How to find small multifamily deals in a slow market?

[Will Teas]

Hey BP,

I'm currently living in Las Cruces, NM and looking for my first buy-and-hold property. I'm looking for a small (2-4 unit) multifamily that I can house hack. The issue is that barely any multifamily properties end up on the MLS; I'd say I get around 2 notifications per month that a multifamily is listed in town. I feel like I'm wasting time waiting for sub-par deals to show up on the MLS, and would like to begin trying alternate strategies to find a deal that I can make work. Do things like Driving for Dollars work for multifamily properties? It seems like Driving for Dollars is more geared towards absent single family owners rather than other investors.

What other strategies would you guys recommend? I know waiting for deals on the MLS isn't the answer!

Thanks everybody

[Bob Okenwa]

1. Direct mail. Getting your own deals off-market will yield the best price

2. Wholesalers. In the current market cycle, take what they present with a grain of salt. Maybe two. 98% of what is presented isn't really a deal once all the numbers are factored in