All Forum Posts by: Account Closed

Hello,
I'm wondering if anyone can recommend a good strategy for finding good off-market or non-MLS deal flow, particularly in the small-medium size multifamily space. Or potentially there is a recommended BP thread on here about this that I have failed to find. Thanks!

@Scott Schultz
This makes sense--thanks for the follow-up and further clarification! I appreciate it.

Hello,
Can anyone recommend a good investor focused real estate broker in the Madison, WI area? Also, does anyone recommend any good strategies for sourcing off-market or non-MLS deals in the area? Thanks!

@Jorjio Hopkins 

Yes, I am a UW alum as well. Thank you for introducing yourself and for your advice--much appreciated! Go badgers!

Yes, I have done REI this way in the past but as I scale up my portfolio and gain more property searching/offering experience, I figure Buyer's Agents fees (3%) can add up (without a whole lot of value-add towards the deal on the buy-side). I also want to rank properties, at scale by their cap rates over a large geographic area and my agent's email notification feed is generalized and unprocessed so it is rather cumbersome to keep track of deals and how they rank over time as new deals come on the market. But a smaller market like Madison, especially in 2-4 unit multifamily, the dealflow is semi-managable.

@Keith Schulz
Thank you for introducing yourself and for extending yourself--messaged.

@Scott Schultz
Thank you for the advice. I have seen Realtor.com before, but I like Homesnap better (https://www.homesnap.com/) given that it has rental information, and I'm an investor. I also would like to, at scale, analyze listing data and sites like Realtor.com or Zillow or Homesnap don't allow this with their terms of service (through data-scraping).

@Steven Kleppin
Thank you very much for the references! I am mostly interested in 2-4 units for the time being as I am a greenhorn, but I will keep these in mind as I scale up to larger properties. Good note about brokers having rent rolls--this is great to know.

@Chase McArthur
Thanks! Definitely great advice.

@Chase McArthur

Yes, I thought the same. If you listen to this podcast by the founder (http://nathanlatka.com/thetop469/), they were paying ~$6000/mo to source their MLS data through ListHub (an MLS partnered company) and had no revenue (only RE-agents who signed up in hopes that investors/users using the site to look at deals would see a property on the site and make an offer on it to an MLS seller's agent--i.e. a referral fee). The site is promising, but it is limited to SD and doesn't seem to be profitable (not sure why because it seems like it could be useful to investors given my premise for this thread). I'm not sure the solution is 10x better than using a well-versed investor/realtor, but it could allow for a cheaper deal with no agent fee if the investor is willing to make an offer without a buyer's agent.

I definitely hear you though on the data monopoly, and I appreciate your wisdom here.

@Chase McArthur Thank you very much for your reply. I appreciate your input and extended help.

I'm thinking of a site like Revestor

(https://www.revestor.com/) to start, but outside of San Diego.

What is the best way to obtain up-to-date multifamily listing and rental/lease data without having direct access to the MLS?

Hello All,

Does anyone recommend an all-in-one investor dashboard/software for sourcing and finding deals, aggregating relevant data about specific properties (current owner, T-12 rental history, current lease amounts/dates, nearby hyper-local features (hospitals, Walmarts, demographic/census, etc.), ranking by cap-rate/cash-flow, rental estimates, and/or evaluating/forecasting/under-writing properties? It would be nice to be able to quickly monitor investments in a particular geographic area and see all of the relevant investment information in one place as well as relevant forecasts in cash flow and appreciation. I am willing to pay if this exists. I am interested in both MLS and non-MLS properties.

I am also not part of a brokerage, so I do not have direct access to MLS data (although I know you can purchase it from places like ListHub, CoreLogic, or FirstAmericanTitle or view it on sites like Homesnap or brokerage websites).

The only current direct solutions that come to mind are Mashvisor.com, Reanomy for CRE, or HouseCanary if you are a registered agent.

Otherwise, I suppose one can use sites like Roofstock or HomeUnion to rank and find investment deals. But the supply on their sites seems rather constricted compared to the MLS and biased towards SFH.

My rather archaic alternative is to simply monitor Homesnap and Zillow closely with an Excel spreadsheet and hope I can catch deals as they go by and gather all of the other relevant information from other sources. But this is incredibly cumbersome. There is also working with a respectable Buyer's Agent, but I have found them to be limited to specific zip codes in a particular market (small areas) or not knowledgeable in investing at all (no offense). They also take 3% commission which I'm looking to avoid if possible given the movement towards flat fees and refunds.

Thanks for the help!
John