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Updated over 5 years ago on . Most recent reply

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I'm looking for an Apartment building with around 20-40 units.

Ronald Neverenko
Posted

How do I get started in finding and purchasing a 20-40 unit Appartment building in my city? Rochester NY. Any tips on how I can find a good cash flowing property?

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Account Closed
  • Rental Property Investor
  • Mankato, MN
26
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14
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Account Closed
  • Rental Property Investor
  • Mankato, MN
Replied

@Ronald Neverenko have you heard of Melissadata.com? It is a list source where you can have them sort through public data and some they pay to acquire. You can have them find people who have owned their properties for more than say 7 years, mortgage being close to paid off or totally free amd clear. People who have owned for a while maybe more likely to sell. You can put in certain demographics like age to narrow the focus because people that are closer to retirement age may want to be free of medium size apartments like that. There are many other parameters such as neighborhoods or specific building requirements like square footage that you can also add to narrow your search. You can then get a list you may even be able to get emails and phone numbers and then you could send postcards or you could literally try and contact the owners. It cost about $50 or maybe more depending on how large a list you get but I would try and narrow down as much as possible. Hope this helps!

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