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Updated over 3 years ago on . Most recent reply
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Ideas for Simply Locating Local Multifamilies
I, like many buyers in this market, am having a hard time securing a deal that cash flows through the MLS. So, I'm looking for ideas on simply how to find small multi-family properties that exist in a given area. Part of the reason I bring this topic to you is frustration of missing this property that sold about a month ago. https://www.redfin.com/MI/Whit... I would happily pay above its sold price tomorrow, given some assumptions. It was listed incorrectly as a single family home which didn't help my case.
My question is this: If this property wasn't listed, how could I ever find that it exists? It's a duplex just 5 miles from where I live, that is nestled behind some trees in a rural area. Is there any way to discover multi-family properties that exist outside of for sale or for rent listings and happening upon one and seeing 2 doors and 2 addresses or apartment numbers? I'd be happy to dig through documents or do some other kind of leg work. I just don't know of anything that indicates more than one unit in a residential building. If anyone has any ideas, I'm all ears!
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@Andrew Ramos any small multis you see driving around take a note of on your phone, especially if it looks distressed. Also, You can pay for services through list source, prop stream, reonomy, and many others. I’ve used all three of those and can vouch for them. I would suggest Anson Young’s “Finding and Funding Great Deals” it really is a gem of a book when trying to learn how to find the deals you want. Best of luck!