Where/How did you find your first multifamily deal in NJ area

[Marta K.]

Hello all! I would love to hear some successful stories regarding how did you find your first multifamily investment property? I have been actively looking for deals on MLS and contacting real estate brokers but it seems like there are very few multifamily properties meeting my criteria. I am looking for 10-20 residential units in North Jersey. I am spending over 10 hours a week running different searches on a top of my day job. Should I stick to MLS or explore different sources?

Looking forward to successful stories/advice on how did you find your first multifamily deal and how long did it take you (3 months, 6 months, 1 year etc.).

[Jason D.]

@Marta Koutsogiannis BP has members of all levels, from beginners to portfolios consisting of thousands of units. In your situation, when it comes to commercial multi family properties, this sites are not going to give you your best deals. Most of these transactions are done before a property hits the open market. What you see listed on places like Looper are the leftovers that were not desirable to the professional investors. Your best chance of success in this area of real estate is networking. Go to local meetups and tell everyone that will listen what you are looking for. Off market deals are your key to success. Good luck!