How Did You Find Your Last Multi-Unit Deal?

[Tim Porsche]

Hi All,

I'm in the market for my next multi-unit property. I currently have two SFH rentals and two duplexes. All of these were purchased pre-covid, and with the exception of one, all were found on the MLS. Looking now though, obviously good multi-unit deals are much harder to find on the MLS than they were several years ago. I remember back in the day I could pretty easily find deals on the MLS that weren't in high crime areas, where the numbers really made sense. Now it seems very different.

So my question is, for those of you who have closed on residential multi family deals recently, have you been finding these on the MLS or elsewhere? I'm trying to determine if I should focus my efforts more on the MLS or off market. Thanks in advance for any feedback.

[Robert Rixer]

A lot of multifamily's especially larger ones will transact outside of the MLS. Check Crexi and Loopnet as a start. A lot of commercial/multifamily brokerages will only advertise their listings on their own website so identify who these prominent multifamily brokerages are in your area and subscribe to their email list or just check their inventory periodically. That's a good start.