Multi-Family Property Wholesalers?

Question

New to Houston.  Are there any reputable Wholesalers in the Houston Market that primarily work in Multi-family Properties?

Cody L. · Answer

No.   Honestly, it's pretty much "no".  I have a few guys that send me deals but most are not that great.  Typically the deals I buy are sent to me by some of the larger brokers. They'll send me their pocket listings to check out first.

But even if you found one, they're always going to send their deals to a few buyers they know act quick and perform. If they all pass, they'll send it to their main list.  If still no bites, they'll have brokers and partners they know all blast it out for a share of the fee.  If still no bites, it goes on loopnet.

So even if you reach out to a broker/wholseller, unless you have proof of transaction history, you're going to be their 3rd or 4th call/blast just before loopnet.

Ryan Webster · Answer

@William Leavelle

I can bird dog for you.

What are your criteria?

# of units

Aquisition cost

Asset class

Sub markets of interest

Investment strategy

Asset Age

William Leavelle · Answer

Thanks Cody!   Very much appreciate the advice!  I will keep you informed of my progress.

Best,

William

Cody L. · Answer

But hey man, don't let that hold you back.  That was me when I started.  And still today I buy from loopnet/MLS on occasion. Lots of deals that have some 'thing' about them that causes others to pass (bad in-place financials are a bit one where others pass because it has a low going-in CAP).  Or one that doesn't have any financials so you have to proforma.  Sellers that want all cash.  Who knows.

William Leavelle · Answer

@Cody L. Thanks for detailed Response.  I knew it was a long shot, but wanted to ask.

Best!

William

Multi-Family Property Wholesalers?

Most Popular Reply