Large Distressed Multifamily

6 Replies

Does anybody have any good ideas on how to locate large (50-100 unit) distressed multifamily opportunity on Westside of Houston Texas ?

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Pva, brokers/agents, Loopnet.com, lead list companies can pull the data, driving for dollars, apartments for rent on: (Zillow.com newspapers, property management companies or even on HUD website), Realtor.com

Hope this helps

I've tried brokers and connected with some high level guys.

However, either there are no opportunities out there or I've still to connect with the right ones.  There is no easy way to find these guys (that I know of).

I'm considering direct mail - anyone had any experience with this (large multi direct mail programs) ?

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Hi Mark,

Did you have any luck finding a 50-100 unit deal? If so what did you find to be the most effective method? I have tried sending letters, cold calling, craigslist you name it. No luck so far. Brokers send me overpriced properties that have been sitting for months.

I can find small multifamilies fairly easy. When I look for 50 in one location, they are not selling.

Thanks,

James

There is not much activity.  If you can befriend the right broker they can create a list of all properties (on and off market) for you in your target area with your criteria, and you can send unsolicited offers. But in good areas, this is not working either right now.

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