How are you finding a multi family in a no supply market?

[Michelle Reid]

There seems to be zero inventory in our market. 

My husband and I have began an initial search for 4 unit muti-families in the North of Boston suburbs - Lowell, Methuen, Salem, Woburn. 

There are either no listings or they are overpriced and gone the next day. 

If I search FSBO, for every over-priced multi-family listing - there are 15 ads "We buy your house for cash and a free pony at closing".

We haven't tried direct mail yet,  but im not sure how effective that would be in this market. 

What other methods are you using?  

[Jonathan Greene]

What you're calling a "no supply market" is really a "limited supply on the market market." If you aren't doing direct mail or some other form of off-market targeted prospecting, you can't expect to get a deal in a solid market. There are always deals everywhere, in every single market in the country, you just don't know about them if you are only searching on websites or MLS feeds. Hot markets will get multiple bids and the only way to win in those markets is to get ahead of the curve and develop an off-market gameplan. But, you have to find the pockets in the market where less investors are raining down marketing. It's not easy, but when you find the funnel, it will open wide.