Having Trouble Finding Buyers for my Off-Market Property

[Kevin Zadourian]

I am a commercial real estate agent in Los Angeles, CA & am working with a few off-market motivated sellers. My problem is I don't really know how to find buyers for my properties. They are multi family properties and one of them even has pre approved plans from the city for an additional 5 units (literally ready to break ground). I have created OM for the properties and have found a few people who seem interested but, haven't heard back from them after sending a NDA and the OM. I feel kind of stuck because I can't list the properties so I don't know how to reach out to potential buyers. I was thinking maybe through social media? But, it is kind of hard to advertise a property when it is off-market because I can't disclose the address of the property. If anyone has advice on how I can reach out to more buyers please feel free to let me know.

I like to add that I have been also calling multi family property owners in the area and asking if they are looking to purchase another property but, it doesn't seem to be going anywhere.

[Darwin Crawford]

I guess my first question would be, "are they deals, or just off-market?"  

Typically, coastal california RE that is any kind of a deal goes pretty fast.  That being said, we are starting to see some increased CDOM/DOM for the higher-end development deals here in the affluent areas of town, because the numbers don't work.  

There is a guy on here who posted a very extensive thread about a SoCal development project, he might be a good contact for you.  

But the first thing I'd do is figure out what you have.  Is it a greedy seller who wants top dollar for a pile of poo, or someone who is actually going to work with the guys/gals who are going to execute the project and have their butts/reputations/credit scores on the line?  

No legit buyers want their time wasted, so, in the words of Ronald Regan......trust, yet verify.  

Happy Investing!