All Forum Posts by: Kelly Farley

@Josh J. - I Sent you a DM.  Thanks for your willingness to share your insights.

@Jailen Holt It does have Remine, but I have not yet taken the time to learn it.  But I can assure you I will now.  I have heard some agents mention that its powerful, but they never mention how.  Great tip!  Thank you for the response!

@Jared Carpenter  I do not.  Do these products provide a function that allows someone to search for multi-family zoned properties? 

@Pat G.  That is really good information on the calling Assessors Office.  Love it!  What do you mean by "GA"?  Georgia?   Love the Google EarthPro tool as well.  I use Google Earth all of the time in my engineering job, but have never used Parley 2.0.  THANK YOU for these ideas. 

@David Monroe This is great information.  I actually called a title company (Chicago Title) and ask them that question about a month ago and was told that don't have that kind of information.  They are a huge company so maybe I'll call a local title company to see if they have that information.  Thanks for confirming my thoughts on this and giving it another go.  I would think they would want to sell the information.

@Luke Miller  Once I have an address, I do use S. of State site and County Recorders office.  I should have been more clear.  How to I get addresses of apartment buildings?  I called title company to see if they sell lists, they don't.  Is there a service that you are aware of that sells this information since I would think its public records due to zoning.  Just trying to get creative about finding this information to save me from just driving around aimlessly. 

@Vincent Popovski what type of systems do you use?  I live in the Chicagoland area and find it almost impossible to drive all of the areas to take note of apartment building addresses.  I would think there is an easier way, even if I have to pay for the information.  It is worth the time savings to me.  I would rather focus on high value tasks and purchase a list. 

@Anastasia G. Great idea.  Yes, I agree with you, I am big on relationships.  If I wasn't able to connect with the widow I bought my first two buildings from, it wouldn't have happened.  It just so happens that I wrote a book about grief and formed and authentic connection with her.  I'll always be grateful for her trusting in us to close.

Do you subscribe to any mailing lists?  I would think that is some sort of service out there that has these multifamily building addresses in a data. 

Looking for suggestions/recommendations for locating mom/pop owned multi-family apartment buildings.  Can you purchase lists of these owners?  If so, do you recommend a reliable source?  Any other resources for finding owners?

I purchased my two 9-unit buildings in 2018 from mom/pop owners and it has gone very well.  Bank financed one of the buildings and owner financed the other.  I located these through a friend of mine that knew the elderly owners.

Just looking for tricks/systems that have worked for you.  Since buying my buildings, I've sent out letters to other building owners near the two I purchased with great response.  I have a lead on another elderly owner with 10 doors that he wants to move within the next 18 months.  However, I am in the market for larger deals.

All input greatly appreciated.  Thanks 

@Omar Khan, thank you for your input.  All great points.  How wide of a spread do you typically use between bank/owner financed?  I want it to be enough for them to seriously consider it but not to much to where I will be overpaying.

I feel the relationship is solid with all three.  They are not in a hurry but would like to close 1st quarter of 2018.  I will be able to see inside of 2 of the units tomorrow.  They have been very cautious not to let existing tenants know they will be selling the buildings.  Exterior has been very well maintained.  I like the fact they were built in 1984 so I should have to worry about asbestos/lead issues. 

Thanks for the encouragement!

Kelly