How to find profitable multifamily properties

[Jeff Wallenius]

With the New Year approaching I'm looking to grow my real estate portfolio in 2015.  I've decided I would like to pursue Multifamily Real Estate.  I plan to use my profits from rehabbing homes (goal of 25-30 flips this year), to buy long term hold multifamily properties.  My question for other investors, how have you found your multifamily properties?  I have access to our local Listing service, it seems as though great deals are very few and far between.  Anybody have any luck with writing letters, and if so what is your target audience?  Are commercial brokers a reasonable asset to have in place?

When talking Multifamily, I'm looking at everything from a 4-plex to 40-50 unit apartments. 

Happy Holidays!

Cheers 

[Morry Eghbal]

@Michael Wolffs when you are dealing 4 units and down, majority of people hold it in their own name. The are not the most sophisticated Real Estate Investor who deals with 32 or 50 or 100 units. In any respect, send the letter to the owner of the record, you can rest assure someone will get your mail. 

@Jeff Wallenius I am going to give you the most complicated and sophisticated letter is the history of real estate. 

This is a sample letter if you are a Realtor.

Dear Jeff Wallenius,

Would you consider selling your units located at:

(property address)

to a possible client of mine?

Sincerely;

Morry Eghbal

If you are an investor write this letter

Dear Jeff Wallenius,

Would you consider selling your units located at:

(property address)

to a me? You may reach me at (999) 999-9999. 

Sincerely;

Morry Eghbal

To this day in 25 years I have sent over 2,000,000 letters and postcards. This is the basic structure of my letters. I learned it from Roger Butcher a real estate trainer from Sacramento Ca. in 1990. 

It is by far the most powerful letter for absentee owners.