Multi Family Marketing
Hi All,
I've posted some on SFR and my partner and I are jumping into Multi-Family properties. I am in the process of selecting an area that has good job growth and strong economy, which is a criteria for my repositioning strategy.
My goal is to finance 100% of the deal through lending institutions and seller. I have about $50,000 in working capital (which is the reason for 100% financing as this capital will be set aside for any deferred maintenance repairs cap ex etc.) and another $5,000 I have allocated to marketing.
I have attempted marketing before but had a response rate of about 4% but yielding no SFH deals. I am in the military so I don't always have access to be able to answer my phone on marketing.
How do people go about finding an area to invest? I have a specific set of criteria I am looking for but with all the cities and suburbs, having a hard time identifying where to look.
How have you all been marketing for your deals? I am moving from SFH to MF like I said and I am assuming the good deals are normally off market especially looking for 100% financing. How do you guys market and network for deals from afar? Do you have any suggestions with my lack of availability to be on and answer the phone?
Look forward to hearing from everyone and hope we can all learn something sharing our knowledge.
Doug