Found a potential multi-family lead Not sure how to proceed.

3 Replies

I have a potential lead on a 24-unit apartment complex in my metro area. According to the tax assessor’s website, the current owners are out-of-state. So far, I’ve only dealt with smaller properties and local owners, so I’m not sure how to proceed. I’m not sure how to crunch the numbers on a multi-family of this size, and I’m not sure the best way of contacting the owners. Any advice is appreciated! If it turns out to be a workable deal, I would also be needing to take on a partner or partners.

@Erin Auman doesn't the tax assessor have contact information for the owner, if nothing else current address? If not you may have to skip trace to get additional info on them if not. 

As far as numbers there are a few places where you can get spreadsheets to crunch numbers. I think @Jonathan Twombly has one on his site that would work for you. I'm sure others do as well or you can even use the Bigger Pockets Tools if you're a Pro Member. 

@James Dickens

I got the address from the tax assessor, but it is listed under an LLC, so I don't know any names. I'm guessing the skip trace would provide that, too? Do you recommend any companies or websites to do the skip trace?