Multi Family Marketing

[Douglas Vogel]

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

[Anthony Dooley]

I am active locally and I do very little marketing to specific owners of property.  I stared investing while in the Army a few years before retirement.  It made retirement very easy. 

There are ways to do it the way you describe. Hire a Virtual Assistant. You can train them to do the marketing and take the calls. They can screen out the time wasters and oy connect you to motivated sellers, which is only about 5% of the market. This will still be a challenge while on active duty. 

I recommend listening to Epic Real Estate Investing podcast. Matt Theriault has mastered virtual assistant and automation.