Where Can I Find Deals - $5+ Million?

Question

I have some private investor money that needs a home. I just need to find deals. This would be my first apartment complex, so not entirely sure we to look. We would be looking in the $5-40 million space and can go nationwide.

Any ideas? Thanks so much for the help!

Evan Polaski · Answer

@Steven Barr, well you will have a lot of deals to review considering the very broad investment thesis.

Loopnet, CBRE, Colliers, Cushman, JLL, Berkadia, local brokers in markets, driving for dollars.  Most publicly traded REITs have disposition officers whose whole job is to manage the sale of assets from the portfolio.

Your large private equity groups: Blackstone, Bridgewater Associates, etc.  The list goes on and on.

Franky Martinez · Answer

Are you looking for something already built or are you interested in new developments? I have a couple of developments that are possibilities.

Sherry Patterson · Answer

I agree with the above statements. You need to build relationships with brokers. Also get partners. You can do more together! We do syndicated deals and are always looking for deals, brokers and partners. If I can help in any way please let me know. We have 2 deals coming up that we will be looking for partners on. Happy Investing!

Taylor L. · Answer

Most markets' deal flow is controlled by a handful of prominent brokers. The first step would be to learn how to analyze deals and markets. Then, research a number of markets and pick 1-2 to focus on. Then build relationships with brokers and be ready to show them right away that you're qualified and able to close deals. Simultaneously you need to work on building your team in the market, including property managers and other service providers.

If you can partner with an experienced operator that would be best. There are a lot of moving pieces in an apartment deal and partnering with others can help reduce a lot of the risk.