Where can I find Multi-family units?

Problem is I can't seem to find Multifamilies for the most part? I search on homes.com and zillow and realtor.com and find a few here and there, but are their only truly a half dozen multifamily homes for sale in Ypsilanti or none at all in Ann Arbor?

Am I searching wrong?

Any advice?

Edited: 06/26/2010 at 10:11AM

Shanti S.

· Western, Massachusetts

208 posts
2097 Influence
3 Awards

Icon_minipost Oct 22 '09, 12:02 AM

A quick MLS search will give you an idea of how many are on the retail market, if you want to pay retail prices...

Local town hall, or professional list broker can provide lists of multifamily owners and mailing addresses if you want to try a direct mail campaign and try to find a burnt out or retirement ready landlord...

Larger MF's can be found on sites like loopnet but they're kind of like the MLS - 99% of them are not good deals, but they're good for getting a feel for the retail market and practicing some deal analysis

I'm sure others will chime in with further advice!

Edited: 06/26/2010 at 10:11AM by Shanti S.

Anthony E Russell

Real Estate Investor · Los Angeles, California

141 posts
806 Influence
1 Award

Icon_minipost Oct 22 '09, 01:10 AM

Rael,

Google "commercial real estate broker" + Canton, Michigan. 651 hits came up. That should give you some ideas to start with.

Much Success

Edited: 06/26/2010 at 10:11AM

Rich Weese

Real Estate Investor · sioux falls, South Dakota

4295 posts
43803 Influence
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Icon_minipost Oct 22 '09, 01:30 AM

There are a zillion in every area. If you're having trouble finding them, ssomething is wrong, imo. Rich

Edited: 06/26/2010 at 10:11AM

Rael Mussell

Real Estate Investor · Canton, Michigan

18 posts
188 Influence

Icon_minipost Oct 22 '09, 01:45 AM

So I just found out about loopnet -- That's a definite big help!

Lots of commercial real estate listed there.

Edited: 06/26/2010 at 10:11AM

Danny Pinello

Real Estate Investor · clifton, New Jersey

45 posts
226 Influence

Icon_minipost Oct 22 '09, 03:16 AM

Rael,
Pick an area you are interested in and use realtor.com. You can sort by city, zip, # of units, etc.
Danny Pinello
Property Network Solutions LLC

Edited: 06/26/2010 at 10:11AM by Administrator : CONTACT INFO IS NOT ALLOWED IN POSTS. PLEASE POST THIS INFO TO YOUR PROFILE OR SIGNATURE.

Joshua Dorkin

BiggerPockets Founder · Denver, Colorado

10630 posts
46531 Influence
24 Awards

Icon_minipost Oct 22 '09, 05:51 AM

Rael -
Here is a directory of commercial real estate databases. You can find other great sources like this on the sidebar of the forum or on the RESOURCES link at the top of the site.

Edited: 06/26/2010 at 10:12AM

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Natalie Melvin

Real Estate Investor · Honolulu, Hawaii

25 posts
174 Influence
1 Award

Icon_minipost May 28 '10, 01:38 AM

Rael, if you are looking for a non-listed mult-family properties, you need to establish relationship with commercial brokers in the area. By doing so you will have an access to so-called "pocket listings", the properties which they offer to their "inner" buyers first. Go to www.ccim.com you will find commercial brokers, property managers as well as properties. This site is one of the useful tools for your market, cap rate, vacancy, and expences research. Make sure when you contact them you are asking the information specific to building type (A,B,C),similar number of units, in the area of your interest. Hope this helps.

Edited: 06/26/2010 at 12:59PM by Administrator : Solicitation removed