Renovation Multi-Family Projects

[Khizer Husain]

After doing research, I have realized the maximum upside is in BRRRR strategy for Multi-Family. It is very hard to get good deals or find renovation multi-family projects. Ive been on loopnet and Crexi. Nothing exciting, Anyone know any website or place where I can get Renovation-MultiFamily listings or deals? I am open to all over America, however looking for significant upside.

Thank you. 

[Evan Polaski]

@Khizer Husain, you strategy will depend on the size.  A duplex is a multifamily, as is a 400 unit complex.  Because you are on Loopnet and Crexi, I assume you want something over probably 20 units.  Typically, but not always, your biggest, institutional grade assets will be with the major brokerages, CBRE, Cushman and Wakefield, Marcus and Millichap, Colliers.  Then you can get into the next tier brokerages: in my market that would be Capstone Real Estate, Berkadia seems to do a fair amount and I am sure there are a lot more.  

When you get into the 12-50 unit sizes, I see those primarily with local brokers like KW Commercial. Some appear on the MLS in this size.

Unfortunately, there is no one stop shop to get all the listings.  I do not believe CBRE posts anything on Loopnet.  My local Cushman brokerage does, but nearby city Cushman posts on Crexi.  At the end of the day though, you need to meet with as many brokers as possible and get on their lists, and keep the relationship alive that they think of you when they are getting a listing.  While I do not believe Loopnet is the place where all listings go to die (a common sentiment you will hear) there are times when that seems to be true.  Like anything, your best deals will be coming to you directly from brokers and sellers, typically.