Multifamily Investing State of the Market with Marcus Long

What opportunities are multifamily investors seeing in today’s market and what should investors be paying attention to heading into 2026?


In this episode, Marcus Long and I break down the current state of the multifamily market, including interest rates, distressed opportunities, refinancing challenges, transaction trends, and what we’re seeing as active operators in today’s environment. We also share several real-world case studies from our own portfolio, and walk through how we approached acquisitions, asset management, refinancing, and exits in a difficult market cycle.


We talk about why today’s market conditions are creating unique buying opportunities, how higher interest rates have impacted multifamily operators, and why broker relationships, strong asset management, and conservative underwriting matter more than ever right now. We also discuss why we remain optimistic about multifamily investing this 2026, particularly in markets like Dallas-Fort Worth and Oklahoma City.


Head on to our YouTube channel to see the graphs: https://youtu.be/dUO4RWoM_OY


Timestamp

00:00 Intro

00:32 Multifamily investing State of the Union

03:43 Track record and NOI growth across past deals

05:11 Interest rates and how they impact real estate

08:15 Cap rates, Treasury yields, and rental demand

11:30 Multifamily transactions, distress, and refinance risk

15:20 2025 strategy and portfolio case studies

15:55 Parkside Apartments refinance and 50% capital return

17:46 Sierra Condos full-cycle exit

19:12 Townhouse Apartments acquisition story

22:57 2026 multifamily acquisition strategy

26:20 What investors can control in today’s market


What We Cover

  • Interest rates and their impact on multifamily investing
  • Cap rates, refinancing, and distressed opportunities
  • Why 2026 may create strong buying opportunities
  • Real-world case studies from our portfolio
  • Asset management and operational execution
  • Market selection and underwriting strategy
  • Broker relationships and finding off-market deals
  • What passive investors should understand today


Key Takeaways

  • Market challenges often create the best long-term opportunities
  • Strong asset management can dramatically improve property performance
  • Conservative underwriting matters even more during uncertain markets
  • Relationships drive deal flow in multifamily investing
  • Long-term fixed-rate debt reduces risk during volatile cycles
  • Investors who stay disciplined during difficult markets are often rewarded later


Resources

 

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