Direct Marketing for Multi-Family

[Martin Woll]

Hi BP Community,

I am a real estate investor (newbie) looking to buy a multi-family building (2-4 units) in the NYC area including Brooklyn, Queens, Bronx or surrounding areas. I intend to live in one of the units.

I have been thinking about using some direct marketing campaigns to source some deals. I have a purchase price range of what I want to pay. Does that mean direct marketing would be a bad idea since my purchase price is bounded? For example, what happens if I find a deal that I couldn't afford or just didn't have the financial resources to pull it off? I know that isn't necessarily a bad idea to have a good deal. I have a feeling some of you might say if you get a great deal I can look for partners or try to wholesale it. I work full time so I don't have all the time in the world. And I am also wanting to do the first deal on my own to start building a track record (even it is only one deal).

All and any thoughts and critiques are greatly appreciated.

Thanks,

Martin

[Jonathan Makovsky]

Hi @Martin Woll , 

The worst problem you should have in life is to figure out what to do with a good deal. Worst case scenario: You have a good deal, you don't want to bring in partners, and the deal falls apart. It's better to do that, than not try at all.

Also, depending on where you are finding leads, you can sort by price range (e.g. Listsource).