Multifamily Insights

Each week, John Casmon speaks with real estate pros and marketing specialists to provide useful tips for multifamily investing. Listen and learn insights for market research, finding deals, attracting capital, and growing your portfolio.

Multifamily Insights is a business podcast hosted by John Casmon, with 816 episodes on record and a Required Pod Score of 80.

John Casmon hosts Multifamily Insights, a business show with 816 episodes published.

Our AI reads these to draft pitches. Use them as grounding for a pitch that cites a real guest and a specific topic.

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  Multifamily Insights

  When "Buy and Hold" Stops Making Sense, Ep. 810

  Sep 23, 202612 min

  This week, learn how to decide whether to sell or hold a multifamily property you already own. John Casmon answers a question many investors are asking him, and explains why holding an asset indefinitely can cost you upside. The longer your equity stays locked in one deal, the higher the opportunity cost, and there is an ideal window to sell and maximize returns. John walks through the questions he asks before making the call: how the property is performing today, how the current market would receive it, what you plan to do next, how much upside remains, and what options your loan, your investors, and your reinvestment opportunities leave you. He also explains why current conditions are unfavorable for sellers and how cap rate expansion erased value for operators who successfully grew NOI. If you own an asset and are weighing an exit, this episode gives you a practical framework for timing that decision. Make sure to download our free guide, 7 Questions Every Passive Investor Should Ask, here . Key Takeaways Account for the opportunity cost of equity locked in a deal Let current property performance guide the decision to sell or hold Fix operational issues yourself before passing them to a buyer Weigh remaining upside against the risk of cap rate expansion Review your loan term, investor needs, and reinvestment options before selling Stick to your business plan and avoid getting greedy Topics The Hidden Cost of Holding John believes investors should always be buying, with a clear business plan and debt strategy Holding a property too long gradually reduces your upside At some point, locked equity can create more value in another deal Start With Property Performance Strong current performance tends to signal strong future performance and supports holding A property that held up over the last 3 to 4 years has proven its resilience Persistent occupancy, collection, or expense problems strengthen the case to sell Fix Problems Before You Sell Buyers will either inherit your operational issues or need to address them upfront If you can solve those issues, John recommends doing it so the buyer starts with a clean slate Emotional fatigue from a difficult property is a valid factor in the decision Read the Market Conditions Assess whether a sale would achieve fair value or only attract discount buyers Identify whether weak demand stems from the market, location, asset class, or operations The less you can control, the stronger the case for exiting At the time of recording, conditions favor buyers and sellers are missing out on premium pricing Define What Comes Next John shares a coaching client weighing a refinance against a sale Long-term goals determine whether a sale should fund the next opportunity Without a next deal in mind, the decision rests on the current asset alone Measure the Remaining Upside A $3 million purchase now worth $5 million, with a path to $8 million, makes a strong case to hold A path from $5 million to $5.5 million may not offset the opportunity cost of reinvesting Many operators grew NOI and still lost value when cap rates expanded Know Your Options Review loan maturity, investor appetite, and reinvestment options such as a 1031 exchange Limited options favor holding and weathering the storm An expiring loan or investors who want out push the decision toward selling Years left on a fixed-term loan and satisfied investors remove the pressure to sell Revisit Your Business Plan Changing your planned hold period requires a compelling reason If you hit your numbers, avoid holding on to squeeze out extra profit If you are close, have protected downside, and see real upside, holding can make sense 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 for discussions, live webinars, and expert guests Review the current performance of every asset you own Resolve operational issues before taking a property to market Compare the remaining upside on each deal against the opportunity cost of reinvesting Check loan maturity, investor expectations, and reinvestment options Measure your results against your original business plan 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.

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  Multifamily Insights

  The Tax Mistake Quietly Costing Real Estate Owners Six Figures with Tom Brodie, Ep. 809

  Sep 15, 202636 min

  Tom Brodie is a National Account Executive with CSSI, the nation's premier engineering-based consulting firm specializing in tax law surrounding commercial buildings. With over 23 years of experience and more than 65,000 studies completed, CSSI has a proven track record of delivering significant tax savings without triggering a single audit. Tom spent 27 years at Shell Oil before taking early retirement and moving into the scuba industry, where he worked for a Houston-area scuba retailer. Wanting work that was less dependent on discretionary spending in an oil-driven local economy, he found cost segregation and assumed every building owner already knew about it. Most did not. Today, based in Houston, Tom works with commercial and multifamily owners to reclassify building components into faster depreciation schedules and to correct costly errors buried in existing depreciation schedules. Most building owners have never run a cost segregation study, and many who have are still leaving money on the table. In this episode, Tom Brodie of CSSI walks John through what a study actually does, why a CPA cannot perform one, and the land valuation error he keeps finding on depreciation schedules that quietly costs owners six figures. Tom shares two real examples, explains how recapture and 1031 exchanges change the math, and clarifies when it is too late to act. Make sure to download our free guide, 7 Questions Every Passive Investor Should Ask, here . Key Takeaways Break a building into 5, 7, and 15-year asset classes instead of one 27.5 or 39-year schedule Claim 100% bonus depreciation on anything a study identifies with a life under 20 years Audit your depreciation schedule for an inflated land value, because land can never be depreciated Hold at least 3 to 5 years after a study, or use a 1031 exchange, so recapture does not erase the benefit Use a change of accounting method to catch up missed depreciation without amending prior returns Topics What Cost Segregation Actually Does A study divides a building into faster-depreciating asset groups instead of one straight-line schedule The structure stays at 27.5 years for residential or 39 for commercial; interiors and site work move to 5, 7, or 15 years Parking lots, irrigation, security systems, lighting, landscaping, and flagpoles all fall in the 15-year bucket Why the Strategy Stayed Obscure Cost segregation dates to the late 1990s but was originally priced for owners of skyscrapers CSSI brought the cost down far enough to study buildings valued from $200,000, excluding land Tom says most CPAs lack the time and resources to do it, and many never raise it with clients Why It Takes an Engineering Study Counting every window, door, appliance, and countertop across a portfolio is an engineering exercise CSSI delivers dollar totals by asset class for the CPA to plug into the depreciation schedule Tom notes CSSI does not prepare returns, so the handoff stays clean A Medical Office Building Example A 53,000 square foot medical office building completed in December 2023, valued at roughly $12.9 million Straight-line depreciation for that first month came to $13,790 The study identified about $1.1 million in tangible personal property and $3.1 million in land improvements At the 80% bonus rate then in effect, that produced roughly $3.4 million of first-year depreciation The Land Value Error Hiding in Depreciation Schedules A Colorado rental carried $500,000 in land value against a county assessment of $125,000 Reallocating the $375,000 overage lifted the building basis from $522,384 to roughly $897,000 The owner had held the property four years without knowing the error existed Tom recommends validating land value against county records, or a commercial realtor's opinion as of the purchase date Correcting Past Years Without Amending Returns A change of accounting method form allows a catch-up deduction in the current tax year The IRS treats the filing as an automatic acceptance, so prior returns stay untouched CSSI prepares the form as part of every study for the CPA to submit Recapture, Hold Periods, and the 1031 Exchange Selling soon after a study can let recapture consume the entire savings Tom recommends holding at least 3 to 5 years so reinvested savings outrun the recapture A 1031 exchange defers the gain entirely and is the cleanest way to avoid recapture What Qualifies and What Does Not Personal residences do not qualify; commercial and investment property does An owner-occupied duplex can be studied for the rental portion only A vacation rental is prorated based on the owner's personal use during the year Cost Segregation Inside a 1031 or a Syndication Tom recommends a study on both the relinquished and the replacement property Carryover basis reduces the new study's base, and the benefit still holds In syndications and JVs, depreciation flows by ownership percentage under the partnership agreement When It Is Too Late, and the Biggest Mistake Properties owned under ten years are worth evaluating; past twenty, there is usually little left to accelerate CSSI runs no-cost, no-obligation estimates before any commitment Tom says the biggest mistake is simply failing to pursue every tax benefit in the code He notes 100% bonus depreciation returned with no scheduled phase-out, unlike the version that stepped down after 2022 Announcement: Learn about our Apartment Investing Mastermind here . Round of Insights Failure that set Tom up for success: On one of his first large projects he accepted the stated land value without questioning it. Looking back, he believes he could have saved the client more, and he now scrutinizes land allocation on every study. Digital or mobile resource: LandGlide , a mobile app that pulls public ownership records for a parcel while you are standing on the property. Book recommendation: Building a StoryBrand by Donald Miller. Daily habit: Working from a CRM pipeline that shows every project's stage visually, so the day's priorities and next actions are clear at a glance. #1 insight for using a cost segregation analysis: Have one done. Request a no-cost, no-obligation estimate and let the numbers decide. Favorite restaurant in Houston, TX: Gringo's Mexican Kitchen . Next Steps Reach out to Tom Brodie directly at tom.brodie@cssiservices.com Learn more about CSSI here . Pull your depreciation schedule and check the land-to-building allocation against county records Request a no-cost estimate before committing to a study Confirm your hold plan, since selling within a year or two can erase the benefit Ask whether a change of accounting method applies to properties you already own 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.

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  Multifamily Insights

  Why Success Starts With Who You Become With Jonathan Berryhill, Ep. 808

  Sep 8, 202639 min

  Jonathan Berryhill is a former US Army infantry sergeant and law enforcement officer turned real estate entrepreneur, broker, and multifamily investor. He has built multiple seven and eight figure businesses, three real estate brokerages, and a team of over 50 agents. Today he specializes in multifamily investing, real estate growth, leadership, wealth building, discipline, and entrepreneurship. Jonathan grew up dirt poor in a broken home, served in the Army, worked narcotics in law enforcement, and walked on to play linebacker at the University of North Alabama at 25. He moved into medical sales, became a chief operations officer, then launched and sold his own medical device company. He and his wife now live on their farm in North Alabama with six children and four grandsons, and he leads America's Outdoor Realty and Elite Properties of the South across Alabama and Tennessee. His first book, Warrior to Wealth, is releasing this fall. In this episode, Jonathan Berryhill breaks down how he rebuilt his marriage, his identity, and his finances after filing for divorce at 25 with no money and no plan. He explains why alignment at home comes before growth in business, how he wrote down the man he wanted to become and started acting like him, and what separates people who commit from people who try. Jonathan also shares the failure that redirected his real estate career and previews his upcoming book, Warrior to Wealth. Make sure to download our free guide, 7 Questions Every Passive Investor Should Ask, here . Key Takeaways Define your why clearly enough that it survives setbacks Fix your home life before trying to scale a business Act like the person you want to become, starting now Pay for mentorship through books, podcasts, and lunches Surround yourself with people operating a level above you Know what you are bad at and move toward what you do well Topics From a Mobile Home Floor to a Vision Jonathan grew up dirt poor with plywood covering holes in the floor of his father's mobile home He could visualize a businessman version of himself and refused to repeat what he grew up in The Turning Point at 25 His marriage was in shambles and he and his wife had filed for divorce He called her in Hawaii and promised a life she could only dream of, with no idea how He left law enforcement and walked on to play linebacker at the University of North Alabama Building the Entrepreneurial Track Record Jonathan moved into medical sales and became a chief operations officer He launched his own medical device company and sold it a few years later He and his wife started buying land 14 years ago, which led him into land sales Pick Your Hard Fear of returning to poverty drove him for the first decade of his career He let it go after realizing that being poor is hard and building wealth is hard, so you choose which Alignment Comes First Jonathan frames every area of life as either in line or out of line, starting with home His wife has been his biggest supporter since they reconciled Comfort kills progress in relationships, business, and fitness Motivation vs. Discipline He runs a self-audit: do my daily actions match the goal I say I want Discipline means doing the work on the days you do not feel like it Mentorship and Finding Your Tribe Most people will not spend on a book, a podcast, or a lunch that could change their trajectory Jonathan still seeks mentors at 49 and joins a weekly entrepreneur networking call Weak relationship building is what stalls most people at the next level Forge the Identity, Then Do the Work He wrote down who he wanted to become and started doing what that man would do His advice to an aspiring CEO: study who that CEO knows and what he does daily, then copy it You become the athlete before the recruitment, not after Warrior to Wealth The book is built on three statements: find your mission, forge your identity, build your legacy Jonathan writes openly about his biggest failure, being unfaithful in his marriage He aims to give readers belief that his path is repeatable It Happens Because of You Trying something for 30 to 90 days is not a commitment Jonathan rejects "I have done all I could do" as an escape route Success, a strong marriage, and results all happen because of you Serving Veterans on the Farm Jonathan hosts fishing, hunting, and rodeo events for veterans on his family farm Ruck and Rawhide, supported by the Alabama Department of Veterans Affairs, raises awareness for veteran suicide Announcement: Learn about our Apartment Investing Mastermind here . Round of Insights Failure that set Jonathan up for success: House flipping. His last flip ate his lunch, which pushed him into flipping land instead. He became a land broker and was named broker of the year out of more than 140 offices in his first year. Digital or mobile resource: Podcasts. Download a podcast app and fill your drive time and work hours with positive, influential voices. Book recommendation: Atomic Habits by James Clear, Rich Dad Poor Dad by Robert Kiyosaki, and How to Win Friends and Influence People by Dale Carnegie. Daily habit: Speaking gratitude out loud before getting out of bed, naming at least a dozen things he is thankful for. #1 insight for maintaining a positive mentality: Start with gratitude, then guard what you feed your eyes, ears, and mouth, because that input shapes your mind and your thinking. Favorite restaurant in North Alabama: Cotton Row in Huntsville for family dinners, and Catfish Cabin in Athens for a quick bite. Next Steps Preorder Warrior to Wealth and learn more about Jonathan here: jonberryhill.com Write down the identity you want to build, then list what that person does daily Audit whether your current actions actually match the goal you claim to want Find one person ahead of you in your industry and buy them lunch Join or build a group of entrepreneurs operating a level above you Get your home life and foundation aligned before scaling anything else 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.

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  Multifamily Insights

  Buy, Sell, or Hold? How I'm Navigating Multifamily Right Now, Ep. 807

  Sep 1, 202614 min

  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.

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  Multifamily Insights

  The Capital Raising Mistake That Nearly Killed Their Firm With Richard McGirr, Ep. 806

  Aug 25, 202642 min

  Richard McGirr is the co-founder and CEO of Property Llama and Property Llama Capital, an income focused fund sponsor that helps accredited investors move underperforming real estate equity into passively managed, cash flowing investments. He also hosts Unlimited Capital on the Best Ever CRE network, where he covers capital raising, fund operations, and the business of building an investment platform. Richard and his partner Chris Lopez launched their own firm roughly two years ago, after raising about $55 million in 18 months at a previous shop. The first twelve months were a grind. Today the firm runs about $42 million in its own debt fund, raised $24 million last year, and treats capital raising as a measurable sales and marketing operation rather than a relationship exercise. Richard McGirr returns for part two to open the books on capital raising. He starts with why debt funds reshaped his business. Carried interest is collected every month rather than at a sale, which turns a raise into recurring revenue instead of a run of acquisition fees. With rates elevated, investors have pulled in their time horizons, and a fund that distributes within 60 days is a far easier sell than an equity deal that pays on exit in year five. From there Richard walks through the machinery. He explains why launching his own firm nearly failed once the low hanging fruit ran out, why weekly dials are the leading indicator he manages against, and why he pays for access to trusted distribution instead of building an audience from scratch. He also lays out his full funnel, from a single webinar to a 50 email drip to a same day phone call triggered by a link click. Make sure to download our free guide, 7 Questions Every Passive Investor Should Ask, here . Key Takeaways Debt fund carry is collected monthly, which turns a raise into recurring revenue Higher rates shorten investor time horizons and favor shorter lockups Manage weekly dials and new qualified leads, because both sit inside your control Buy access to trusted distribution rather than building an audience from scratch One webinar delivered repeatedly outperforms ten new ones Call every investor who clicks a link, the same day Topics Why Debt Funds Became the Engine of the Business Carried interest is collected monthly, not at a sale About $42 million in the fund throws off just under $2 million a year in carry At their previous firm, the debt fund quietly covered company payroll Why Debt Funds Sell Faster Right Now Higher rates pull investor time preference in LPs receive a first distribution within 60 days Lockups run 18 to 24 months, with monthly loan payoffs providing liquidity Why the Launch Nearly Failed The easy network at the previous firm was already tapped Every personal network runs out eventually Messaging, product selection, sales management, and email drips all had to be rebuilt Dials Are the Metric You Control Sales results are input driven, and inputs are the only controllable variable Richard's team makes 200 calls a week Moving from 25 to 100 dials a week tripled soft commits within two weeks Lead Quality Over Lead Volume Minimums are $100,000, with no exceptions Two paid Best Ever webinars raised $1 million each, at roughly half a percent media cost of capital A webinar swap with an estate planner produced 600 registrants and zero closes Large audiences skew toward broad content and non-accredited viewers Brand Transfer From Paid Webinars Presenting on a trusted platform borrows that platform's credibility Investors arrive already willing to listen, so there is less convincing to do The result is a higher conversion rate in less time Earned Media vs. Paid Media Earned media costs nothing and converts well, but the ceiling is low Richard hosts on Best Ever CRE and Chris Lopez hosts on PassivePockets Paid webinars buy speed, volume, and control over timing One Webinar, Delivered Repeatedly The Intro to Private Lending webinar is the only one they run Staff are tasked with sourcing groups and pricing webinar slots Fear the operator who has delivered one webinar 10,000 times Go Where Buyers Already Gather Publishing content and waiting to be found rarely reaches your ideal investor Target communities built around passive income and financial independence Capital raising is a two sided market, and plenty of people are already looking to deploy Richard's Funnel, Start to Finish A webinar form on the site leads to the replay and a 50 email drip Any link click notifies the sales team on Slack and triggers a same day call Of 25,000 contacts, roughly 100 are actively in market at any given time Winning the Attention Battle Investors triage hundreds of emails a day, and your offering sits at the bottom Rank your list by opens and clicks before you start dialing Ask for a specific commitment, such as watching the webinar within three days Interested investors rarely call to say they are on the fence, they simply go quiet Announcement: Learn about our Apartment Investing Mastermind here . Next Steps Learn more about Property Llama Capital here: capital.propertyllama.com Watch the Intro to Private Lending webinar linked on the Property Llama Capital homepage Hear part one with Richard in episode 804 , including his Round of Insights Track weekly dials and new qualified leads as your two core capital raising metrics Rank your lead sources by close rate rather than by volume Pitch communities that already invest passively instead of general audiences Build one webinar that converts, then get it in front of more qualified people Call the investors who open and click your emails, the same day 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.

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