Tips for sourcing commercial multifamily deals

3 Replies

Have you ever thought about going off market @Matt Tallent ? Especially for that size unit count.

Pull a list from listsource filtered with your exact criteria. Send those mailers out and be consistent doing it. Hit that list at least 10 times. You can also skip trace the list to find the owners numbers. But first you will need to scrub the LLCs to find the owners then skip trace for the numbers.

From there you can send SMS and RVMs out. Good luck on your journey

@Matt Tallent  

Some of the the best ways to find off market commercial and multifamily properties is to compile lists from city and county websites if available or through a paid service like List source, Reonomy and CoStar or you can use free resources like Loopnet, CREXI, Craigslist, tax database, general networking, brokers, property managers, title companies, environmental consultants, building inspection companies, appraisers, landscapers and other companies that service commercial and multifamily properties and driving for dollars.

The real key is in how you approach the owners and then the follow up.

You can send letters and email but cold calling is by far the most effective method but you really need to know what you’re doing, how to open the conversation, what questions to ask and more importantly when to listen and not talk. Most importantly you need to convey confidence and assurance you are a player and not just wasting their time. Remember you are building relationships with the owners.

Follow up is crucial and where 90% of investors and sales people fall short. You have to consistently follow up in a meaningful way and you will get deals.

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