aharon GoinsAharon Goins is an active real estate and retired military veteran. Aharon hosts the weekly All in on real estate meetup every Thursday at 7 pm EST. He also hosts the military investing real estate hour on clubhouse every Wednesday at 5 :30 pm EST. He has been investing in real estate for about 2 years and started with real estate because he wanted to get out of the "Rat Race" of working for someone else and to change lives for the better. His mission is to help people build generational wealth through real estate not only for them but for their families.Visit his website https://allinhs.com/----Your host, Brian Briscoe, is a co-founder and principal in the real estate investing firm Four Oaks Capital. He and his team currently have 485 units worth $21 million in assets under management and are continuing to grow. He will retire as a Lieutenant Colonel in the United States Marine Corps in 2021. Learn more about him and the Four Oaks team at www.fouroakscapital.com or contact him at brianbriscoe@fouroakscapital.com - be sure to let him know where you found him.Connect with him on LinkedIn or Facebook.
Spencer Gray went from entrepreneur to co-sponsor / LP to President of Gray Capital, an investment firm focused on large multifamily assets. Located in Indianapolis, he looks to take advantage of the relative lack of institutional capital flowing into the Midwest. Spencer shares with Lance his approach to sourcing deals, and why he prefers to see the value in a mismanaged property versus a distressed asset. They discuss the current state of the market, the fickle nature of IRRs, the implications of today’s political environment, and trying to deal with impatient investors to whom 10 years is an eternity.
In his role as President, Spencer develops, leads and executes investment strategy, performs underwriting and due diligence of all assets in the Gray Capital portfolio, and interfaces with investors. Since founding Gray Capital, LLC Spencer has been involved in over $700 Million in transactions. Spencer is also President and CEO of Gray Properties, LLC, a commercial real estate focused family office. As an entrepreneur, Spencer has founded several successful businesses in the fields of media distribution, real estate and agriculture before turning his passion for investing in commercial real estate into what is now Gray Capital, LLC . Spencer has extensive experience in a variety of real estate investing strategies since buying his first rental property in 2006. Spencer is an avid outdoorsman who enjoys rock climbing, fly fishing, archery and free diving. He is also a father to two girls. KEY POINTS Spencer's entrepreneurial journey to multifamily investing Lessons learned from Spencer's first multifamily deal How to raise capital without previous experience The benefits of passive investing The lesser-known benefits of real estate investing How to hedge against inflation LIGHTNING QUESTIONS 1. What was your biggest hurdle getting started in real estate investing, and how did you overcome it? Not qualified and no real track record in multifamily, therefore partnering and leveraging track record with someone else. 2. Do you have a personal habit that contributes to your success? Having a morning regimen like meditation through a steam shower. 3. Do you have an online resource that you find valuable? https://www.grayreport.com/ (The Gray Report) https://www.graycapitalllc.com/newsletter/ ( Gray Report Newsletter) 4. What book would you recommend to the listeners and why? https://www.amazon.com/Hands-Off-Investor-Insiders-Investing-Syndications/dp/1947200275 ( The Hands-Off Investor) book by Brian Burke 5. If you were to give advice to your 20-year-old self to get started in real estate investing, what would it be? Try to focus a little bit on what's going to work, and really appreciate the time. RESOURCES Visithttp://m/gp/product/B00NB86OYE/ref=as_li_tl?ie=UTF8&tag=jacob0ee-20&camp=1789&creative=9325&linkCode=as2&creativeASIN=B00NB86OYE&linkId=100a9d2905599266aa7088bba0a33d55 ( Audible) for a free trial and free audiobook download! https://www.graycapitalllc.com/ (Gray Capital LLC ) https://www.linkedin.com/in/spencertrevorgray/ (LinkedIn) Email: spencer@graycapitalllc.com
Spencer Gray is the president and CEO of Gray Capital, a private equity real estate investment and asset management firm. Spencer goes into how his company was able to grow to their current portfolio size up to $700 million assets under management, the types of markets they look in, and what his plans are for the future. A lot to take away from this one, make sure to give it a listen! Spencer Gray Contact Information:spencer@graycapitalllc.comgraycapitalllc.com Spencer Gray or Gray Capital - Bigger Pockets, Youtube, Instagram, Linkedin.
Spencer Gray is the president and CEO of Gray Capital, a private equity real estate investment and asset management firm. Spencer goes into how his company was able to grow to their current portfolio size up to $700 million assets under management, the types of markets they look in, and what his plans are for the future. A lot to take away from this one, make sure to give it a listen! Spencer Gray Contact Information:spencer@graycapitalllc.comgraycapitalllc.com Spencer Gray or Gray Capital - Bigger Pockets, Youtube, Instagram, Linkedin.
Spencer Gray attended the prestigious Indiana University School of Music, and although his passion for music is still very much alive in his life, he shifted into the real estate industry soon after he graduated. Today Gray Capital is very active in the midwest with a controlling interest of over 9,000 multifamily units across multiple states. Gray also publishes a weekly newsletter which is highly regarded within the multifamily community. Books: Never Split The Difference by Chris Voss https://amzn.to/3bv0iuH
The Finance Ghost and Mohammed Nalla (Moe-Knows) discuss the link between environmental sustainability, good corporate governance and successful long-term investing. ESG metrics are important elements of any investor toolkit. This episode of Magic Markets is proudly sponsored by Gray Capital, an independent wealth management company.
The Finance Ghost and Mohammed Nalla (Moe-Knows) discuss the key concepts behind Gross Domestic Product (GDP) and touch on a number of critical insights from a South African perspective. They also unpack some of the important caveats when interpreting GDP. This episode of Magic Markets is sponsored by Gray Capital, an independent wealth management company in South Africa.
The Finance Ghost and Mohammed Nalla (Moe-Knows) welcome their first guest on Magic Markets, ETF and retirement fund expert Nerina Visser. They give a fresh angle on the regulatory changes to pensions. Moe thinks that markets should be free and efficient. Nerina thinks that Regulation 28 needs a rethink. The Ghost is just tired of South African management teams tapping into a trapped pool of capital and then squandering it offshore. Join these three experts as they debate how your retirement savings should be treated, sponsored by Gray Capital.
The Finance Ghost and Mohammed Nalla discuss the role of ratings agencies in the market. What do they do? Why do investors rely on them? What is a downgrade? Are there investors for junk bonds? How does South Africa elevate itself out of junk status? This episode is sponsored by Gray Capital, combining the art of financial planning with the science of investing.
After a much needed week-long hiatus, we're back with another guest interview featuring Multifamily Syndicator Spencer Gray. Spencer is the CEO of Gray Capital, LLC. His firm pursues Limited Partner, Joint Venture and General Partner co-investment opportunities to acquire stabilized cash flowing real estate assets throughout the Midwest and the Southeastern United States. This episode is jam packed with thought provoking technical discussions on everything multifamily. You won't want to miss this one, check it out today!****FUTURE LISTENERS, PLEASE START WITH EPISODE 0 AND THEN LISTEN IN CHRONOLOGICAL ORDER TO GET THE MOST VALUE OUT OF MY PODCAST****Sponsor Information:Rat Race to Financial Independence (Listeners Discount Link)To be a guest on the show, or for more information about our Podcast:Shannon J. Ludlow, MBA, CPCU, AICshannon@themultifamilyjourney.comOur Podcast WebsiteFollow-us on InstagramGuest Info and 3rd-Party Mentions:Gray Capital, LLC InstagramGray Capital, LLC WebsiteDisclaimer: This podcast will review my personal experience investing in multifamily syndications as a Limited Partner. Always seek the services of licensed third party appraisers and inspectors to verify the value and condition of any property you intend to purchase, use the services of professional title and escrow companies, and licensed investment, tax, and/or legal advisor before relying on any information contained within this podcast. Every investment involves risk, and the content shared in this podcast represents my personal opinions. I reserve the right to alter my opinions as new information is made available.
The DJ and viral star links up with the lads to laugh at childhood telly, cringey radio voices, and the chocolate cake he can never resist. #SnackinOnAColin. Recorded and edited by Luke Bateman and Elliott Williams. Artwork by Beks Matthews. Theme tune composed by Benjamin T Jackson. Follow Niall on Twitter and Insta @NiallGray. FollowContinue reading "Ep 12: Niall Gray – Capital FM Presenter"
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