Finding Good Multi-Units?

[Chad Jarrah]

Hey all...just curious if you guys had any other resources or websites you'd recommend to find good deals on multi-units. I search the MLS all the time but just wondered if there were any other resources exclusive to multi-units. Thanks in advance!

[Chris Field]

The MLS and Loopnet can be great resources and once and a while really great deals come on them, but...

It will take a bit of work but not that much really. Farm your local area, send personal letters to a few hundred multi family properties. You will score some really profitable deals doing that.

I got some of my best deals buying land just sending printed out letters with hand written addressed envelopes. I average about a 10% call rate, and some old timers save those letters for years. I have gotten calls 5 years later and bought property from them! 

You want to find the owner who has had the property forever and is just looking to get out, they don't like their grand kids or real estate agents. Maybe they will even owner finance!