💸 Invest passively in multifamily real estate: https://reedgoossens.com/

Reed Goossens is a multifamily operator and syndicator, founder of RSN Property Group, with assets across Texas, Phoenix, and the Carolinas.

This episode is hosted by Gary. We're joined by Reed Goossens, founder of RSN Property Group and host of the Investing in the U.S. podcast.

In this conversation, Reed shares what it actually looks like to operate multifamily assets through one of the most drawn-out downturns in the sector's recent history — from rents hitting new lows in 2025 to distributions stopping and equity raises stalling out across the board.

We get into why Reed believes this cycle is harder than 2008, how he's finding deals in a bifurcated market, why basis matters more than ever right now, and what led him to launch a CPA firm rollup as a way to future-proof his business outside of multifamily deal flow.

If you're a multifamily operator or passive investor trying to make sense of where the market stands today, this episode gives you a ground-level view from someone actively working through it.

Key Takeaways:

00:00 Intro

02:29 Is multifamily in a recession right now?

04:13 Why this cycle is harder than 2008

06:44 How technology changed the commercial real estate landscape

08:35 Where to find deals in today's bifurcated market

10:24 Distressed operators vs. distressed deals — knowing the difference

12:41 Why raising equity is the defining challenge for sponsors right now

14:38 The CPA firm rollup strategy explained 18:03 Structuring acquisitions with seller equity rollovers and carry notes

21:13 Future-proofing a sponsor business beyond deal flow

22:34 Outro

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