Large Multi Agents on BP?

[Nathan Weber]

Are there any agents on BP who work with large multi of 150+ units? It seems when people on the forums say large multi they generally mean 10+.

Thanks. Looking forward to speaking with you.

[John Warren]

@Nathan Weber I don't think many successful commercial agents spend a lot of time on BP unfortunately. This is due to the nature of their business and also the fact that BP is more geared towards folks discovering investing for the first time. The 150 unit plus space is full of family offices, institutional money and experienced syndicators. 

If you have the balance sheet to dive into this space, then I would work backwards. Look up active listings on LoopNet or other commercial sites, and then call the agents. The goal is not to "find a deal" like you would on the MLS, but instead you need to start the relationship. It helps if you know the lingo. If you can talk about types of debt you want to use, a competent 3rd party manager you will use, a partner's track record or things like that you will be in good shape.

Most deals that really make sense are not marketed to the general public on the internet in this space. That is because there are probably only a few dozen buyers for these deals, and they are very competitive. A typical 100 unit deal may have a "whisper price" (aka there is no list price) and it may be sold after 5-10 tours.