I'm a NYC investor currently searching for another property. I'm trying to find deals but the MLS is pretty dry right now. How can I find off-market deals specifically in New York city?
Real Estate Agent · Columbus OH · Member since 2018 · 1k+ posts · 1k+ votes
5mo
not familiar with NYC, but if you have a specific buy box, or a specific asset you go after, I'd call every broker in town that has listed a similar property and see if they have anyone else or something else that is similar. Granted I know NYC is unique and specific in how deals happen and are traded, but again if you are searching for something specific it tends to be easier to track down off market.
Real Estate Agent · Columbus OH · Member since 2018 · 1k+ posts · 1k+ votes
5mo
not familiar with NYC, but if you have a specific buy box, or a specific asset you go after, I'd call every broker in town that has listed a similar property and see if they have anyone else or something else that is similar. Granted I know NYC is unique and specific in how deals happen and are traded, but again if you are searching for something specific it tends to be easier to track down off market.
Real Estate Broker · New York, NY · Member since 2020 · 2k+ posts · 1k+ votes
5mo
Hey Edouard,
Sometimes it really is about going back to basics. Reaching out to brokers directly and leaning on your network still goes a long way in NYC.
A lot of the better deals never really make it to the MLS. They get shared quietly between brokers and buyers who are known to be serious and able to close. If you're consistently checking in, clear on what you're looking for, and can move quickly, you start getting those calls.
Connections matter here more than almost anything else. Attorneys, property managers, other investors, even lenders can all be sources of off market opportunities if you stay in touch and top of mind.
Sometimes it really is about going back to basics. Reaching out to brokers directly and leaning on your network still goes a long way in NYC.
A lot of the better deals never really make it to the MLS. They get shared quietly between brokers and buyers who are known to be serious and able to close. If you're consistently checking in, clear on what you're looking for, and can move quickly, you start getting those calls.
Connections matter here more than almost anything else. Attorneys, property managers, other investors, even lenders can all be sources of off market opportunities if you stay in touch and top of mind.
Real Estate Agent · New York City · Member since 2023 · 16 posts · 6 votes
5mo
Hi Edouard,
A great way to find an off market property is to keep an eye out for distressed looking properties, make a list of addresses, and start a mailing list. This works but it also takes time and consistency. You won't have a bunch of leads from one mailer, you'll have to do this a couple times most likely.
Call brokers, attorneys, and title companies. People who work for title companies witness a lot properties change hands and could might let you know about an off market lead.
A great way to find an off market property is to keep an eye out for distressed looking properties, make a list of addresses, and start a mailing list. This works but it also takes time and consistency. You won't have a bunch of leads from one mailer, you'll have to do this a couple times most likely.
Call brokers, attorneys, and title companies. People who work for title companies witness a lot properties change hands and could might let you know about an off market lead.