Best Results with Multi-Family Sellers
Hello BP Members,
I have been a real estate agent for the past year and am now transitioning over to be a commercial real estate agent. I was brought in by another commercial agent who has given me a 20 page list of vetted buyers looking to buy 10+ units. I have access to the names, address and phone numbers of all the potential sellers in the area. I have sent out mailers every month and make calls daily. There have been a few good leads that I am currently working with but am curious to know what has produced the best results for other BP members.
Joyfully,
Lara Fernández
Most Popular Reply
@Lara Gonzalez many MF owners are more "sophisticated" investors than the average real estate buyer/seller you might have worked with on the residential side.
As such, they would expect you to be up to speed with market conditions, MF terminology and a clear understanding of how MF properties are values (and particularly the sub-market cap rate).
If you come across a "mom & pop" owner that is not as sophisticated, these guys will probably lean more on the relationship part as @Avery Gilmer mentioned and won't talk "business" with you before they learn to know and trust you.