{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"Multifamily Deal Analysis Fundamentals \u2014 Cap Rates, Economic Vacancy & Income Growth Red Flags","description":" One line item change \u2014 property taxes \u2014 turned a 22% IRR into a negative 10%. That\u2019s what happens when investors skip the fundamentals. In this solo episode, Mark Kenney walks through the core concepts every multifamily investor needs before they underwrite their next deal: cap rates, economic vacancy, income growth assumptions, and the specific red flags that reveal a pro forma built to sell rather than reflect reality. In this episode you will learn: \u2022 The real deal example: how one property tax adjustment flipped a 22.7% IRR to negative 10% \u2014 without changing anything else \u2022 Cap rates explained clearly \u2014 the three versions investors need to know and why the in-place cap rate is often misleading \u2022 Economic vacancy broken down \u2014 the four components, why they\u2019re not created equal, and which one is hardest to fix \u2022 Loss to lease: why it\u2019s Mark\u2019s favorite vacancy metric \u2014 and when it\u2019s being used to inflate a deal \u2022 Why 100% unit renovation in year one is almost never realistic \u2014 and why you actually don\u2019t want it \u2022 The utility bill-back staging red flag: how to spot a pro forma that shows full RUBS income from day one This is the pre-flight checklist for anyone evaluating a multifamily deal in today\u2019s market. Join us at our next event at https:\/\/thinkmultifamily.com\/event Subscribe to the Think Multifamily Podcast on Apple Podcasts and Spotify.   Read the full podcast shownotes, timestamps, resources, and key insights from this episode here: Podcast Show Notes ","author_name":"Think Multifamily Podcast","author_url":"https:\/\/thinkmultifamily.com","html":"