Multifamily Investor looking to build teams in multiple markets

[Ned Young]

I am Multifamily investor that lives in the DMV area. I am looking to invest in my local area as well us a couple of target markets in other states where I have boots on the ground. I target properties of 20+ units in NC and FL. I am a value add investor with access to deal-flow in the above-mentioned areas, but I need to build solid teams to take down the assets that come through my pipeline. I love meeting like minded individuals that are serious about the business and are actively trying to grown in the commercial real estate business. 

[Michael Sjogren]

Welcome @Ned Young! Do you have any connections in these additional markets? If not, you can go to Loopnet and look for listing in those markets. The purpose of this isn’t necessarily to find deals (since Loopnet is typically the trash can for deals) but to find brokers who have multiple listings that match your asset type in those markets. Call up the broker and tell them about your business, current assets and what you are looking for in that market. Then ask them for referrals for property managers who specifically work on assets that meet your investment criteria. Call up any of the property managers recommended and explain your background again. Ask them for referrals for additional brokers as well as mortgage and insurance brokers. Follow up with those contacts. Once you have a database of recommended team members, schedule a few days to fly down to your markets and meet with each of these team members and view some properties.

Another approach is to partner with investors who already have multiple properties in those markets and bring capital or other resources to those deals. I have found this approach to work well especially in highly sought after markets where it can be difficult to get a foothold as an out of area investor. Happy to discuss further. Feel free to send me a PM.