Looking to Learn about Apartments

[Scott McPherson]

Hey BP Community I am looking to connect with Buyer and Sellers of Multifamily Apartments and learn more about how to source Apartment deals.  I am new to this space and would like suggestions of how to go about finding Apartments for sale?  Does skip tracing work for finding Apartment sellers?  I would love to speak with anyone with experience in this area.  Thank you.

[Jeffrey Donis]

Hey Scott! 

Skip tracing does work- Real Estate is a number games of course- however the larger the asset the less likely that the sellers will sell market. The sophistication of sellers tends to increase as the number of units goes up. Mom and pop owners are what you are looking for and they tend to own smaller units. So yes, direct to seller works- the success rate in my experience and from people I have spoken with goes down as the number of units goes up. A great way to find deals is by building relationships with brokers in the areas you are interested in. This is how we find our deals and we focus on larger assets.