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Updated over 5 years ago,
How to buy big multifamily properties
I have this issue I have lots of buyers for 10M+ apartment complexes in my area and we have only 1 20+ unit property for sale in the southern half of the county. It got over 10 offers in the first few days. This has forced me to try and source off market deals for my clients I have convinced a few apartment owners to sell but they only want to sell conditional on 1031 exchanging into a new multifamily. The problem is there is nothing for them to 1031 into. I really don’t know what to do other than keep marketing for off market deals. Anyone have any advice on how I should proceed?