Apartment Buildings For Sale by Owner: 3 Great Ways To Find Deals
When hunting for good commercial real estate deals, one great method is finding apartment buildings for sale by owner. You can save a commission, get access to proprietary information that some agents hold back, and you will be in control with negotiations.
Most apartment owners do not have experience with marketing and the apartment building deals can be hard to find. If you know where to look, you can have the best of all worlds.
In this article, I will discuss the 3 best ways to find off market multi family property for sale.
3 Great Ways to Find Apartment Buildings For Sale By Owner
1. Loopnet – You have probably found loopnet and done a fair share of searching for apartment complexes for sale on there. There are a ton of deals and lots of information which can help you in your real estate business. Most owners who list property for sale on loopnet, are testing the market. They want to see if they can find a buyer who will pay more for their property than it is worth. Since you are not interested in paying more for a property than it is worth, the better way to use loopnet is for building your database. By searching for apartment complexes in your market you will run into sellers who are serious about selling and can be creative. You will just have to weed through a bunch of sellers to find the right one. The best way to do this is to send a message to 100 owners or so. Let them know you buy apartment buildings in your market via email. They will reply with an answer to your questions. Now, you have their email address. Search “mail chimp free” on google and you can have a mass email system for free. Plan to send the owners in your market an email once per week with good information about the market, your company, or ways to increase net operating income. Over time, you will develop relationships with owners and will be the first one they think of when they are ready to sell their apartment building by owner.
2. Craigslist – Most people are not aware that craigslist is a great way to find apartment buildings for sale by owner. They know it’s out there, they just don’t know how to use it. Like google, there is a search box. Use good keywords like “apartment building”, “apartment buildings”, “apartment complex”, “commercial property”, “commercial real estate”, “multi family”, etc. Don’t worry about using keywords like “for sale” because that is already implied by the seller when they enter their building into the ad.
3. ProspectNow – This is a paid service, but a great value at that. For under $100/mo you can get access to a whole county worth of commercial real estate and multi family apartment building data. They promise a 70% success rate on correct phone numbers. If you have 1,000 apartment owners in your county of choice, you can call 700 of them as fast as you would like. It also includes a customer relations manager (CRM) so that you can take notes, set appointments, and set followups while you are making calls. The most successful commercial brokers use this system to get listings.
Now, you can get your own deals direct.
[...] Truth – There are more than enough deals to go around, particularly in a down market. Commercial property is highly dynamic. Corporations thrive, they fail, they outsource, they downsize, they lease, they sell, they buy, they die, they retire, they re-locate, they rehabilitate, you get the point. You never know when or why a seller is motivated to sell, you have to have a great system of marketing to them in order that they call YOU when they’re prepared to sell. You can learn more about how to find sellers at my article about finding apartment buildings for sale by owner. [...]
[...] Truth – There are more than enough deals to go around, particularly in a down market. Commercial property is highly dynamic. Corporations thrive, they fail, they outsource, they downsize, they lease, they sell, they buy, they die, they retire, they re-locate, they rehabilitate, you get the point. You never know when or why a seller is motivated to sell, you have to have a great system of marketing to them in order that they call YOU when they’re prepared to sell. You can learn more about how to find sellers at my article about finding apartment buildings for sale by owner. [...]
[...] Truth – There are more than needed deals to go round, especially in a down market. Commercial real estate is intensely dynamic. Firms prosper, they fail, they outsource, they downsize, they lease, they sell, they buy, they die, they retire, they re-locate, they rehabilitate, you get it. You never can tell when or why a seller is ready to sell, you just have to have a great system of promoting to them so that they call YOU when they are ready to sell. You can discover more about finding deals at my article about finding apartment buildings for sale by owner. [...]
[...] Truth – There are more than enough deals to go around, particularly in a down market. Commercial property is highly dynamic. Corporations thrive, they fail, they outsource, they downsize, they lease, they sell, they buy, they die, they retire, they re-locate, they rehabilitate, you get the point. You never know when or why a seller is motivated to sell, you have to have a great system of marketing to them in order that they call YOU when they’re prepared to sell. You can learn more about how to find sellers at my article about finding apartment buildings for sale by owner. [...]
[...] Truth – There are more than needed deals to go round, especially in a down market. Commercial real estate is intensely dynamic. Firms prosper, they fail, they outsource, they downsize, they lease, they sell, they buy, they die, they retire, they re-locate, they rehabilitate, you get it. You never can tell when or why a seller is ready to sell, you just have to have a great system of promoting to them so that they call YOU when they are ready to sell. You can discover more about finding deals at my article about finding apartment buildings for sale by owner. [...]
[...] Truth – There are more than sufficient deals to go around, particularly in a down market. Commercial real-estate is extremely dynamic. Companies flourish, they fail, they outsource, they downsize, they lease, they sell, they buy, they die, they retire, they re-locate, they rehabilitate, you get the idea. You never can say when or why a seller is needing to sell, you have to have a great system of selling to them so they call YOU when they’re prepared to sell. You can find out more about marketing at my article about finding apartment buildings for sale by owner. [...]
[...] Truth – There are more than needed deals to go round, especially in a down market. Commercial real estate is intensely dynamic. Firms prosper, they fail, they outsource, they downsize, they lease, they sell, they buy, they die, they retire, they re-locate, they rehabilitate, you get it. You never can tell when or why a seller is ready to sell, you just have to have a great system of promoting to them so that they call YOU when they are ready to sell. You can discover more about finding deals at my article about finding apartment buildings for sale by owner. [...]
[...] Truth – There are more than sufficient deals to go around, particularly in a down market. Commercial real-estate is extremely dynamic. Companies flourish, they fail, they outsource, they downsize, they lease, they sell, they buy, they die, they retire, they re-locate, they rehabilitate, you get the idea. You never can say when or why a seller is needing to sell, you have to have a great system of selling to them so they call YOU when they’re prepared to sell. You can find out more about marketing at my article about finding apartment buildings for sale by owner. [...]
[...] Truth – There are more than enough deals to go around, especially in a down market. Commercial property is extremely dynamic. Corporations flourish, they fail, they outsource, they downsize, they lease, they sell, they buy, they die, they retire, they re-locate, they rehabilitate, you get it. You never know when or why a seller is needing to sell, you have to have a great system of promoting to them so that they call YOU when they’re ready to sell. You can learn more about marketing at my article about finding apartment buildings for sale by owner. [...]
[...] Truth – There are more than enough deals to go round, especially in a down market. Commercial real-estate is extremely dynamic. Corporations flourish, they fail, they outsource, they downsize, they lease, they sell, they buy, they die, they retire, they re-locate, they rehabilitate, you get it. You never know when or why a seller is motivated to sell, you just have to have a great system of marketing to them in order that they call YOU when they’re ready to sell. You can find out more about finding deals at my article about finding apartment buildings for sale by owner. [...]