CoStar is not very effective in the MFU space.
I recently started using Reonomy for my data and contact info for MFU.
I am not 100% on how accurate this service is as of yet, but it seems to be much better than CoStar in this niche.
I have been cold calling MFU owners for 3 years now and Reonomy seems to be the most promising option I have found thus far.
@Howie Baker one of the main reasons that people have LLCs on rentals is so that they don't get cold calls or people showing up at their residence, they are also probably less likely to sell than mom and pop owners.
@Howie Baker I use a service called Reonomy it is paid service but more often then not it has the owners contact details. And some other good information like last sale, debt level maturity date etc.
@Howie Baker , I have been very successful at (so far) by calling property management companies and asking if any owners of MFUs are thinking about selling. I am working a small market. I now have two people with multiple properties who are will to talk to me about my buying their properties. I spoke to them last week for the first time and I am working on getting the second phone call and building the relationship. I feel confident that some deals will come out of this. I am also going to check the tax records of the county in which I am working. I am reading Multi-Family Millions by David Lindhal (A BP podcast guest) and he suggests a direct mail campaign so I am going to start that. I am using the county tax records to save money. I have not heard of Reonomy but thanks to this discussion, I will check out that service. I hope this helps,
I have used Reonomy and CoStar. I personally found that Reonomy was much more accurate on the ownership information side. I believe Reonomy collects and aggregates data differently than CoStar. Reonomy is also cheaper than CoStar, but keep in mind they limit the number of properties you can pull per month.
@Howie Baker - if you are combing a relatively small market space, just make a list of the LLC's, then hop on the Sec of State website and look up the owners. It can take a little finesse, as some people have CPA's or Lawyers as the designated agent, but tax bills, etc, etc, can be little gold nuggets, and most people aren't as smart as they think about hiding themselves with LLC paperwork/corporations.
Once you have the names, a simple skip tracing service such as Enformion or TloXP will get you numbers pretty fast. Plenty of folks out there who specialize in what you are talking about, putting names and numbers on lists of property.
Then the fun part begins.....banging the phones. Smile & Dial!
I've seen the power of Reonomy through a my good friend @Hadar Orkibi . My partner and I will be investing in that platform in the future. Thank you again Hardar!