I've been told that letters aren't the most effective way to contact owners of large apt. complexes.Supposedly, the best way to get into the loop and have the first crack at purchasing larger multi-family properties before they hit the market is to (1) network with commercial real estate professionals such as Scott the CCIM (2) join commercial real estate organizations such as the IREM, BOMA, NAA, and ICSC or befriend individuals that are members (3) approach a property owner in the flesh and (4) network some more.You agree Scott?

I've been reading a bunch of the discussions where the 50% rule has been brought up.

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What sucks is that I live in the People's Republic of Illinois and we can't carry and conceal.Now, having said that, when I have gone into more "challenged" neighborhoods, I have brought a "deterrent" with me.

If the owner is still in the house our strategy is to approach them directly, treat them with respect, and have a candid conversation about the situation.

House is in very good condition with only expenses are appliances, replacing the carpet in 2 bedrooms to hardwood floors and transfer taxes (no back taxes even)...As said, as a first time home buyer not sure this is the right approach (to buy without CO and related consequncies) and looking for advise here from the investor community.

In my quite limited experience, yard signs (the generic kind) have brought lots of phone calls, but all my actual tenants have come because of free ads on Craigslist.

While bankers can not generally talk to you about the credit report they pull, there is nothing stopping them from talking to you about the one you brought in.

I'm a broker and I mainly work with investors and I've been approached by them asking about these deals.

In their approach, they agree with the tenant buyer on a purchase price up front.