I'm currently an investor in Rio Rancho and looking to buy a multifamily 6-20 units in Albuquerque. I have purchased a 4 unit and open to purchasing smaller multifamily, but looking to buy my first commercial multifamily. Looking to connect with investors and brokers. I looked in the network section but didn't see many brokers listed in the area. Tried looking for posts, but couldn't find any recent posts for Albuquerque.
I understand it is very much a seller's market right now. How is the job market? Was it affected by covid?
@Anwar Mai - this is my home state. I am very interested in Albuquerque as well so let me know how it goes. Good luck to you!
Ways to find multifamily brokers is to look at loopnet and crexi websites for those markets to obtain the broker contact info.
Subscribe to some of the brokerage firms lists such as Marcus & Millichap, Newmark Knight, Colliers, CBRE, and others.
Mortgage brokers and local bankers also know a lot of brokers as well they can refer to some.
@Anwar Mai - An important note when you start connecting with commercial brokers...
They like to work with clients they've sold properties to. The fact that they KNOW their client is active, provides incentive to bring new deals to them. They are more likely to bring a deal to a client they think might buy it vs a new client like yourself. The easiest way to get over that hurdle is to buy a property through them. The 2nd easiest way is to be able to let them know about the commercial properties in your portfolio. Then they know you're not just a tire kicker. The 3rd option is to consistently stay in touch with them. Be consistently on their radar and on their mind when a new property crosses their desk. Do this by regularly checking in and responding to EVERY deal they send your way. It's ok if you're not interested, just be sure to let them know why it doesn't fit your criteria. This does 2 things. 1) Let's them know you're serious and actually looking at the deals they send you. 2) Allows you to contact them again!
Hey Jens, I’m looking in the ABQ market for multis 10+ units and would love to connect.