Family Investing | 5 Ways To Find Apartment Building Deals

Family Investing | What’s going on, everybody? So in today’s post, I’m going to be going over five different ways to find a multi-family apartment building. And I actually own a few multi-family buildings right now, and I’m looking for additional ones. So these five strategies are really my exact marketing plan to find multi-family deals. So you can feel free to copy these strategies, maybe adapt them to your own style or your own market. But either way, these are proven strategies that have worked for me, have worked for other investors, and it’s going to offer a ton of value. So you’re going to want to watch all the way to the end of this video. And as always, if you have any questions about the different strategies, just drop them in the comment section below, and I will be sure to respond to every reasonable YouTube comment. So that being said, let’s jump into it. Okay. So the first strategy I’m going to show you this really awesome website that allows you to basically find the mailing addresses, phone numbers, email addresses, and just all this contact information for different multi-family owners. So I’m actually just going to build a list and show you exactly how to do it in just a minute or two here. So you want to log in. And this website PropStream, it’s just an amazing resource, whether you’re doing residential or multi-family. I’ll put a seven-day free trial link below.

I am an affiliate, so I do get a little bit of a commission. But this is an amazing tool if you’re looking for owners of multi-family or really any type of property. So the very first thing, what I want to do is I want to find a list of multi-family owners in Richmond, Virginia. It’s about an hour and a half or so from me and it’s a pretty good market. It’s less expensive than the Washington area. So what I’m going to do is I’m just going to first type in the city, Richmond, Virginia. And as you can see what happens is it pulls up pretty much every property in Richmond. So that’s 99,000 properties. So what you want to do is you want to go to filter and you want to search by multi-family. It’s as simple as that. So you’d go down to property characteristics. And as you can see here, there’s single-family, condo, townhouse, multi-family. So I’m actually going to do multi-family five-plus. I like two to four units, but for this city, I’m really looking to purchase a 20 or a 30-unit type of building, maybe a 10-unit. But we’ll do this search to start with. So as you can see, it went down to a thousand.

Now, we probably don’t want to market to all of these people. It’s only a thousand people, but we can probably get a little bit more targeted with our marketing. With your marketing, you’re going to be much more effective if you only market to potentially motivated sellers versus the entire market. So we’re going to add a couple of filters here just to really narrow this list down to potential motivated sellers. So I’m going to come down to ownership info over here, and I’m going to do at least 10 years. Some people say do at least 15 years, but Richmond is a smaller city. So I’m just going to do at least 10 years of ownership, meaning the person’s probably built up some equity. Maybe they’re a burnt-out landlord. And you can actually search just quick list searches. You can actually search by tired landlords, which is at least 15 years of ownership. But I like to just be a little bit more specific with it. But as you can see here, you can search for all different types of things. Somebody there’s at least 10 years of ownership, and let’s check the list now. So we were at about a thousand. Now, we’re at about 727. So we’re going to get it a little bit smaller. I’m going to go to MLS status.

I’m going to say not on the market. That probably didn’t do too much. Yeah, just one property. And then you can add liens and stuff like that, so you could add tax liens. If you’re in a bigger city, if I did tax liens, it probably wouldn’t be too many since it’s multi-family. But these can be good ways to search. I’m going to come down here and do just equity. I’m going to add at least 10 or let’s say20% equity. Chances are if someone’s owned a multi-family in this area for at least 10 years, there’s probably some equity there. But we’ll make it a little bit more refined. So now we’ve got 660. And what I could do is I could add one more filter just to make it super targeted. So I could do pre-foreclosures. It’s probably not going to be too many of those. I could do owners that are older. So that means they might just want to get rid of the property, retire, just cash out. So let’s just try that and see what happens. So this brings it down to 61 properties. Now, just for the purpose of this, I’ll show you how it works. But if I was marketing to Richmond, I might try to get a little bit of a bigger list. These are going to be pretty motivated potential sellers. But let’s just do this. I’ll show you how to contact them. So I’m going to click right here. Actually, first, I’m going to do a save search. And I’ll say Richmond, and I already saved a search. I’ll just do 2.0. And you can get new properties when they become available. I’m just going to say no to that. So save. And what I’m going to do is I’m going to add these to the list. I’m going to do create a new, new marketing list, Richmond. I’m going to call it Richmond Multi-family2.0. Okay.

Now comes the fun part. So another great thing about this service is that you can get up to 10,000 names for just the basic monthly cost of about a hundred bucks. So it’s really impressive … If you were using ListSource or some of these other websites, you’d be paying significantly more to get these names. Okay. So I clicked on my properties over here, and it shows you some lists that I’ve been building. We’ll do Richmond multi-family, this one. This is the list right here. And so as you can see, it has the owner’s first name. A lot of these are LLCs. So it’ll show you associates, LLC. And you can actually search by people that own it in an LLC or individual owners because sometimes you can just get better deals if it’s an individual owner rather than an LLC, just a thought being an LLC might be a little bit savvier of a seller. But here’s our list.

And what’s cool, it gives you the mailing address. So you could just send direct mail to them. You could export this list right there, or you could also just do direct mail from this site here. What I’m actually going to do, I’m going to show you how to skip trace so that you can get their email and phone number. Now, as far as skip tracing goes, I’m going to go over here, skip trace. It brings you to this site. So it’s affiliated, but it’s really inexpensive. I think it’s like 15 cents to basically get their phone number and email address. So you log in. And once you’re in here, you can just do a single skip trace, or you can just skip trace a list. As I mentioned, it’s like 15 cents. It’s really inexpensive. And it gives you the results pretty quickly. So I’ll actually show you right now. Do bulk skip. Minimum orders are 15, 15 cents. So ideally, you’d want the person’s first and last name. This one is a lot of LLCs, so it might be a little bit more challenging to get their info. So I’m just going to export this list andthen upload it here. All right. So I’ve just exported my list to Excel. So these are all the multi-family owners that meet certain criteria. I’m going to upload them now to REISkip. We’ll call it Richmond Multi-family. Do next. And it’s pretty simple.

So now you just have to match up the different first name, last name. So I’ll go ahead and do that real quick. So you just want to try to match up as many as possible. There’s really about 10 or 15. The most important ones are property address, first name, and last name if you have it, and mailing address. You don’t need to put estimated value and all this other stuff. So we are going to go skip trace this list now and get some property owners. So it’s just showing me the difference… the names. And like I said, a lot of these are in LLCs, so it’s going to be a little bit more challenging. But at least we’ll have the mailing addresses possibly get some emails and phone numbers. So approve. So for 61 records, 15 cents per match, a total of 10 bucks. Not bad, right? So it usually just takes a few minutes. As you can see, it’s still processing.

But it’s giving me some phone numbers already contact. And usually, what will happen is it’ll give you phone numbers and email addresses. So it’s really cool. You can do this all across the United States and you basically just build a list of commercial property, multi-family owners that you can just stay in touch with once a month, once every few months. Give them a call, text, email, send direct mail. And that’s how you’re going to find some good direct-to-seller type of deals. Okay. So here’s the website again. It’s just PropStream.com. And if you sign up using my seven-day free trial link, I’ll actually do a free 30-minute coaching call with you where we can talk about marketing, wholesaling, renovations, investing, rentals, pretty much any real estate topic. So sign up below.

And let’s check out the second-best way to find commercial and multi-family deals. And a lot of multi-family investors will actually tell you that the best way to find deals is by networking with brokers. So LoopNet, you do need a membership, but you can search for a lot of stuff for free. I don’t actually have a membership, but you can get a lot of information for free here. And a thing to know about this website, a lot of people say LoopNet is where commercial properties and multi-family properties goto die, meaning most of the properties here are going to be overpriced. And you do hear about people getting good deals, but the whole point of LoopNet is to make a list of commercial real estate brokers that can start sending you deals.

So you would find whatever location, whatever type of property you’re looking for, and then just build a list of all the real estate agents selling those types of properties, because, believe it or not, most multi-family properties get sold off-market. And really, what happens is a broker will get the listing, and then they’ll just send it out to the five or 10 investors that they know might be interested as opposed to listing it on the MLS. So if you can make a list of these brokers, similar to how we made a list of sellers, and you just tell them what you’re looking for, stay in touch with them, chances are you’re going to see some pretty good opportunities. So I’ll just show you a quick search. You can play around with this a little bit more.

But I’ll just do multi-family. And let’s say Richmond again, Richmond, Virginia. So now, it pulls up a list of just the ones … There’s only 14. But what you could do is, if you’re looking for a 10-unit building in Richmond, you might … you would probably click on this property. You probably wouldn’t purchase this property. I haven’t even run the comps, but it looks a little overpriced. And you would scroll down and you would … These are the listing agents. So you would start building a list of agents and it should have their contact info. And if it doesn’t, you can probably easily just look them up and find it.

But then you would build a list of maybe 20,40 or 50 commercial real estate agents in Richmond, and you would just start contacting them. And then if you had the direct marketing going along with the networking aspect, you’re going to find you’re going to get some results. So those are the two best strategies for finding multi-family buildings. However, I’m just going to show you three additional ways that you can add to it. I would focus on these two. But then if you add on these three ways, you’ll probably see some more deals. So another way is just going on your own MLS.

And like I said, a lot of properties don’t list on the MLS, but there are some that do. And if you’re diligent and follow up and makeovers, you can probably get some deals that way. So I’m here in my MLS and I would just do search multi-family. And I’ll just do DC because I don’t think this MLS actually goes down to Richmond. And as you can see, there’s only really 71. I’m actually going to do ones that have closed well, just because you can get the listing agent’s contact info, because like I mentioned, a lot of it’s going to be networking with agents. So we’re just actually going to do everything that’s under contract as well. And a lot of these are just going to be smaller multi-family.

But see, these are mostly four units. But as I said, you can get the agent’s contact information. And if there’s multi-family, you can see … you can look up the agent, see what other types of deals they’ve been doing, and maybe the focus on multi-family. You basically just want to build a list of agents, and then potentially you could just search the MLS and find some every now andthen. Multi-families don’t come up as often as residential. But if you know what you’re looking for, you can definitely find deals. A fourth way of finding multi-family properties is just through Facebook groups. I know that sounds maybe not like the best strategy, and you shouldn’t make this your main focus. It shouldn’t be your number one strategy. But I’ll show you that you can find deals. I’ll show you an example of a Facebook group I’m in where every now and then people have multi-family deals. So pretty much every city has a Facebook group where people just post deals and whatnot. And what you can do is you can just search. And let’s say I search by multi-family. See what shows up. There’s multi-family. See, for example, a direct-to-seller multi-family portfolio. And some people are just looking for ones, but then there have been some. A lot of people are looking for them.

But you will ever every now and then see people that say, “Five units, four-unit, 10 unit for sale. Direct message me,” that type of thing. And actually, I know this guy. He does a lot of multi-family. So this guy lists a lot of multi-family properties. So this would be a person you would reach out to. Our inventory, two to four units, private placements, blah, blah, blah, blah, blah. So, yeah, he has a 1,500 multi-family owner list. So you get the idea. You can join a couple of local Facebook groups and find deals that way, or at least do some networking. And then the last strategy I’d recommend is getting on different wholesalers’ lists. Most wholesalers do residential deals. But every now and then, if you have 20 or30 wholesalers on your list and they’re sending you deals every month or so, they going to come across a multi-family. It might not be a 50-unit or a 100-unit. But if you have 10 or 20 people looking for deals for you, chances are they’re going to come across something. And if you’re really specific, most people just tell the wholesaler, “Hey, I’m only looking for rehabs,” but you can stand out a little bit. Say, “Look, I’m looking for multi-families.

So just let me know if you come across anything.” And a couple of ways to build a wholesaler list, anytime you see a We Buy Houses sign, just write that phone number down. And pretty soon, over the course of just driving around your neighborhood for a week, you might have 10 or 20 of these phone numbers. And then a couple of other ways, you can just go on LinkedIn and you could really just search wholesalers in your area and then just build a list. I get all these spam messages on … So you could just do wholesale, wholesaler, and then you could just narrow it down by, let’s say I’m in the Washington DC markets, Washington DC.

So I have a wholesaler, Washington DC, and 274. Not all of these people are going to be exactly… This guy’s a wholesaler of wine, but there’s a lot of people. And you could also just do wholesale. Some people just do wholesale. You get the idea. You can search these people and you would reach out to them. You get different contact information and go from there.

So those are the five strategies that I’m currently using. And like I mentioned, I would focus on just direct-to-seller marketing to potentially motivated sellers and then also networking with commercial real estate brokers. Those are going to be the top two ways you spend 80% of your time doing those, maybe 20% of your time doing some of the other stuff. So let me know if you have any questions and I’ll see you in the next video. All right. Bye.

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