Finding Off-Market Multifamily Deals

[Carlos Casanueva]

 I have used Listsource and Realeflow to find single-family deals based on my criteria, but they don’t translate well to multifamily properties. What programs do you guys use??

[Omar Khan]

@Carlos Casanueva A lot of people hire VAs from Philippines from online websites (Upwork, etc) that specialize in these types of placements. They can instruct these VAs to create lists of brokers, agents, lenders and property managers in their selected markets. They then send out mass emails introducing themselves to these said people expressing their investment criteria and setting up a phone call. All of this is done by the VA including initial screening.

The software used by bigger investors is mostly on the database and analytics side. This makes it easier to get demographics, comps and other macro/micro level information which is helpful in underwriting, market analysis and other research. 

Nonetheless as the posts above me have mentioned, this is still a relationship heavy business. Brokers prefer dealing with closers which creates a chicken and egg type situation.