The Risks of Locking in Short Term Debt

I think the assumptions on the debt, especially the short term, instead of being long term and the turnaround on the multifamily syndications were off. I have for years told people, this is so dangerous. We don't know when rates are going to go up. Like, you just can't willy nilly do this. In the past, you could refi out in two years, but we've known anyone who has any sophistication and understanding in the space knows that interest rates could have changed at any time. And anytime you're locking in short term debt, that is a risk.

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