Property Manager · Mobile and Baldwin County, AL · Member since 2019 · 6 posts · 1 vote
I'm looking to move into the apartment and or rv space. Curious to hear how y'all are marketing to and reaching owners the director-to-seller route...Thanks!
When I was actively buying and building my best leads came from my barber. Also find an REI or LL Association and network with members, surprising what comes up when you least expect it.
I think you have a real opportunity in the next 12 months to make some great relationships with brokers. Business has slowed down, and they are hungry looking for buyers and sellers.
I know your post was about direct to seller, but in the multifamily space, if you're looking to purchase bigger deals, anything 100+ units, it's more challenging direct to seller.
I would start with sites like Crexi to aggregate data in a specific market, and target what you're trying to buy. # units, time left on debt, how many years held, whatever you're focusing on.
We've also had some success using wholesalers to bring us deals. One of our members brought us a deal last year.
Looking forward to reading everyone else's response.
I think you have a real opportunity in the next 12 months to make some great relationships with brokers. Business has slowed down, and they are hungry looking for buyers and sellers.
I know your post was about direct to seller, but in the multifamily space, if you're looking to purchase bigger deals, anything 100+ units, it's more challenging direct to seller.
I would start with sites like Crexi to aggregate data in a specific market, and target what you're trying to buy. # units, time left on debt, how many years held, whatever you're focusing on.
We've also had some success using wholesalers to bring us deals. One of our members brought us a deal last year.
Looking forward to reading everyone else's response.
Good luck
Gino
Gino, thank you so much for the feedback. I'm actually apart of a mastermind that expresses relationships with brokers. I'm a residential realtor and don't really have any relationships with any commercial realtors in that space. From what Ii understand brokers pass deals along to past client they know can close a deal and when it hits the market its almost like a graveyard...I think for myself I'd be better off closing a deal with a mom-n-pop type owner and hopefully seller-finance an older property with some value-add to force appreciation.
I appreciate your response, do you have any feedback on this?
You have an advantage. You already are a broker, have something in common. Building a relationship with a good broker is key to getting on their list.
There are deals popping back up in graveyard sites, such as Crexi and Loopnet. And We starting calling ourselves the mom and pop kings over 10 years ago. Every single seller we've bought from has some type of mom and pop characteristics.
From personal experience, I can tell you that masterminds are fantastic for networking. However, if you're aiming to scale your portfolio or dive into your first deal, it's crucial to understand the business fundamentals and cultivate the necessary relationships. We have many members who are first-time buyers successfully doing deals with brokers—it's quite common.
Start looking for deals that are marketed by brokers, and set up tours. That's the first step to building a relationship.