My business partner & I are gearing up to buy our first property. We want to focus on SMF properties in Georgia (to start). Nothing more than a 4-plex to start, flexible on price. We're still building our A-team of a PM, contractor, agent & wholesaler so in the meantime, relying a bit more on sites like Zillow to find & analyze deals.
Other SMF investors, where could I go to see multifamily properties for sale other than using your referral network?
@Alex Kesner, which Georgia market are you specifically looking into? Acquiring small multifamily properties in the surrounding ATL submarkets is challenging due to the consistent factors of low inventory and the high demand we're still seeing from cash buyers. Sourcing deals from the MLS and wholesalers is plausible, but you may also want to consider going direct to seller. If you have a marketing budget, you could try and connect with a motivated seller via direct mail, cold calls/texts, ads, etc. If you're in-state, I'd recommend attending investment meet-ups to tell everyone within you're sphere what you're looking for. Hope this helps.
@Alex Kesner, which Georgia market are you specifically looking into? Acquiring small multifamily properties in the surrounding ATL submarkets is challenging due to the consistent factors of low inventory and the high demand we're still seeing from cash buyers. Sourcing deals from the MLS and wholesalers is plausible, but you may also want to consider going direct to seller. If you have a marketing budget, you could try and connect with a motivated seller via direct mail, cold calls/texts, ads, etc. If you're in-state, I'd recommend attending investment meet-ups to tell everyone within you're sphere what you're looking for. Hope this helps.
I see quite a bit of SMF in/around Rome GA (I know they have Berry College and some other college in the area). It's typically pretty cheap, just a bit further out than I want to deal with. I know all the SMF around the NW Atl suburbs are all quite high as I've been looking for something remotely reasonable the past 6 months.
Same here. Has anyone invested in the Macon/bibb county market? I know growth isn't great but there are some signs pointing to moderate growth. Still researching and deciding if I want to try that market. Also looking for a 2 to 4 plex ideally.
Hi Alex, I am a real estate agent in the Athens, GA area. I find that looking for deals before they hit the MLS works the best, but I have still seen some pretty good deals on the MLS here and there. I would love the opportunity to work with you if you're interested and still looking for an investor friendly agent in GA. Please let me know how I can help. :)
Hi Alex, In addition to Zillow, check out Loopnet, Crexi, CoStar (requires subscription), or MLS (if you have access). If you have interest in a property give the listing agent a call, you may not find the best deal initially but having a conversation with the agent can be a good start to creating a relationship and letting them know what your buy boxes are.