Finding Multi-Family Sellers

General Real Estate Investing
1

Fellow Investors,

I recently sent my first mailing to multi-family apartment owners and property managers. I got a fair amount of calls and one semi-solid opportunity but the seller and I were not able to make it work.

My question is, “what are some other successful ways to locate apartment owners that do not have them listed on the market yet?” I don’t want to go through a realtor because those sellers seem to have a better idea what their property is worth and I am looking to find a bit of a discount. Any tips would be appreciated.

Good investing and Happy Holidays,

Sonriffic

2

You’ll find a lot of multi-family deals at your local REIA and/or apartment association.

Mike

3

It is extremely easy to throw away a piece of mail you have received from an address you don’t recognize. Also, it you send mail you have to wait for the mail to take its course and then hope that someone calls back. Make a phone call, it is much more personable and direct. Too, you get an instant answer as to whether the other party is interested in selling. This way you can maximize your time and move onto your next project. Good luck.

4

Jbaldwin is exactly right. You’ll have a lot more success with phone calls than mail and it’s a lot cheaper too!

Mike

5

WAIT A SECOND!! Did you just agree with me about something :biggrin

6

When you’re right, you’re right!

Mike

7

I agree with propertymanager.I have found several sellers of off market/unlisted property at my local real estate investors club. You may want to check a few out in your area.

8

if it is a specific piece of property I would just pick up the phone and call

if you have a list of 100s of properties I would send out some post cards - then calls the ones that you would be most intrested in

9

Thanks for the idea, but aren’t most people at a real estate investors club fairly educated as to what their properties are worth?