How to find Multi-Family (8+ units) Off Market?

[Oren Elbaz]

Hi all!

I'm a newbie investor from Montreal, Canada looking to buy my first deal. I have almost 4 years experience in the business as a leasing agent and property manager, however, I would love to make the jump to investing. I'm looking to invest in larger multi-family buildings as I am very aligned with the "Grant Cardone vision" which is in short, the bigger you go, the less risk and higher the reward. I have a few potential investors lined up so money shouldn't be the issue, I just want to present them with a good opportunity.

The market is quite hot here and there are very few deals on centris/realtor.com/zillow etc. in the towns that I'm looking to invest in. Does anyone have tips on how to find off-market deals for multi-family buildings of this size? Any advice would be greatly appreciated!

Thanks in advance,

Oren

[Braden C.]

@Oren Elbaz If you want to really dive deep for deals, search the property appraiser in whatever area you're looking in and try and pull up all multi family properties. Then you can look for "mom and pop" owners. When I do it, I am looking for ownership in their name, not an LLC or corp. Then I look at length of ownership, hoping to find the "tired" landlords. I'll also look for motivation triggers like unpaid taxes, code violations, lots of recent evictions, etc., these are all usually found on the clerk of court website for the county you're looking in. When I find one that meets what I feel is a likely motivated seller, I pursue it hard until I get an absolute no. I can still market to all the other owners, but I put a lot more time into the ones I feel will most likely sell. Good luck!