Transaction volume in multifamily is down 60 to 70%. The syndicators still winning are the ones using deal structures most people haven't touched in years. In Part 1 of this three-part series, syndication attorney Dugan Kelley — a 23-year legal veteran and trusted advisor to Think Multifamily for over seven years — breaks down exactly what has shifted in the acquisition market and what operators, sponsors, and investors need to know right now. In this episode you will learn: • Why the market has flipped from seller-driven to buyer-driven — and what that means for earnest money, due diligence, and deal structure • How loan assumptions, seller carrybacks, and contract-for-deed are becoming primary negotiation tools instead of last resorts • What the trillions in maturing multifamily debt means for deal flow over the next 12 to 18 months • Why SEC regulatory shifts around Regulation D matter for every syndicator raising capital right now • How to explain bonus depreciation and 1031 exchange benefits to potential investors — and why you must be able to This is the episode that reframes the current market — not as a crisis, but as one of the most significant buying opportunities in a generation. Ready to learn alongside serious multifamily investors in person? Join us at our next live event at https://thinkmultifamily.com/event Subscribe to the Think Multifamily Podcast on Apple Podcasts and Spotify. Check out the shownotes for this podcast here.