Finding Apartment Syndication Deals-FAST!

[Tate Siemer]

Hey commercial multi-family deal finders, what do you think is the fastest, most efficient way to find apartment building deals?  We're currently looking for C class properties with a value add in Salt Lake City, Cincinnati, Austin, Indianapolis, Charlotte, and DFW.  We consider surrounding markets as well.  We look for 50-200 units, ideally 1970 and newer.  We need to increase the number of deals that we see as we have significant funds ready to deploy.  Any thoughts?

[Greg Dickerson]

@Tate Siemer I know some great operators if you are looking to invest in a deal.

If you are looking for your own property the best way to find off market commercial and multifamily properties is to compile lists through a paid service like list source, Reonomy and CoStar or you can use free resources like Loopnet, CREXI, CBRE, Craigslist, tax database, brokers, property managers, title companies, multi family inspectors, appraisers, landscapers and other companies that service commercial and multifamily properties and driving for dollars.

The real key is in how you approach the owners and then the follow up.

Cold calling is by far the most effective method but you really need to know what you’re doing, how to open the conversation, what questions to ask and more importantly when to listen and not talk. Most importantly you need to convey confidence and assurance you are a player and not just wasting their time. Remember you are building relationships with the owners.

Follow up is crucial and where 90% of investors and sales people fall short. You have to consistently follow up in a meaningful way and you will get deals.