Cap rates on most real estate asset classes have dropped 40% over the past five years. This has made cash flow very hard to achieve. Ground-up construction, on the other hand, has much higher cap rates. The key is mitigating risk by being in the right markets with the right assets. Today’s guest, Neal Bawa, the Mad Scientist of Multifamily, has been doing ground-up construction in smaller markets in several different asset classes in order to generate attractive returns for investors.