How hard is it to find good deals?

Question

I am brand new to multifamily investing and looking to acquire my first property. I've heard that there is a lot of competition for good deals in the $1M - $5M range. So I would love to get insight from others with experience.

Just how hard is it to find good properties? How competitive is the bidding process? What are the best channels to use when looking for properties?

Anthony L Amos Jr · Answer

Finding good properties really depends on what you’re looking for. High cap rates? Cash flow? Long-term growth? Different markets offer different strengths, so start by knowing your goals and budget.

Don’t stress the competition. Just make offers that work for you—and if it doesn’t pan out, move on. Sometimes mixing it up with a seller finance option helps.

And for finding deals? Stay consistent. Use realtors, marketing, networking—just analyze a lot of properties. The good ones show up when you’re doing the work.

Matt Tortora · Answer

That's my exact range ($1M - $5M) in secondary and select tertiary markets (Raleigh, Columbus OH, Des Moines, etc...)

Samuel Diouf · Answer

I find the majority of my best deals through cold calling.

James McGovern · Answer

Multifamily deals are ridiculously hard to find especially in the northeast. Commercial real estate needs a serious market price correction to make sense

Kerlous Tadres · Answer

Hey Matt, From my experience, finding good properties in the $1M - $5M range can definitely be competitive, especially in markets that are seeing a lot of investor interest. It's not impossible, but you have to be prepared to move quickly and make strong offers. The bidding process can get tough, with multiple buyers often vying for the same property, so having your financing in place and being ready to act fast can make a big difference. I would recommend looking at off-market deals, such as those found through networking. Good deals are out there, but it takes time to find them.

Marc Rice · Answer

You need to do some research on the markets first before jumping into investing. Most of the markets have their pros and cons. Happy to share more insight on this along with my contacts!

Allan C. · Answer

I've found that deals in the $1-5M range are more plentiful than lower or higher. It's the range where most investors are priced out, and too small for the large players.

location matters, so where are you looking?

Bryce Jamison · Answer

I'm not a multi unit investor, but they are more desirable than SFHs. Mainly because it seems like every new investors first idea is to buy a duplex to live in and rent out the other side and because of economies of scale.

In the LTR world good properties are everywhere. Getting them at a price that makes them profitable is a challenge. I target properties that have been on the market for sometime, so usually there's not a lot of competition. The issue is getting the seller to accept the offer. That's fine though because I don't mind making lots of offers. Someone will eventually want to negotiate terms that work for both parties.

Zillow, driving around my area, and word of mouth are how I find potentially investments.

Preston Dean · Answer

HI @Matt Tortora

What city/state are you looking to buy in?

How hard is it to find good deals?

How hard is it to find good deals?

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