Investor · Marion, IA · Member since 2010 · 177 posts · 117 votes
Where do you see apartment buildings for sale these days? Broker connection, MLS, network of owners? It's so hard to find anything for sale in my area so I'm curious how others are getting leads.
Fort Worth, TX · Member since 2012 · 72 posts · 29 votes
10y
@Mike D. have you tried looking at Loopnet.com? That is basically the MLS for commercial properties. There is another similar website, but can't think of the name right now.
Seneca, SC · Member since 2016 · 85 posts · 23 votes
10y
I have heard that as well. However, I just recently found a multi family for sale through Redfin.com, which is like a better version of zillow. I am actually working on getting that under wraps, but just trying to find a partner.
Fort Worth, TX · Member since 2012 · 72 posts · 29 votes
10y
@Mike D. have you tried looking at Loopnet.com? That is basically the MLS for commercial properties. There is another similar website, but can't think of the name right now.
Seneca, SC · Member since 2016 · 85 posts · 23 votes
10y
@Ross Schneider is right. I forgot about loopnet...good site as well. Also, maybe reach out to a few investor friendly realtors and ask if they have any multi-family in their inventory...
Investor · New York City, NY · Member since 2015 · 808 posts · 417 votes
10y
@Ross Schneider and @Michael Nocella , I don't know a lot of people say Loopnet is where good deals go to die. don't know many who have success with their listed properties not in this market anyway.
Investor · New York City, NY · Member since 2015 · 808 posts · 417 votes
10y
@Mike D. would say find brokers who knows you and think you can close and that is typically the best way, that and finding motivated sellers through various means (out of state owners, networking, lawyers, bankers etc.)
Specialist · Plainville, CT · Member since 2015 · 478 posts · 389 votes
10y
@Mike D.- Building relationships with brokers is a great way to start finding apartment buildings. Calling property management companies can also work.
Start with Loopnet. Reach out to the brokers on there but not necessarily because you want to buy the deal that is listed, but more so to get to know the person.
Think big picture.
Have them send you a deal. Analyze it. Then give them feedback.
If it's a deal- awesome. If not, you have just done what nobody does (follow-up) and the broker will respect you for that and you will have separated yourself from all the other investors who drop the ball and don't follow-up.
This sets the stage for your ultimate goal= "The Pocket Listing"