Listsource - Multifamily

12 Replies

I am trying to pull a list from Listsource for multifamily properties.  Does anyone know the best criteria to select for that list?  

One area that is giving me trouble is how does Listsource classify multifamily properties.  Property type, number of units?

Thanks for the help.

I'm a little curious myself. And my question is a bit along the same lines. 

Because when searching, it's presents a criteria for number of units. When setting the criteria, is the accuracy trustworthy, or is there a discrepancy?

@Frank Romine

 Thank for the info.  I checked them out but it looks like Texas is not included in one of the states they pull data for.  Looks like a good company.

Originally posted by @Frank Romine :

@John Hixon

 @David G

Propertyradar has much more flexibility and data.  The phone app is a good tool.

Frank

 Frank,

So property radar is based on a monthly flat fee and it grants you unlimited access to information on any and all properties located in the states they operate in?

Is TX a non-disclosure state?

Originally posted by @Frank Romine :

@David G  Yes unlimited access.  Try it out it is really a good product.

Frank

 Looks spiffy! Now I just need to find something similar I can use in Florida!

This is actually one of the trickier parts of using any of these services, our's, Listsource, others.

Two issues you need to understand when trying to tackle a new search and looking for a data source:

1. County issues - there are 3144 different counties in the US, and data varies from county to county. Services like ours do our best to standardize it, but you need to expect variations. What works for your friend 30 miles away in another county, may not work for you. Some counties simply don't have certain fields. In this example "Units" can be hit or miss. You may also find that the data is really good for building built in the last 5 or 10 years, but terrible before that. 

2. Normalization issues - each service has its own take on trying to "normalize" certain fields to a standard set across all the counties. Property type is a good example. Every county has different property types, so we build a big table and try to map each counties property types, to a set of standard property types. This works pretty good most of the time. But there can be variations.

Based on that here is what I strongly recommend for anyone who wants to be sure they are pulling the best lists:

1. Start at the county assessor and get to know the data. Go in and ask them questions around which data they collect and for how long. While services like ours have to try to figure out lots of counties and generalize across them in order to cost effectively provide service, you can become the local expert and gain an advantage over those that don't take the time to learn the details.

2. Compare what you find at the county to the best service you can find for your area. Look for differences between the county and the service. Try to reverse engineer the mapping I talked about above. Ask the service providers questions around discrepancies. They may not be able to resolve it for you, but you'll learn exactly what you can rely on and what you can't. No service is perfect, mine included. Just recently there was something I needed that the county had, but that our service didn't. It happens even to me. :-)

Best,
Sean

Sean OToole, PropertyRadar.com | http://www.propertyradar.com

I used Listsource to pull Multi-family in my area and the list they sent me was terrible.   My criteria were pretty simple...6 zip codes, 2+ unit, high equity.   Their list has several SFRs on it, lots of condos, very few duplexes, triplexes, and 4-plexes, and lots of duplication (even though I selected to remove duplicate listings).  

Just basically wasted $150.  I'm asking some assistance to find more of these types of properties...Maybe back to square one.

Medium lynnhurst holdings stacked logo white backgroundJustin Hennig, Lynnhurst Holdings LLC | [email protected] | 612‑807‑9090 | http://www.LynnhurstHoldings.com | MN Agent # 40469186

@John Hixon 

Are you looking to acquire multifamily properties here in DFW?  Instead of relying on a data provider you might consider building a network of listing agents that can feed you deals.  Another option is to build relationships with banks or mortgage brokers who have a pulse on the market to find deals.

@John Hixon

Aww I see what you mean! I went on the site trying to tinker a bit. I wonder if you can reach out to their Help Department. 

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