Putting my goal out there!

[Joshua Feit]

What's up, BP!

I have 10 rentals -- 8 long term units and 2 airbnb rentals in the mountains. And it's time to RAMP UP!

I thought I would take the bold step of getting my dream out there. Type it up. Put it into the world and see what happens...

I want to scale up into an apartment building or small complex this year -- like 18-24 units. That's a big step for me, but I've learned a lot from my 10, and I think I'm ready for the next challenge.

This is not a 'want ad' that's mis-categorized and should be in the marketplace. That's not what I'm trying to do. I really just want to state my goal in front of the community as a first action step. And as usual -- I have a few questions!

Any advice on how to start to network for this sort of deal? Are properties of this size generally brokered? Or are there off-market opportunities?

Also, I'm not afraid of owning out of town, and I'm interested in towns with mid-size colleges and housing shortages. I'd love to hear any ideas you have about markets that may be a fit for my search.

I would love to connect with anyone who has or had such an asset in their portfolio. If you have any advice for me, it would be greatly appreciated!

[Greg Dickerson]

@Joshua Feit first do as @Theo Hicks suggests.

Second you are in a great market if you live in Atlanta. I would recommend you start there especially if you know it well.

Yes these properties can be found on and off market.

The best way to find off market 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.