I want to get into the the multifamily- where are the deals?

[Sam Smith]

I have a few SFR rentals and recently sold a few of my SFR making me cash rich but I am having a hard time finding good buy and hold deals on the MLS or loopnet for bothe SFR or multifamily. The multifamily sector seems to be very hot and competitive. In fact, I don't understand why anyone would buy a property capping 6% and borrow at 5%.

Any advice on what to do with my cash until the right deal comes.  I was thinking of doing some flips again but worried that the deal will come once I am vested in a flip.  Any advice?

[Ryan Dossey]

@Sam Smith

90% of what you're going to get on the MLS especially in multifamily is utter garbage. The good deals are bought as pocket listings, sold to investors off market, or not on the market yet. I would highly recommend sending a company letterhead mailing piece to owners of properties with 5+ units. (Traditional financing is off the table so its harder for them to sell)

You may even find someone who is open to seller financing that way.