I would like to find/connect/network with good multi – family (apartment building) broker in Maryland / Pennsylvania.I became of member of couple of RIEA meet ups and planning to join different sessions to build my network and meet brokers. Most of these meet ups seem to focus on single family investing.
I couldn’t find any meet ups specifically focused on apartment investing. Does this kind of meet up exist?
I could find local real estate agent and their review in Zillow for single family houses. But couldn’t find anything like that in loopnet. Does anybody know what is the best way to get in touch with local multi family broker?
Does anybody knows good/excellent multi – family broker in Maryland / Pennsylvania area. I understand Maryland / Pennsylvania is a big areas, but I am looking properties within 2 to 3 hours driving range of Ellicott City, MD.
Thanks in advance.
A good starting point @Mohammed A. is to jump on Loopnet.com and see which Brokers have some listings in the area. you can also read their bio and profile info.
search other commercial listing in your area and contact them too. I fined that most commercial offices have one or two brokers that specialize in MFR - As to talk to them.
Make contact with them and take it from there.
You are going to need to decide on a location first. 3 hours from Ellicott City is as far north as NYC and as far south as Richmond VA.
Mohammad, if your looking in and around Baltimore City, I’d recommend Ben Frederick. He is a fellow CCIM and specializes in apartments in that market.
One strategy I have employed is to look over LoopNet.com, particularly in the good locations in your market. Over time you will see certain brokers start to pop up over and over again. They are typically good to reach out to and start a conversation. Some brokers will post a deal on LoopNet.com from time to time to farm for new investors in the marketplace.
@Mohammed A. I believe that LinkedIn could be a powerful tool for you to connect with what you are looking for. That being said, there are three main apartment building brokers in the country, two being ARA and CBRE, so maybe you could take a look at that.
Regarding the meetups, you should be able to find a good multifamily investing meetup/club where you can connect with like-minded people that are in the same niche and have the same interests as you do, like the Miami's Multifamily Investing Club down here in Miami where I live @Lennon Lee if you don't find it in Ellicott, you'd probably find it in the nearest biggest city, like Baltimore for example.
Hope this helps!
Mohammed. This is not a short or easy process. The typical reply I hear from commercial brokers is “why would I give this deal to you when I already have clients that can close on this”. The obvious reply is that the broker only gets paid when a deal closes and you “intend to close on any good deal that fits your criteria”
This may not be what you find but it can be discouraging so keep looking and analyzing deals
Try to identify and meet with the up and coming junior analysts\associates brokers. The majority of brokers listed on LoopNet tend to be the more senior experienced brokers and have their preferred list of clients.
I believe Greysteel is based in the DC area. I know they are a big multi-family broker here in Texas, so presumably they'd do the same in their hometown.
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