Finding Deals and Engaging with Developers

[Jorge Abreu]

In the beginning, my first two deals were located by getting my hands dirty and going straight to ownership. We pulled a list of owners from CoStar in the locations we wanted to be and just got started calling. After we closed those two deals, we had a track record of closing and started getting more leads coming to us.

We found success in reaching out to developers who aren't owner-operators but want to build and sell. LinkedIn has been very helpful in connecting with them. We also research and call the company to get in touch with the right person.

LinkedIn is a valuable tool for finding developers in your area. You can reach out to them directly and explore potential projects they are building. Additionally, researching and calling the company can help you get in front of the right person.

Also, find the local office for the following brokerage firms, and then get on their email list for new deals and search their existing deals:

● Marcus & Millichap

● Newmark

● NorthMarq

● PPA

● Cushman & Wakefield

● CBRE

● JLA

● GREA

● SVN

Go further to set automatic notifications for broker sites and the likes of Crexi and Loopnet.

When choosing a market, it's important to look at the city overall, but also to consider the micro-markets within it. For example, in Dallas or Houston, there are certain areas you want to avoid. Building relationships within those micro-markets is crucial to finding sweet spots for investment.

Our buy box criteria is based on experience and lessons learned from past deals. We know what we don't want anymore, and that helps us refine our criteria. Unit count plays a role, too. Once you have around 100 units, it becomes easier to manage with in-house staff and outside maintenance. Anything smaller than that requires more hands-on management.

In a nutshell, finding deals and engaging with developers requires a data-driven approach, perseverance, and building relationships. By reaching out to owners, connecting with developers, utilizing LinkedIn, exploring micro-markets, and learning from experience, you can enhance your chances of success in real estate investment.