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Apartment Complexes For Sale |
NewinMemphis
3 Posts
Member Since: 07/07/2007
Hickory Hill, TN
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Posted: 14:36 on 07-12-2007
What's the best way to find complexes that are for sale? I am familiar with residential, but have no knowledge of commercial?? Please help.
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richnathan
59 Posts
Member Since: 06/28/2005
Salt Lake City, UT
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Posted: 14:54 on 07-12-2007
A great source of deals is taking the commercial agents out to lunch, let them get to know you. They will probably have some pocket listings. They typically keep a database of buildings in the area that may possibly think of selling. If they find something that you are looking for, they can approach the owner and convince him to sell. Many of them in the 12-50 range will sell this way before they are listed for sale. (At least in this area) That sucks for us too, because if they are listed on the market, most of the savvy investors have already passed on it. At that point it may be a marginal deal. Apartments become great stable investments overtime, so many owners have owned them a long time and don't really want or need to sell.
That is a good place to start. Call a local commercial brokerage or surf on loop net . com
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cjmazur
4284 Posts
Member Since: 07/23/2003
Cupertino, CA
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Posted: 02:04 on 07-13-2007
most commercial brokerages have a practice specializing in MF.
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ceinvests
686 Posts
Member Since: 11/13/2003
Locust Grove, VA
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Posted: 14:25 on 08-25-2007
Any interest in Danville, VA?
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bllny
2 Posts
Member Since: 01/31/2007
Sparrow Bush, NY
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Posted: 08:26 on 09-05-2007
Quote:
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On 2007-08-25 14:25, ceinvests wrote:
Any interest in Danville, VA?
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my mother lives there. so you have mutli-family house down there?
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seabuscuit
74 Posts
Member Since: 08/26/2007
Redding, CA
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Posted: 19:24 on 09-08-2007
I like the three prong method of finding listings. First, meet with commercial listing agents, then one or all of the main three big listing web sites, ( they will block them if I post, sorry ) lastly, go drive to areas or specific listings in your area and dig around, make friends, ask questions. This last way sounds ineffeciant but it's amazing what you find when your out looking around in the world stiring things up.
I do commercial financing, if you have funding questions or comparisons contact me.
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MrsRealEstate
4 Posts
Member Since: 09/24/2007
Memphis, TN
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Posted: 22:21 on 09-24-2007
I am in the Memphis area. Where are you looking?
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d_random
1295 Posts
Member Since: 11/09/2004
Greensboro, NC
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Posted: 12:21 on 09-26-2007
http://www.L00pnet.com
with 'o', not zeros.
[ Edited by d_random on Date 09/26/2007 ]
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joblo
70 Posts
Member Since: 05/08/2007
Hillsboro, OR
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Posted: 18:13 on 01-05-2008
What about doing a direct mail campaign to owners of multifamily properties? Apt. buildings that are less than 50 units will be more likely to not be professionally managed. Cross reference that list of owners with records for evictions, and you may have a good list of potentially burned out owners who are motivated to sell. If you can find an efficient way to make this list, it seems like it has potential.
Anyone try something like this?
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cjmazur
4284 Posts
Member Since: 07/23/2003
Cupertino, CA
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Posted: 10:20 on 01-07-2008
I don't follow what does professional management have to do with it?
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joblo
70 Posts
Member Since: 05/08/2007
Hillsboro, OR
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Posted: 15:28 on 01-07-2008
Hehe, sorry cj. My assumption is that an owner managing his/her own property, and facing the stress of non-paying tenants, evictions, maintenance calls, etc, will more be more likely to be motivated to sell at a lower price just to get out of the property. I'm not justifying these assumptions, just throwing them out as a possibility to see if anyone has done something similar with positive results.
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