hi, what are useful criteria when searching for multifamily properties online? i used preforecloser with absentee owners. and also thinking about adding owners with 5 or 10++ owned the properties (is this ok or should i take off the years they owned the property).
i use loopnet and find properties with 15 plus units, cap rate: 8%-14%, $1M-$4M and once you have the property addy, contact the county assessor and find out the actual owner and send them a LOI or just a simple letter stating your intentions…This eliminates you having to make dry calls and etc. Calls will come to you…
every time i check out loopnet almost or all of the properties seem way over priced. not sure its just my area (orange county ca), but do u get any good deals out of this site? i probably need owner financing and thinking about sending yellow letters to preforclosers and out of state owners with 10+ owned
CA cost of living is very high compared to most…I search in midwest areas mainly…Meantime build buz credit by building a company with a strong SIC code. Make loans to yourself and company and file UCC papers and your credit will build…don’t be afraid to step out of state…