Real Estate Agent · Fort Wayne, IN · Member since 2018 · 16 posts · 1 vote
Hey I’m a new member!!
Currently flipping my first home. I know I would like to get into apartment building and will be interested in buying late this year/ early next year. I’d like to get the feel for running the numbers on potential deals and studying what to look for.
If anyone has a recourse where I can look at properties online I would appreciate it.
Also looking for a BP group in my area to plug into I live in Fort Wayne IN how can I find one?
Like @James G. said, it's through your relationships that you'll likely find the deals. Online is good for getting your feet wet and a general knowledge, but work on those relationships to build deal flow.
Welcome to BP. Loopnet has listings for all types of commercial real estate including apartment buildings. Some of the listings will provide you with an offer memorandum which you can review and gain insights into the building/location/financials.
Developer · Charlottesville, VA · Member since 2018 · 4k+ posts · 4k+ votes
7y
You can also find them in MLS depending on the setup in your area. Check with some brokers they usually will not hesitate to send you the smaller deals to look at.
Investor · St Louis, MO · Member since 2017 · 250 posts · 181 votes
7y
Loopnet is good, apartments.com is good, but the best way to find deals is always going to be through your relationships in this business (mainly your brokers). I wish you the best of luck, getting into apartments is very exciting!
Like @James G. said, it's through your relationships that you'll likely find the deals. Online is good for getting your feet wet and a general knowledge, but work on those relationships to build deal flow.
Real Estate Agent · Fort Wayne, IN · Member since 2018 · 16 posts · 1 vote
7y
@Seth Ferguson yeah I’m more interested in finding deals in different areas to play with numbers and get an idea of what I like. Does that seem like a good idea to you?
Rental Property Investor · Denver, CO · Member since 2018 · 183 posts · 172 votes
7y
@Oleg Brown you could also go to Marcus & Millichap's website and sign up to receive listings for a targeted market. They're usually larger deals, but will often have deals between the range of 12-20 units.
Rental Property Investor · Doylestown, PA · Member since 2008 · 1k+ posts · 1k+ votes
7y
Hi @Oleg Brown - Loopnet, Costar, MLS and then sign up for listings with large commercial brokers. They are always overpriced but they put together nice offering memorandums which you can then use to see how the numbers on properties are calculated. When you are ready to find deals...the best ones are usually going to be through relationships with brokers. When you have a strong enough relationship you will find out about deals before they are marketed to the world. 3 of my last 4 commercial purchases were off market, through brokers.
Hi @Oleg Brown - Loopnet, Costar, MLS and then sign up for listings with large commercial brokers. They are always overpriced but they put together nice offering memorandums which you can then use to see how the numbers on properties are calculated. When you are ready to find deals...the best ones are usually going to be through relationships with brokers. When you have a strong enough relationship you will find out about deals before they are marketed to the world. 3 of my last 4 commercial purchases were off market, through brokers.
Rental Property Investor · Doylestown, PA · Member since 2008 · 1k+ posts · 1k+ votes
7y
Costar has a limited free option I believe. Or a free trial. Same with Loopnet. Honestly, I use them mostly to network with commercial brokers. I haven't been on CoStar in a while. You'll start seeing the same names pop up in the areas you are looking.
CRExi, Loopnet, Ten-X, and CBRE are the ones off the top of my head.
With regards to finding a BP group in your area, check out the events tab. If there isn't anything on the events tab here on the site, or any nearby REIAs on the Meetup App, then you should definitely start your own! You already have great experience with your current house flip and could provide value to other investors in the area.
Rental Property Investor · Doylestown, PA · Member since 2008 · 1k+ posts · 1k+ votes
7y
@Oleg Brown - feel free to message me if you have any additional questions on acquisitions or financing. I've worked with many investor friendly lenders across the US. Glad to help.