Updated almost 7 years ago on . Most recent reply
How do you find off-market deals?
I'm really interested in the steps people go through to find off-market multifamily deals. If you were starting off in a brand new market completely from scratch, with no relationships with brokers and no knowledge of the market whatsoever, what would you do to find an off-market deal?
My assumptions are:
1. Capital is not a constraint - you have some money saved up and a rich uncle who can invest as an LP.
2. You don't have CoStar or any software that would allow you to search properties or look up owner info.
What would be your approach, step-by-step? Any insight would be a huge help!
Most Popular Reply
Depends on what you're looking for. Although take my words with a grain of salt as I'm just starting out. As for me i'm looking for smaller deals to get my feet wet. Driving for dollars is every wholesalers start I think. Getting boots on the ground and finding the houses that are vacant. Then locating the owner through skip tracing services and cold calling them to see if they want to sell. Also going to the county recorders office and finding homes that are pre-foreclosure, which is free. Probates can usually be found through local obituaries.