Bradenton, FL · Member since 2017 · 168 posts · 39 votes
I am interested in finding a good multi-tenant apartment complex like a 16 to 24 unit for a price range of 300-700k. However, I have no idea where you guys find these deals. Can you assist? I would like to find an older investor that is looking g to retire, put 200k of my own cash into it and finance the rest.
Finding apartment complexes is a long process, especially if you want to find a good deal. You need to ensure you know how to underwrite such projects fast and efficient to be able to jump on an opportunity in a timely manner. You should also start building your team now before you find anything to be ready to take it on. What I'm referring to is such professionals as property manager, insurance and loan broker, attorney, accountant and etc.
As for ways to find such properties, read up the following articles:
I am interested in finding a good multi-tenant apartment complex like a 16 to 24 unit for a price range of 300-700k. However, I have no idea where you guys find these deals. Can you assist? I would like to find an older investor that is looking g to retire, put 200k of my own cash into it and finance the rest.
Start with loopnet.com and also reach out to brokers in your target market. Ask any investors you know for referrals and introductions. Crawl craigslist to call small property owners if they self-manage. Once they are on the line you can inquire about acquiring their asset.