I am a fairly new investor with interest on scaling my rental portfolio. I currently have 3 single family homes in Louisiana that are good cash flowing properties. I like single family and will continue to buy as good deals come along, but I am interested in scaling a lot faster. I am looking for a multifamily property ranging from 250,000 to 1.5 million. I would like to stay in Louisiana, but would be open to other opportunities if needed. I am trying to find a property for a long term hold investment. I read through a lot of properties on the MLS and FSBO websites and am still not having a lot of luck. Any advice on other websites, or what my next step should be would be greatly appreciated!
@Amy Verges is a sharp cookie. And, she's correct. I've been looking for multifamily 'at a discount' for 2 years. https://www.lacdb.com/ is a good resource. Also, Google David Vercher KW & Elifin Real Estate. Those are my Go To guys for Baton Rouge & surrounding commercial property.
Hi @Jameson Cole Finn , what part of Louisiana are you interested in? I'm here in Baton Rouge and it's multi-fam is pretty competitive right now. It's possible to find deals on the MLS, but the good ones in good locations are usually swooped up within a couple days. I have my realtor license and have bought two small multi-fam off the MLS, but my last deal was through a wholesaler. I'd be happy to have a phone convo with you to learn more about what you're looking for so I can keep an eye out for you. If I find a deal when I'm not ready to buy, I usually try to pass it on to other buyers I know. Send me a message if you'd like to talk and I'll send you my cell #.
@Amy Verges is a sharp cookie. And, she's correct. I've been looking for multifamily 'at a discount' for 2 years. https://www.lacdb.com/ is a good resource. Also, Google David Vercher KW & Elifin Real Estate. Those are my Go To guys for Baton Rouge & surrounding commercial property.
@Tami DuBose Thank you for the suggestions and information. I will check them all out. Please keep me in mind if you see something you are not interested in.
Hi @Jameson Cole Finn , what part of Louisiana are you interested in? I'm here in Baton Rouge and it's multi-fam is pretty competitive right now. It's possible to find deals on the MLS, but the good ones in good locations are usually swooped up within a couple days. I have my realtor license and have bought two small multi-fam off the MLS, but my last deal was through a wholesaler. I'd be happy to have a phone convo with you to learn more about what you're looking for so I can keep an eye out for you. If I find a deal when I'm not ready to buy, I usually try to pass it on to other buyers I know. Send me a message if you'd like to talk and I'll send you my cell #.
HI Amy do you send out emails with these deals I'd like to see them as well. I come down to Louisiana twice a year here to visit for sometimes 2 to 3 weeks at a time. I'm from Northern VA I have a few properties there they appreciate nicely but the income isn't great if you factor in the value vs take home monthly. I did some quick math on zillow and looks like the cap rates are much better here for residential around Prairieville where I was looking near route 10.
Hey @Phil W. , I typically send out deals to current clients first, and honestly they're still pretty scarce in the multi-family market. If you're looking for help head hunting deals, I would recommend building a relationship with a few local wholesalers. And really the best person to find you a deal is you, so be aggressive and proactive--there are still deals out there to be had! Best of luck.
Hey @Phil W. , I typically send out deals to current clients first, and honestly they're still pretty scarce in the multi-family market. If you're looking for help head hunting deals, I would recommend building a relationship with a few local wholesalers. And really the best person to find you a deal is you, so be aggressive and proactive--there are still deals out there to be had! Best of luck.
Thanks for replying. Can you possibly send me what your fees are for property management? I usually just direct by at market rates residential attached or single family I'm not really looking for anything run down. I self manage in VA but if I do end up buying around here I need a property management company and just hold long term.