Real Estate Broker · San Francisco, CA · Member since 2022 · 24 posts · 14 votes
Hi Community, where have you been successful in locating off-market CRE props for sale? The market seems tight and the on-market selection is doesn't meet investment model. I invite input, thanks.
Developer · Member since 2020 · 4k+ posts · 4k+ votes
3y
With that info
Recommend you make your deals.
1. Use google search for apartments. Then look at google earth to look at them. Make a list. 2. Use tax GIS map and info to find owners and size square footage. Down at the bottom will be other PIDs they own. Check those out. 3. Develop a solution package. Don’t just say you want to buy. Be open to supporting 1031, owner financing, multi year phased purchase, retaining them for a year, putting down deposits for options to buy, whatever else helps them. 4. Only talk with the owners. Talk with them every 6 months. Ask them about properties. No letters, no emails, no robo calls. Personal contact. 5. Make them actual offers. Subject to due diligence. Do your home work.
Make your deals. Life will happen for these owners.
What type of properties and what is your financial targets?
What type of properties are you currently in?
Thanks for the reply. Parameters include: large multi-family (50+) in the Columbus, Ohio area, 50k/unit or under, unconcerned about current cap rate, redevelopment yes but not looking for joint ventures.
Developer · Member since 2020 · 4k+ posts · 4k+ votes
3y
With that info
Recommend you make your deals.
1. Use google search for apartments. Then look at google earth to look at them. Make a list. 2. Use tax GIS map and info to find owners and size square footage. Down at the bottom will be other PIDs they own. Check those out. 3. Develop a solution package. Don’t just say you want to buy. Be open to supporting 1031, owner financing, multi year phased purchase, retaining them for a year, putting down deposits for options to buy, whatever else helps them. 4. Only talk with the owners. Talk with them every 6 months. Ask them about properties. No letters, no emails, no robo calls. Personal contact. 5. Make them actual offers. Subject to due diligence. Do your home work.
Make your deals. Life will happen for these owners.
1. Use google search for apartments. Then look at google earth to look at them. Make a list. 2. Use tax GIS map and info to find owners and size square footage. Down at the bottom will be other PIDs they own. Check those out. 3. Develop a solution package. Don’t just say you want to buy. Be open to supporting 1031, owner financing, multi year phased purchase, retaining them for a year, putting down deposits for options to buy, whatever else helps them. 4. Only talk with the owners. Talk with them every 6 months. Ask them about properties. No letters, no emails, no robo calls. Personal contact. 5. Make them actual offers. Subject to due diligence. Do your home work.
Make your deals. Life will happen for these owners.
Developer · Member since 2020 · 4k+ posts · 4k+ votes
3y
Use the BO lookup. There was a person about two months ago who can generate GIS lists. Ask him for a paid list. Set your parameters. Town, zip code or not, appraised value. Square footage, etc. owner name and address, last sales date, etc. Other PIDS.
Start calling and having conversations with owners. See if they're interested in selling or would entertain an offer if one came in (almost all will at least look at one). Ask about their properties/expectations/what they're seeing in the market; it could be that your/your client's expectations are just unrealistic in that market.