Where do you find good multifamily residential deals? Websites?

8 Replies

I am beginning to look for deals to analyze so I can make my first investment. Where do I look/who do I ask, etc. to find multifamily properties? Will places like Realtor.com, Trulia, Zillow, etc. cut it or should I be checking other places? If I am to get good deals coming my way from agents/brokers, how can I expect to be the one given the good deals over other people who are already close/friends with the agents/brokers? Thank you in advance to you for any and all advice given.

  1. @Ben Feder You are right. Deals that are listed are usually not as good as deals that come to you. Here are some ideas:
  1. Setup a website (recommend carrot sites)
  2. Set up a Facebook page.
  3. Post ads on online classified sites
  4. Start running Facebook Ads looking for your properties
  5. Search FSBO sites that you mentioned. You might find something.
  6. Attend local Real Estate Investment Group. Tell everyone what you are looking for.
  7. Contact property management companies. Meet with as many as you can.
  8. Contact several realtors. Meet with as many as you can.
Originally posted by @Jim Pellerin :
  1. @Ben Feder You are right. Deals that are listed are usually not as good as deals that come to you. Here are some ideas:
  1. Setup a website (recommend carrot sites)
  2. Set up a Facebook page.
  3. Post ads on online classified sites
  4. Start running Facebook Ads looking for your properties
  5. Search FSBO sites that you mentioned. You might find something.
  6. Attend local Real Estate Investment Group. Tell everyone what you are looking for.
  7. Contact property management companies. Meet with as many as you can.
  8. Contact several realtors. Meet with as many as you can.

Thank you Jim! I have shifted focus though to multifamily commercial (apartment buildings primarily 10+ units, eventually hitting 50+ units, and then long term goal of buildings with 100+ units). Do the same suggestions still apply or are there other better ways to get deals on large multifamly deals (apartment buildings)?

Originally posted by @Ben Feder :
Originally posted by @Jim Pellerin:
  1. @Ben Feder You are right. Deals that are listed are usually not as good as deals that come to you. Here are some ideas:
  1. Setup a website (recommend carrot sites)
  2. Set up a Facebook page.
  3. Post ads on online classified sites
  4. Start running Facebook Ads looking for your properties
  5. Search FSBO sites that you mentioned. You might find something.
  6. Attend local Real Estate Investment Group. Tell everyone what you are looking for.
  7. Contact property management companies. Meet with as many as you can.
  8. Contact several realtors. Meet with as many as you can.

Thank you Jim! I have shifted focus though to multifamily commercial (apartment buildings primarily 10+ units, eventually hitting 50+ units, and then long term goal of buildings with 100+ units). Do the same suggestions still apply or are there other better ways to get deals on large multifamly deals (apartment buildings)?

For larger units, I would start meeting with some commercial brokers in town and tell them what you want. These larger multi-unit apartment buildings go fast. 

Originally posted by @Jim Pellerin :
Originally posted by @Ben Feder:
Originally posted by @Jim Pellerin:
  1. @Ben Feder You are right. Deals that are listed are usually not as good as deals that come to you. Here are some ideas:
  1. Setup a website (recommend carrot sites)
  2. Set up a Facebook page.
  3. Post ads on online classified sites
  4. Start running Facebook Ads looking for your properties
  5. Search FSBO sites that you mentioned. You might find something.
  6. Attend local Real Estate Investment Group. Tell everyone what you are looking for.
  7. Contact property management companies. Meet with as many as you can.
  8. Contact several realtors. Meet with as many as you can.

Thank you Jim! I have shifted focus though to multifamily commercial (apartment buildings primarily 10+ units, eventually hitting 50+ units, and then long term goal of buildings with 100+ units). Do the same suggestions still apply or are there other better ways to get deals on large multifamly deals (apartment buildings)?

For larger units, I would start meeting with some commercial brokers in town and tell them what you want. These larger multi-unit apartment buildings go fast. 

By "go fast" do you mean time on market? If so, will there always be apartment buildings on the market or does that mean these deals are hard to find?

Also, are there any websites for commercial apartments or  is commercial brokers the only way to go? Obviously I am guessing the deals that come to me are still the better deals, but just curious as to all possibilities on how to find good deals.

Originally posted by @Ben Feder :
Originally posted by @Jim Pellerin:
Originally posted by @Ben Feder:
Originally posted by @Jim Pellerin:
  1. @Ben Feder You are right. Deals that are listed are usually not as good as deals that come to you. Here are some ideas:
  1. Setup a website (recommend carrot sites)
  2. Set up a Facebook page.
  3. Post ads on online classified sites
  4. Start running Facebook Ads looking for your properties
  5. Search FSBO sites that you mentioned. You might find something.
  6. Attend local Real Estate Investment Group. Tell everyone what you are looking for.
  7. Contact property management companies. Meet with as many as you can.
  8. Contact several realtors. Meet with as many as you can.

Thank you Jim! I have shifted focus though to multifamily commercial (apartment buildings primarily 10+ units, eventually hitting 50+ units, and then long term goal of buildings with 100+ units). Do the same suggestions still apply or are there other better ways to get deals on large multifamly deals (apartment buildings)?

For larger units, I would start meeting with some commercial brokers in town and tell them what you want. These larger multi-unit apartment buildings go fast. 

By "go fast" do you mean time on market? If so, will there always be apartment buildings on the market or does that mean these deals are hard to find?

Also, are there any websites for commercial apartments or  is commercial brokers the only way to go? Obviously I am guessing the deals that come to me are still the better deals, but just curious as to all possibilities on how to find good deals.

Start talking to a lot of the commercial brokers in your area. Most multi-unit deals get done off-market and never get posted.

Check out

https://www.loopnet.com/

https://www.crexi.com/

https://totalcommercial.com/

This article might also help

https://www.reonomy.com/blog/post/guide-to-the-best-commercial-real-estate-listings-platforms


Calling up “ for rent” apartment ads searching for tired landlords . Ask them if they’d like to sell . You’ll kinda know the motivation just by the ad they run . It’ll be poorly worded with few pictures on Craigslist or some other outdated free site and the rental amount will be lower than market value 

Setting up a website is correct.

I don't agree with all the REI meetings and all that other stuff. Not needed.

And I know everyone has a voice and opinion on here.

Just to give you some indication of my expertise on the subject...

This is in the dead season.

In the summer season.. it goes nuts!

So here is my formula for utter crushing your market and competition.

You only need to care about 2 things.

Driving motivated traffic to your site, and converting that motivated traffic into  leads.

In fact this is the PERFECT time to tackle this. Do this now and if you apply the right strategies, you will have a #1 ranking website just in time for spring.

Get a website, and absolutely go for Carrot.

Then focus on SEO and your credibility.

Don't just wing this. Think about it and apply the right strategies. Do not pay anyone for this. NO ONE will do this better than you doing it for your own website. So don't think I am trying to sell you any services.

It is important you DO NOT DO SEO like everyone else is doing it. They are wrong. EVERYONE IS WRONG!!

Proof? How many people get my results? Rest my case.

We do not try to kiss Google ***.

We develop our on SEO strategies to legitimately satisfy our traffic. NOT google.

The result is we get our forms filled:

and in return because Google notices that our traffic loves us, we are placed #1 on Google.

And when I say our traffic loves us...

They LOVE us.

So if you want our results, I highly recommend you don't waste time on things that really don't matter. Keep in mind. The ONLY thing you want are leads. Not just a few leads, you want to have more leads you can possibly handle so you can cherry pick them and get the best deals out there.

To give you an idea how important credibility is:

Lead came in (SEO obviously).

ARV=$170K+

Cost of repairs : $50K

We offered: $11K

Neighbor offered: $40K

They picked us. They had to come up with $70K in cash to satisfy mortgage in place. Watch video.

When I tell people that credibility is everything, they don't have a clue until they see proof!

Well here is proof!

So if you want to succeed. Its all SYSTEMS!!

Originally posted by @Dennis M. :

Calling up “ for rent” apartment ads searching for tired landlords . Ask them if they’d like to sell . You’ll kinda know the motivation just by the ad they run . It’ll be poorly worded with few pictures on Craigslist or some other outdated free site and the rental amount will be lower than market value 


What are the signs to tell the owner would be willing to sell? What if they have a management company in place?