Where to find commercial real estate deals? (Apartments)

11 Replies

Hello guys, this is my first forum post on Biggerpockets!

It's nice to meet everyone. 

My question is: where do I find apartment deals? I've looked on Loopnet for my state of Missouri, and I haven't really found all that much. 

Bonus question: how do you find out the expenses of a property? I'd like to start practicing analyzing deals, but I'm not sure where to begin. 

Thank you all for your time! 

If you have experience with investing in apartment buildings, I'd love to connect with you! 

-Chris

@Christopher Scott Hello Christopher. Market research is where you start. How do you find deals? Start going to tour local REIA meetings and networking. Direct mail and cold calling. Getting educated is what you need to focus on. Analyzing deals will come with time. What books have you read? Podcasts listen to?Brokers will send out an OM on the property with that information. There is a lot of feee information out there you can get your hands on that will walk you through all your questions.

https://joefairless.com/apartment-syndication-school/

Originally posted by @Christopher Hunter :

@Christopher Scott Hello Christopher. Market research is where you start. How do you find deals? Start going to tour local REIA meetings and networking. Direct mail and cold calling. Getting educated is what you need to focus on. Analyzing deals will come with time. What books have you read? Podcasts listen to?Brokers will send out an OM on the property with that information. There is a lot of feee information out there you can get your hands on that will walk you through all your questions.

https://joefairless.com/apartment-syndication-school/

 Thank you! I have read: "Commercial real estate investing for dummies" and I have watched a ton of YouTube videos on it by a channel named: "Commercial Property Advisors". Thank you for the link as well, and the speedy reply! Which podcasts and books would you recommend?

Sounds like you need to do more research. USUALLY  Loopnet is where all the deals go that nobody wants. Start by reading @Michael Blank Financial Freedom with Real Estate. Amazing book. 

A couple of other good books on apartment investing are Joe Fairless's "Best Ever Apartment  Syndication Book" & Dave Lindahl's "Multi-Family Millions". 

You can also find deals on the largest brokers websites: CBRE, Marcus and Millicap, Berkadia, etc.

Finding deals: a great strategy is to create a list of brokers on loopnet (based on the types of deals they list) and send an introductory email to all of them. Then, every two weeks, follow-up with them via email, providing them with a new piece of information that proves your ability to close + ask if they have any new deals. Do this consistently and you'll increase your lead pipeline

Finding expenses: combination of the historical and your property management company who is extremely familiar with the market.