Best way to find 5+ unit properties off market

[Ijeoma P.]

Hi friends,

New investor here. I am ready to invest in a multifamily property 5+ but having trouble finding deals...looking in various markets in GA, TN, FL, PA and OH. I've figured out my finding strategy, networked with brokers and realtors a couple of wholesalers, checked available sites on my own and no dice still after two months. What am I missing?

R,

Ije

[Steven Nguyen]

Hello Ijeoma,

All the good deals are found OFF market and are typically created.  If you are well known and brokers know you can close, you can get pocket listings from brokers, but that is hard if you are a newer investor.  I am struggling with this same issue right now.  Brokers don't like to waste time and typically bring their best deals to people who can close.  The best way is to surround yourself with an experienced team and leverage their "clout."

I've been targeting AL and OK for 3 months and have made at least 10 offers, but still have nothing.  I am targeting 5-100 units with value add potential.  Multi-family has a high barrier to entry, but just 1 good deal can drastically change your life.  It just takes persistence and patience.

I hope this helps.

Steven