Buy, Sell, or Hold? How I’m Navigating Multifamily Right Now, Ep. 807
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Written by John Casmon

September 1, 2026

This week, learn how John evaluates the current multifamily market and decides whether to buy, sell, or hold. John opens with the question he hears most often from investors in the current portfolio: what is the outlook, and where does the firm stand as a buyer or a seller today?

John explains what has changed. Higher interest rates raised the cost of capital and made it harder to find deals that pencil, while higher savings rates gave investors a low risk alternative that did not exist a few years ago. He walks through the framework he uses in response: separate what you cannot control from what you can, start with operations and the value add upside still available, then weigh that against the runway left on the loan.

He also makes the case for thinking like a trader of assets, explains why leverage determines who wins a trade, and shares why he believes multifamily fundamentals remain healthy despite the short term pressure in the market.

Make sure to download our free guide, 7 Questions Every Passive Investor Should Ask, here.

Key Takeaways

  • Stop spending energy on variables you cannot control
  • Evaluate every deal individually before making portfolio decisions
  • Weigh the value add upside still available against the time left on the loan
  • Never put yourself in a position where you are forced to sell
  • Treat assets as trades and know where your leverage sits
  • Expect forced sellers over the next 12 to 18 months to create buying opportunities

Topics

What Investors Are Asking Right Now

  • Investors want to know the outlook and whether the firm is buying or selling
  • Most deals in the portfolio are cash flowing, though not at past distribution levels

Why the Market Has Changed

  • Higher interest rates raised the cost of capital and thinned the pool of deals that pencil
  • High yield savings accounts now pay a decent return for far less risk
  • Investors are more cautious after deals that did not perform as projected

Focus on What You Can Control

  • John tracks the economy, the Treasury, and the value of the dollar without fixating on them
  • Interest rates in 2027 and election driven policy changes sit outside any operator’s control
  • Awareness informs the projection; energy goes toward internal execution

Operations Come First

  • Every deal gets reviewed individually for performance, cash flow, and remaining upside
  • If rents can still be pushed and demand is strong, keep executing the business plan
  • Once the value add is captured, the deal moves into a second phase

Loan Term Drives the Exit Decision

  • A short runway with the value already captured points toward selling sooner
  • A longer runway with upside remaining supports holding the asset
  • Most deals fall between those two cases and require weighing both factors

Selling on Your Terms

  • John is a seller at the right price but wants to stay in control of the timing
  • He expects some operators to be forced to sell over the next 12 to 18 months
  • Groups already exiting at a loss will create opportunities for prepared buyers

Why Multifamily Fundamentals Remain Healthy

  • Population growth and the housing shortage have not gone away
  • New construction starts have tapered off after several heavy supply years
  • Midwest markets such as Cincinnati saw smaller swings in both directions

The Trade Mindset

  • Brokers talk about assets trading, and John applies the same framing as an investor
  • The mindset centers on a clear business plan and a defined exit instead of an indefinite hold
  • John compares the approach to running a sports team as a general manager

Leverage Wins Trades

  • Owning an asset other buyers want is what creates leverage
  • Anyone forced to offload a deal rarely gets the number they wanted
  • Positioning for competition, demand, and a strong story protects value at exit

Reading Market Sentiment

  • What buyers are willing to pay matters more than John’s own view of value
  • The firm buys when the business plan works and the price makes sense
  • Evaluation is continuous, not a position set in stone

📢 Announcement: Learn about our Apartment Investing Mastermind here.

Next Steps

  • Explore the Apartment Investing Mastermind and request more details here.
  • Join the free Investor Insights community on Facebook to continue the conversation
  • Review each deal in your portfolio for the value add upside that is still available
  • Map the time left on every loan against the value you have already captured
  • Identify where you hold leverage and where you could be forced to sell
  • Track what buyers in your market are willing to pay, not only your own valuation

Thank you for joining us for another great episode! If you’re enjoying the show, please LEAVE A RATING OR REVIEW, and be sure to hit that subscribe button so you don’t miss an episode.