Where Do You Find Multi Family Props For Sale?

Question

hey everyone,

i'm having a tough time finding multi listings. where do you find your listings at? I have MLS access which doesn't have much on there and some local commercial sites which don't have much on there either. I'm wondering if many multi family properties exchange between principals just through commercial broker networks? I've heard previously that a lot of commercial brokers don't publicly list their properties. They just go through their Rolodex and sell it that way. Any advice would help - thanks!

Palmer Wilkins · Answer

Hi Tony,

I just moved to the Orlando area and have used Loopnet as a starting point.  Seems CB Richard Ellis and, as others have said, Marcus and Millichap have quite a few of these properties for sale since I've been here.

Palmer

Jon Klaus · Answer

Marcus & Millichap seems to be the dominant MF broker in my market.

Here is an older list of MF brokers.  http://www.slideshare.net/celsenhans/top-mf-brokers-final

Account Closed · Answer

depends what you're looking for..are you looking for performing turnkey properties?  if so, mls, loopnet are a great start..call a few commerical brokers in the area and tellthemwhat you want..they'll let u know when they have it...i purchase properties that need work and have tenant problems...i get these leads from craigslist and my signs..i also call landlords when their property looks like crap to see if they want to sell..

Johnny P. · Answer

commercial properties don't get posted on the MLS.  If you see one there it gives you very valuable information -

You can be sure that you are working with a residential agent that happend to stumble across a commercial deal.  This most likely means the the underwriting and values are off as well.

Dennis Tierney · Answer

Tony:
  I have purchased four apartments and all were brought to me by commercial brokers as "pocket listings". Get a relationship with several commercial brokers in your area and you'll have plenty to look at.

Mark Updegraff · Answer

MLS mainly, though I just subscribed to Loopnet with the tools.  Sweet :D

J Day · Answer

Anyone have info for Houston area?

Darryl Dahlen · Answer

Tony- I'll email you a link to a commercial brokerage in Florida that usually has a good selection of the types of deals you're looking for.

Tony Nguyen · Answer

thanks for your reply guys.

Hey Bryan - i would prefer your route; buying properties that need work, under performing, etc. with Craigslist, are you calling on For Rent by owner ads or posting ads of your own. What are you presenting on there? In addition, when a property looks like crap, how do you get their #? i usually mail but obviously, not high responses! thanks Bryan.

James Martin · Answer

Loopnet.com

Where Do You Find Multi Family Props For Sale?

Most Popular Reply