The multifamily market has gone through one of the most challenging cycles in decades but are we finally at the bottom?

In this episode, Stephen Lee Thomas sits down with Neal Bawa, the “mad scientist of multifamily,” to break down exactly where we are in the current market cycle and what comes next.

From interest rate shocks to massive supply waves, Neal explains why even well-run properties are failing… and why the next few years may present one of the biggest opportunities in real estate.

What you'll learn:

• Where the multifamily market stands in 2026
• The real reason properties are failing (it’s not operations)
• Why rent growth stalled and what happens next
• How long it actually takes to raise capital (data-backed)
• The biggest underwriting mistake investors are making today
• Top markets to watch for future growth

Key highlights:

• Multifamily prices peaked in Q1 2022
• 3 years of decline followed by stabilization
• Supply surge is ending → future upside
• Capital raising takes ~378 days on average
• Communication is critical during downturns

Ways to Connect with Neal Bawa Website; https://grocapitus.com LinkedIn: https://www.linkedin.com/in/neal-bawa/ Free eBook: Location Magic - https://multifamilyu.com/lp/location-magic-ebook/ Join Our Investor Club – https://multifamilyu.com/club

Listen now and book your spot to be our next guest: https://whenrealestategetsreal.com/podcast-booking