Advice on Off-Market Apartment Strategies

[Kenny Bao]

I’m currently looking for an off-market apartment property (100+ units) in a busy urban area in the state of Texas and wanted to ask for your insights.

Could you share your strategies for finding such deals? Are cold calling or broker relationships more effective? Any tips or scripts for reaching out to owners would also be helpful.

I’d love to connect and learn more about your approach. Please let me know if you’d be open to a quick chat

[Charles Carillo]

@Kenny Bao

Typically, larger properties are sourced through brokers. However, I do know 2 investors who have purchased 70+ unit properties via seller outreach, but it takes time. Repeated outreach to the seller and building rapport. Many investors opt for building broker relationships when buying 100+ unit properties, but it also takes time to build a relationship with the broker. 

If you go the direct-to-owner route, commit to doing consistent outreach for at least a year or, better yet, at least 2 years. When I began direct-to-owner marketing for multifamily (12-40 units), I realized it usually takes many months and touchpoints to build rapport with most sellers where they are willing to really open up about their property and financials.