EPS 351 - “Nobody Wants to Build Apartments…And That's the Opportunity!”

What if the biggest apartment investment opportunity of the next decade is being created RIGHT NOW…because developers have STOPPED building? After three years of record apartment deliveries, falling rents, and aggressive concessions, the multifamily development market may finally be approaching a major turning point. On this episode of the Old Capital Real Estate Investing Podcast, we welcome Matt Enzler with Trammell Crow Residential (TCR), one of the nation's leading multifamily developers, to explain why today's construction slowdown could set the stage for significant rent growth between 2027 and 2030.  Matt takes us behind the scenes of apartment development, from finding the perfect piece of land to navigating zoning approvals, construction challenges, and institutional equity requirements.  Did you know that developers can spend $500,000 to $1 million just getting a property entitled, without any guarantee they'll ever be allowed to build? Matt explains why institutional investors are demanding 6.5% to 7% yields on cost, why higher interest rates continue to kill potential deals, and why many developers are sitting on the sidelines. But here's the interesting twist: Construction costs have reportedly dropped 15% to 20% in certain markets, potentially creating a major competitive advantage for experienced developers willing to move forward today. We also discuss why many inexperienced developers may never return, how luxury apartment amenities are changing, and why the shortage of new construction could eventually shift pricing power back to apartment owners. The big question: When everyone else has stopped building apartments, is that exactly when the smartest developers should be getting started?

Learn alongside experienced apartment owners, brokers, property managers, attorneys, and other industry professionals as we walk through the entire acquisition process—from finding and underwriting deals to financing, due diligence, raising equity, and submitting an offer. This isn't about theory. It's about learning how apartment deals actually get done in today's market. Real Deals. Real Experts. Real-World Experience.

Learn more and apply to the Old Capital Multifamily Accelerator:
OldCapitalAccelerator.com