Finding off-market Multi-Family

[Brody Garcia]

I am looking for off-market Multifamily under 100 units.

What strategies are you finding successful for reaching out to the owners? 

What services are you getting their information from?

[Bill Ham]

Direct mail. Use a business form letter. Windowed envelope with a stamp. Make look business and maybe official. Totally opposite of what you might do for a SFR mailing. This works well from SFR to about 10 units. The response rate (for any type of direct-to-owner model) will drop off sharply as you go up in unit size.

Keep in mind that you can still get deals "off market" through a realtor. What you are really wanting are deals that are "Pre" market. It’s a pain in the ___, but building a relationship with a few local commercial realtors can bring you lots of deals...just not a first. Most realtors will offer a really good deal to their close list of buyers first. If no one on that list offers high enough, they take it out publicly and that is what you are seeing as a market deal. Get to know the realtor and get on the “Know, Like, and Trust” list and you will get calls and deals. Not off market…pre market. Good deals don’t stay on the market long and great deals never come to market at all. They’re traded privately.

P.S. I am not a realtor.