Best way to find contacts for smaller multi-family owners

[Jonathan Schlimme]

Hi there, 

I'm a new investor looking to purchase my first multifamily property. 

Can anyone speak to the most efficient way build a list of properties and owners contacts for the specific type of MF property I'm searching for? 

I'm looking for 8,  16, and 32 - plexes. I'm trying to build a list of those types of property's and their owners here in my market so I can get to know them and ultimately find someone who might be interested in selling . 

Right now my tactic is to drive around and look for the properties i'm looking for or scan google maps. Write down the addresses . Use RedX to find the phone numbers for the owners and then call them . 

What I'm wondering is if there is a tool that would let me search for "All commercial properties with X number of units " and then find a list of all the properties in my market ?  

I've thought about PropStream but don't know if there are others . 

Just looking for tips - Thank you ! 

Jonathan 

[Andrew Moore]

There are a variety of different ways you can try and get their information. The efficiency of each I would say depends on the systems you build around that.

I use RedX as well, and that can be a decent resource for getting leads. I know they have an option for "landlord" leads, but I think that more relates to SFH & 2-4 unit properties. I wouldn't say this is the most efficient, but it would definitely give you contacts to start reaching out to. When I am prospecting for something like that, if I get someone on the phone I try to get as much information on their entire portfolio as I can if the conversation allows it.

Getting involved in your local REI meetups, groups, events, networking with commercial/residential agents, etc. could be good ways to rub elbows with people who might have themselves (or know someone who has) a property like what you might be looking for. This takes time, consistency, and discipline, but once you get connected within the community it may prove to be very fruitful.

If I find a property that is owned by an LLC, I will go onto the states corporate page and look up the entity. If the registered agent is an individual, I will look them up as best I can to see if I can get an address, phone number, etc.; If the registered agent is hired by the property manager to act solely as the registered agent, I reach out directly to them and try and get a conversation going around their clients desire to sell.

You can also establish a marketing strategy around generating leads from Social, google adwords, among many more. This takes a decent amount of time, money, discipline, and consistency, but can generate leads. If you already have a presence as a local agent, or withing your sphere it may help slingshot your progress forward. Otherwise, it's about putting out valuable information that attracts individuals that own properties like that, a call to action to capture their information, and continued follow-up to be prepared when the time is right.