Who would have access to multi-family properties that are about to go to market but haven't been listed?
Interested in finding multi-family properties for sale before they are listed and brokers are involved. Does anyone know who would have access to this information, besides the seller obviously?
[{"id": "cfpioqo", "text": "There really isn't space between \"for sale\" and \"listed with a broker\" unless you're looking at FSBO's.\n\nKnock on some doors, find a local investment club, or engage the services of a broker...", "replies": [{"id": "cfqf1ln", "text": "I'm getting the sense it's not what you know, but who you know. I had assumed this was most likely the case, but I wanted to see if there were resources available, even for a price, where this information might live. Thanks for the reply.", "replies": [], "depth": 2}], "depth": 1}, {"id": "cfpj59h", "text": "There isn't an answer for this...  Best thing to do is to network with sellers, brokers, property managers, etc. and let them know you're actively looking.", "replies": [], "depth": 1}, {"id": "cfpzqt2", "text": "Brokers you build a good relationship with will share their off market deals with you, any reason you don't want them to be involved?", "replies": [], "depth": 1}, {"id": "cfq1ss6", "text": "Agreed. not a very clear answer to your question. Best thing to do is network. From my experience I've never had much luck with clubs, mixers, ect. Find a good commercial agent and let them know your intentions. Last commercial prop that I obtained was from a man that I became good friends with over the corse of 3 years. Held the note at 0%...10years...I'll own it. Not bragging just emphasizing the point about 'it's who you know.\"", "replies": [], "depth": 1}, {"id": "cfq485c", "text": "You need to have a solid network of brokers you can \"rely\" on to give first dibs on something good about to come on the market.", "replies": [], "depth": 1}, {"id": "cfq78z0", "text": "If there is a specific market you like, find some properties you like in the area, pull up the tax records and cold call the owner directly.  They may not be actively marketing, but most anyone will entertain an offer.  I've had that work a time or two, but it's not very efficient.  Like most have already said, make friends with brokers and if they know your active they can feed you off-market deals.\n", "replies": [], "depth": 1}, {"id": "cfql1eb", "text": "I'm a broker that mainly works on off-market deals like this and I've written a few articles that might help you out (URL below). A couple tips:\n\n1) If you're going to network with brokers, don't treat them like waitresses or try to hit 10000 brokers and tell each one you're serious about buying. Pick a few that you know are active and have the most market share and stay in front of them constantly.\n\n2) A lot of sellers these days don't understand the benefit of exclusively listing their property on the market. Their understanding is that if they just tell dozens of agents about it, eventually those agents will tell their buyers and generate offers. It's like shooting themselves in the foot, but this works to your advantage as a buyer. Mention to your brokers/agents that you're willing to write an offer to help them get a listing. Sure, you won't get a ton of awesome deals right away, but that agent's going to call you every time he's about to go on a listing presentation and you're going to see deals BEFORE they hit the market. \n\n3) Read this article: http://www.verdugoproperties.com/blog/finding-off-market-multifamily-deals/\n\nHappy Hunting!", "replies": [{"id": "cfqpl6a", "text": "Thanks for the article and the advice, much appreciated.", "replies": [], "depth": 2}], "depth": 1}, {"id": "cfr2ivs", "text": "Are you looking for assets in specific markets, with specific cap rates, etc?", "replies": [], "depth": 1}, {"id": "cfradlm", "text": "There is no silver bullet here since everyone the seller knows could possibly know.  Good targets for networking could be attorneys, accountants, bankers, property managers.  Anyone who provides services to owners is a possibility.  I think tax accountants are the best since tax implications are one of the first questions that should come up when considering a sale (before brokers even).", "replies": [], "depth": 1}, {"id": "cfvwvl0", "text": "Owners, lawyers, title companies, bankers and appraisers.", "replies": [], "depth": 1}]