Where to find midsize multiunits?

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Rental Property Investor · New Providence, NJ · Member since 2016 · 6 posts · 3 votes
7y

Another option is to start digging through the county assessor websites for property / owners based on the criteria that you are looking for. It's a bit of investigative work, because most likely you will find that most or all of these properties of this size will be held by an LLC or a corporation -- from there, you can proceed on trying to find names behind those companies by searching in the Secretary of State filings in the state of which that company was formed.

Once you have your list, start calling or mailing.

If you don't want to spend the time doing this on your own, there are subscription based services out there that aggregate this data for you, but of course for a price. And not all of these services are created equal, as you never know how accurate or up-to-date their databases are.

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  • Rental Property Investor · Teaneck, NJ · Member since 2016 · 567 posts · 291 votes
    7y

    @Adam Philpot those properties are in the broker’s pockets. You would need to build relationship with the brokers and when the relationship is there, they will start opening up their listing to you. 

  • Rental Property Investor · New Providence, NJ · Member since 2016 · 6 posts · 3 votes
    7y

    Another option is to start digging through the county assessor websites for property / owners based on the criteria that you are looking for. It's a bit of investigative work, because most likely you will find that most or all of these properties of this size will be held by an LLC or a corporation -- from there, you can proceed on trying to find names behind those companies by searching in the Secretary of State filings in the state of which that company was formed.

    Once you have your list, start calling or mailing.

    If you don't want to spend the time doing this on your own, there are subscription based services out there that aggregate this data for you, but of course for a price. And not all of these services are created equal, as you never know how accurate or up-to-date their databases are.

  • Nashville, TN · Member since 2017 · 92 posts · 14 votes
    7y

    @Gregory Chew thanks! Any good companyies you would recommend?

  • Rental Property Investor · New Providence, NJ · Member since 2016 · 6 posts · 3 votes
    7y
    Originally posted by @Adam Philpot:

    @Gregory Chew thanks! Any good companyies you would recommend?

    To date, we have done our own research, but we're currently evaluating Haines Criss+Cross https://www.haines.com/haines-criss-cross-directory/. These guys are very specific to select states, though, but they currently cover our target market.

    There are more national ones, like https://www.reonomy.com/ and https://www.axiometrics.com/axioapartment/ that you can look into.

  • Real Estate Agent · Luray, VA · Member since 2016 · 459 posts · 293 votes
    7y

    Costar is what the brokers use to find owner information, but it's pricey and requires an annual subscription.  ProspectNow.com is another site that people use and isn't quite as expensive if you are looking for just one particular county.  As far as other websites that brokers will list on, I would check CRExi.com as well.

  • Rental Property Investor · Johnson City TN · Member since 2016 · 386 posts · 271 votes
    7y

    @Adam Philpot - Crexi, Marcus and Millichap, NAI, I've even seen them on Realtor.com.  Broker relationships are the best route, however getting on these site and setting up automatic alerts can help get you in touch with the right people.

  • Developer · Birmingham Alabama · Member since 2019 · 20 posts · 12 votes
    7y

    @Greg Scully I have a 10unit all brick building that I’ll take $75k for a quick sale on. It’s vacant and a fulll rehab job.

  • Fayetteville, AR · Member since 2018 · 95 posts · 62 votes
    7y

    @Sejj Jackson

  • Investor · Phoenix, AZ · Member since 2017 · 261 posts · 143 votes
    7y

    @Adam Philpot

    I would say skip the websites entirely. Most of the properties you see on there are usually duds that investors that are in with the local brokers have passed on. I would recommend building a really strong relationship with a few local brokers for off market deals or at least first view of new deals.

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