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Updated 4 months ago on . Most recent reply

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Andrew Philpott
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Finding True Multi-Family Units

Andrew Philpott
Posted

What is the best way to find a true Multi-Family unit on or off the market? I've been searching through redfin, zillow and other engines but get a trash load of SFR listings as well, even when using filters.

I'd like to stick to the Greater Atlanta area as I'd like to be hands on for my first few deals. 

Also, when building a team does your lender need to be in state of where the property is located?

Any guidance would be greatly appreciated!


-Drew

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Michael Smythe
#2 Legal & Legislation Contributor
  • Real Estate Agent
  • Metro Detroit
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Michael Smythe
#2 Legal & Legislation Contributor
  • Real Estate Agent
  • Metro Detroit
Replied
Quote from @Andrew Philpott:

What is the best way to find a true Multi-Family unit on or off the market? I've been searching through redfin, zillow and other engines but get a trash load of SFR listings as well, even when using filters.

I'd like to stick to the Greater Atlanta area as I'd like to be hands on for my first few deals. 

Also, when building a team does your lender need to be in state of where the property is located?

Any guidance would be greatly appreciated!


-Drew


If you're just starting out and have no network of investors, then your best bet is to find an agent that can set you up in their MLS system to automatically email you new opportunities daily or weekly.
- NOTE: the initial email will contain everything on the market that meets your search criteria. Subsequent emails will only show new listings or price changes.

The real challenge in doing the above is finding an agent that's actually "investor-friendly" and not just "commission-friendly". 
- How many rentals do they own? 
- How many references to investors can they give you that bought 2+ years ago, so you can confirm they have no regrets buying with this agent.
- How much analysis assistance can they give you?
- How will they assist you in getting a property at a below market price?

  • Michael Smythe
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Logical Property Management
4.9 stars
391 Reviews

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