Where do you find your listings for apartment complexes/duplex/triplex/quad/ etc...? Website? Look for them and then talk to owner?
1-4 units I find them like I do other residential real estate - driving for dollars, direct mailing, REOs and MLS.
For anything larger i.e. commercial - utilize your pro-membership for a replay tonight webinar on investing in apartments. @Brandon Turner should have the link posted soon - but he did mention that it can depend on the market for Apartments. In his market MLS works well. The general consensus in the community is that Loopnet is not a good resource; however, you can use Loopnet to network with brokers.
I hope that helps.
@Michael Roy Thanks man! Work ran a little late tonight so I could only catch the ending of that webinar. I'll definitely watch what I missed as soon as possible. I figured that would be something he covered early on. I asked it at the end, but as we stated, there were hundreds of questions flying at him. Can't answer all of them! Thank you again.
Hey Joe, I took notes from @Brandon Turner webinar last night. To find these listings he suggests using the following methods.
3. Commercial brokers
4. Direct mail
7. Passion to unearth these deals via word of mouth. He acquired his 24 units this way :-)
I hope none was missed, but, these should get you/us going.
We have found our first 3 on the MLS, and through the relationships our realtor has formed we now hear about some properties before they are formally listed.
We have yearly tax auctions and have looked at those, but so far nothing has sold for a low enough price for the condition. I also got a lead from a prospective tenant- she wanted to move since her landlord planned to list the house- but we are about to make an offer on a couple more so won't have the $$ to pursue that lead.
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