All Forum Posts by: Alvin Grier

I was listening to a real estate podcast the other day, and they mentioned a method of finding potential "motivated" apartment sellers that I hadn't heard of before;

The guy said to buy a list of people that bought their multi-family property 10 years or more ago.

That makes sense, but I have two questions about that approach:

1. How do I figure out how far back to go? 20 years? 30?

2. Is there a way to figure out if the people still own the property or not? I'd hate to spend money on a campaign, only to find out that 80% of the people on the list don't own the property any more.

I guess I could run a check on each property in the list against local tax records, but that would take forever, depending on how big the list is.

Just wanted to get some insight from you guys on this one. Thanks in advance for your feedback!

Here's some good info on verifying the rent roll:

http://ublog.naiglobal.com/blog/2010/10/28/acquisitions-confirming-the-rent-roll/

Awesome info. Thanks for your time. Nice website, by the way.

By the way, do you avoid two-pipe systems because the temperature has to be either hot or cold in the building?

Awesome! Thanks for the feedback!

We have decided to transition into adding apartment wholesaling to our business services.

When investor's contact us, however, it's important that we gather all of their buying criteria.

So far, this is what we know to ask:

Preferred areas, desired cap rate, amount of rehab they want to take-on, the number of units they're looking for, the value-add opportunities that they prefer/like, whether they plan on buying their next deals with cash or financing, and the most they want to spend on a property.

Am I leaving anything important out? Thanks guys (and gals, of course).

Wouldn't I still need the report from the MLS so that I can identify the properties that have closing dates in the desired range?

Other than having a friend who's a commercial Realtor (who has MLS access), does anyone know how I may go about finding a list of people that have purchased apartments of 5-30 units in the last 90 days in two specific counties CASH?

No, they don't get a referral fee. Heck, I'm not asking for a referral fee for the leads I pass along to them, so I didn't think they'd need one either.

Perhaps the next go-round, we'll ask them up front if working recently expired listings is something they currently do; if they say yes, maybe I'll just move on to the next person.

The logic is that since their listing expired, there's a greater chance that the home owner might now be a MOTIVATED seller; and as a result they may be willing to sell at a lower price than what it was listed for.