The New Math of Multifamily Investing
- Trevor Calton
- 10 minutes ago
- 1 min read

by Trevor Calton
The commercial real estate market has changed dramatically. The underwriting assumptions that worked just a few years ago are now broken, leaving many multifamily owners feeling like "mortgage prisoners," trapped by high rates and a volatile market.
This shift requires a new playbook. In my latest in-depth analysis, I break down the new math of multifamily investing, exploring the concept of the "funding gap" and the strategic shift sophisticated investors are making to navigate today's high-stakes environment.
This article is a must-read for any owner or operator preparing for a 2025 refinance or planning their long-term capital strategy.
This is a brief excerpt. The full article is available on our commercial real estate educational platform, Real Estate Finance Academy.
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