Lead Gen for Large MultiFamily Deals

2 Replies

Hi all and thanks in advance.

My brother and I are preparing to begin buying and syndicating large (20-100+) unit deals. We're trying to figure out ways to expand our deal leads. As of now, we have a couple of realtors in the area that show us their MLS feeds and Loopnet. We are looking to connect with more wholesalers as well. As the person tasked with lead generation, are there any other lead sources or out of the box ideas we aren't thinking of to generate more leads?

FYI: We are looking in the Eastern Oklahoma markets i.e, Tulsa, Tahlequah, Pawnee etc. 

Juwan - One item I've found helpful is to utilize loopnet and/or crexi to identify properties that are being sold in the markets you're targeting. While you're looking into those properties you'll naturally see the broker/agency that is selling each property. I would then call each broker and introduce yourself and let them know what types of properties you are targeting. Brokers are key in multi-family investing and you can quickly build a list of broker contacts by utilizing information on loopnet/crexi. Good Luck!

Hey @Juwan Parker

There are two ways you can find multifamily deals. One way is to build relationships with brokers. You can try cold calling them, and give them your investment criteria. They may not trust you at first, but if you call them consistently, and give them feedback on any deal they send you, they'll warm up to you overtime. Make sure to let them know why a deal doesn't work for you, if it doesn't. If you get the chance, tour a property with a broker. Meeting them in person is a great way to build rapport with them. 

A great book about broker relations is "Multifamily Investors Who Dominate" by Beau Beery. 

Another way to find deals is to network with other multifamily investors and co-sponsor on their deals. You can meet investors at multifamily conferences, like the Fire Summit with Think Multifamily. Many times, lead sponsors are willing to partner with other investors. You just have to build the network and bring them value. 

Let me know if you have any questions at all. Good luck!