Having trouble finding multi-family housing online?

Question

Hello guys,

So I'm a new to real estate investing, and I wanted my first property to be a multi-family property (Duplex ranging to Quadruplex) in my area. I want to ease my way in and I've heard this is one of the best ways to do it. So I'm interested.

I'm still in the research phase of getting to know the prices in my area, and whenever I search for "multi-family" properties or "duplex", I always get results that are only selling one apartment out of a multi-family, but the result has it listed as a multi-family... So I can't really find any results of the whole property, what am I doing wrong?

Does anybody have any advice on how I can find useful pricing around my area on multi-families?

Thank you!

Parker Fairfield · Answer

@Vincent Pennypacker

Go into Loopnet and look -- you'll find TONS

How to use Loopnet.com BUT NOT pay for their service.

Loopnet has great information, but for the parttime investor, like me, I have found a GOOGLE WORK AROUND that allows me to use their site for free.

When I become rich multimillionaire, I'll subscribe to their astronomical monthly rate... until them, I don't feel bad helping you USE Loopnet for free

1) Goto Loopnet.com and do your search (I prefer the ADVANCED SEARCH)
2) Once you've got the results of your search, identify the property you want to "see" - (Loopnet lets you see a handful for free, then denies you and expects you to pay.)
3) COPY PASTE the street address, city, state of the property. DO NOT CLICK ON THE LINK .... JUST COPY PASTE THE street address, city, state
4) Goto GOOGLE and type in the
4A) "site:Loopnet.com" into the search engine, you will not delete this when doing this LOOPNET work around.
4B) paste in the street address, city, state that you copied.
5) Google it, for example, it'll look like this "site:loopnet.com 46 Main Street, Conway, NH"
6) in Google's search results, click on the link that takes you BACK to Loopnet ....

By doing this, you can review as MANY Loopnet properties as you want - FOR FREE!

David Moore · Answer

@Vincent Pennypacker

Ask around to find an investor friendly real estate agent.  Tell them you are looking to get into buying multi-family properties.  They can then give you limited MLS access which focuses only on multi-family properties for sale in your target area.  Your local REIA is a good place to start.  But don't be too concerned about waiting.  Any realtor should be able to give you this access, since it involved limited work for them.

I would advise not signing exclusive representation contracts with any realtor, however.  When the time comes, and they want to write contracts, go with a non-inclusive buyers rep contract.  They have them, and they are willing to use them.  This way you are not tied to one realtor, who may or may not do good work for you.

Vincent Pennypacker · Answer

That is awesome man, I love you. Don't tell too many people though! Otherwise you'll see it get fixed soon!

Brandon L. · Answer

@Vincent Pennypacker if you are searching for these properties in the DC/MD/Nova area they are virtually non-existent.

Having trouble finding multi-family housing online?

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