Off market properties?

[Angel Pedroza]

I see that the residential side of real estate has a lot of websites (Zillow, Trulia,etc) but is there a website or app that you could see off market commercial properties or properties that will be coming to the market soon?

[John K.]

As most said on here, networking is key. You just never know when you get that email, text or phone call with a deal that puts a smile on your face.

Here are some other strategies that I use to locate properties, not just commercial.

1. Driving For Dollars - This is the tried and true way of finding ALL the off market properties.  When it comes to commercial properties, specifically apartments, I change up my procedures quite a bit. 

   a. Look for the usual markers.  Building(s) in disrepair, overgrown grass and empty parking lots. 

     I use the daylight hours to locate and the evening hours to do my detective work. 

For example:  If I know the property has 24 units, I will visit that property usually 4-5x in a week, late at night. I want an idea of how many cars are parked there, to tell me what the occupancy might currently be like. It's certainly not 100% accurate, but it will get you close, once you have established the pattern. This also alerts me to potential problems, if there is a lot of "traffic". 

2. Open Records.  If you live in a full disclosure city, request records to help you identify potential hardships. 

    a. Citations issued for routine maintenance. While may not be a hardship, it certainly could be a frustration factor. 
    b. Request electricity turn off/on requests over the past 18 months. This list can be reverse engineered to help identify the following:  High turnover, long term tenant(s) or empty units.  

   c. Request police responses over a 12 month period.  This list will speak for itself and can give you an excellent picture of the property. If the property is 90% occupied, that's great! However, if the 50% of those tenants know the police on a first name basis, probably not so great. 

3. Taxes. As mentioned above, any of these that are delinquent in taxes. 

4. Researching owners. Locate owners that are near the age of retirement. Maybe the right offer can set them free and allow them to retire. 

5. Craigslist/FB:  Don't use these in the traditional manner, dig deep into what is being shared with all these "RENT ME" ads. I would personally automate this. Develop a spreadsheet that tracks the number of ads placed on any website that promotes rentals, over a 12 month period. Then look at the numbers to tell you if there is an occupancy problem. This is a bit out there, but once you set this up, you only have to look at the data. 

6. Public Records:  Divorces, Bankruptcies, Law Suits, IRS Liens, Probate, other Judgements

I'm sure there are other ways, but I use most of these daily and produce more than enough properties, to keep me busy. 

Good Luck!

John