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Updated over 4 years ago on . Most recent reply

Account Closed
8
Votes |
22
Posts

Best website for residential multi-unit (40+) complexes for sale?

Account Closed
Posted

Our company has transitioned over the past 5 years from fix and flipping 3 to 16 unit buildings to fix and flipping/acquiring undervalued and neglected 40+ unit complexes for forced equity appreciation through renovations and rent adjustments. Generally in the price range of 4$ to $5 million and above. We have found 2 decent projects through loopnet and zillow before but it seems like Zillow is more for the average person selling or buying a house and loopnet is mixed up with a lot of industrial buildings and offices which is not our niche. Is there a better website that specifically caters to bigger investors to acquire big residential complexes ? I covered my entire state on loopnet and couldn't find a good deal and most of them were small. 5 to 6 % CAP rate won't cut it for us. We aim for 7.5%- 10 % with room for forced equity growth. Which is hard to find (but not impossible) in Massachusetts and Rhode Island where we do business. Any input is appreciated.

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