Many books and people on this forum talk about direct mail campaigns to potential sellers. Currently, I've been driving throughout the town and city looking for apartment buildings seemingly in some disarray, jot down the address, then go on the website for the county and look up the records to find the name of the owner, or, if an LLC, google the LLC to find the owners, and see if I can find an address that way. This is incredibly onerous. Are there other methods people are using that are more effective?
I remember seeing a forum post about obtaining lists...who do I talk to to pay for lists of multifamily properties to directly mail them? Is it the township, and if so, which department usually can help with that? Title companies?
I can see how Driving for Dollars would be worth it if a deal lands, but for someone interested in finding deals out of state, this approach doesn't seem to work as well (unless people are driving on googlemaps to find potential deals? But even those photos are a couple years old).
@Barry Je so what you describe as 'incredibly onerous' many people have found to be 'very profitable' so not sure what to tell you. You are either wiling to do the work or to pay someone else to do it. I will say I have used Listsource and I think it is pretty effective.
Do you have access to CoStar?? You can get GREAT list and contact info.
I just checked the review on Listsourse, and by reading those, I personally would not use them due to both very "helpfool" customer service and obsolete contact list.
@Jeff Kehl congrats on your success and wish you many more. I have been playing around with listsource but it’s a very open site. A lot of information presented and with your experience would know that every dollar counts so you want to make sure your pulling from the site exactly what your looking for. I ask if you’ll be willing to teach me your methods on how it’s worked for you?
Thank you in advance for reading.
@Emmanuel Lopez it depends what you're looking for. They offer a ton of data so you have to first figure out what you're looking for.
For instance, my goal might be to to buy small multi-family at a discount from the market. So I would limit to multi-family properties built 20+ years ago and a few other variables.
On the other hand if I'm looking for flip houses I want singe family houses of a specific type in very specific areas.
@jef Thank you for that. Now when looking for instance on the multi families do you also filter your searches by houses with EQUITY.
Also after you get the list what type of direct mail do you use?
@Jeff Kehl undefined
Driving for dollars is great. But it's really not feasible unless you're going to fly in and drive or have someone you can trust to do it for you.
List Source is pretty solid. They tend to have a 5-10% margin of error in the accuracy of their data. I'd highly recommend running them through the NCOA database to limit the RTS and wasted marketing budget. If you need help with any of it drop me a PM. I buy a LOT of lists.
@Barry Je I have called up the property assessors office in the county or city that I am interested in and asked for a list of apartments and/or self storage in their areas. Usually when you call the assessors office they will transfer you to the IT department to obtain the list. I have gotten over 10 lists from different cities/counties. And for most all commercial property the owner on record will be a LLC, or Inc. So to get the people in that LLC go to the secretory of State website and search for "Business Search" where you then would type in the LLC name and out pops people associated with that LLC. Now, it sounds easy but you may only get one "real person" name, but it is more than you had before. You want to also use the address that the tax bill is sent to, because that address is always correct. Here is GA's SoS URL: https://ecorp.sos.ga.gov/BusinessSearch Hope that helps. Good luck
I've had success with the county. With properties held in LLCs and other types of entities, you'll still have to do some digging or hire someone to do it for you. Plenty of good help out there if you know where to look for them - good luck!
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