How to find good deals on apt complexes

[Jacob Prelle]

My wife and I are looking through the internet (Redfin, Loopnet, etc) for apartment buildings that are cash flowing and are having a hard time finding any. I heard through a BP podcast and from other investors that Loopnet and other similar sites are the "bottom of the barrel" when it comes to RE finds. 

Does anyone have any advice on how to go about getting notified of good deals or have had any experience another away?

Thank you!

[Dave Van Horn]

@Jacob Prelle

You could also try marketing to apartment owners that could be motivated to sell (i.e. people that have owned the property for 30+ years, owners who have inherited the property, etc). You can find much of this info through public records. But keep in mind, It's still going to be a search.

Some commercial banks that do the loans on apartments may also be a good source for sellers. Same goes for commercial real estate attorneys, some REITs or 1031 intermediarys. So it could be worth connecting with them as well.

If all else fails, you may want to consider investing in an apartment fund. Might not be as much of the return or ownership you're looking for, but you could still cash-flow and get the tax advantages with a lot less work.