With over 8 million people, there are plenty of opportunities to spot bargain apartment buildings for sale in NYC.  The key to finding a good deal is making lots of offers.  With a population this large and a huge demand for housing to meet the need, there are more than enough apartment building deals to go around for every serious investor.  In this article, we are going to discuss the three top ways that commercial brokers and investors find sellers that are motivated to sell now which creates a platform for you to pickup properties at a good price.

1.  County Clerk of New York County – At your local court house you will find motivated sellers every day.  Finding apartment buildings for sale NYC takes a little more work because it is a niche.  At the courthouse, you will find public records of owners who are facing foreclosure, divorce, bankruptcy, evictions, probate, health and safety issues, tax evasion, and more.  Since all of these cases are public record, you can go down to your NYC court house and find out which apartment building owners are facing these situations.  You can introduce yourself to them and hand them a business card while explaining what you do or you can call or mail them.

2.  Calling – You can also grab tax data from the courts.  Compile a list of all of the taxpayers on multi family properties.  These are most likely the real owners of the buildings.  Add this info to your database and then go to google, superpages, or other social media sites to find phone numbers for each of these owners.  Now, call each of the owners to let them know you buy apartment buildings for sale NYC.  You don’t have to pressure them.  You don’t have to pester them.  Call them once a quarter and let them know what you do.  You are looking for motivation.  You are not looking to create a deal with every call.  You are looking for the owners who NEED to sell, not want to sell.  If someone just inherited the property, is getting forecloses on, is getting a divorce, just had too many tenants move out, or any other motivating reason to sell NOW, you can be their hero and get rid of their headache.

3.  Mailing – With that database you are building, make sure you have the mailing address for each person and entity that is on the tax record.  You may have several partners on one building and you do not know who the main decision maker is, so it is best to mail to all of them.  Mailing is the quickest way to get your message out to the masses.  It is also fairly expensive.  You will likely spend between 50 cents and one dollar for every mailer you send.  If you send out 1,000 per month that is $500-$1,000/month towards your mailing campaign.  That is the downside.  The upside is that if you do send out 1,000 per month, you will probably get a great deal every month.  Depending on what your plan is with the property, you could profit tens of thousands or maybe hundreds of thousands of dollars off of one deal.  It is well worth it to send mailers, but if you have less money and more time, the other strategies may be better.  When sending out your mailers, send at least one per month to each owner.  Let them know you buy apartment buildings for sale in NYC and also send them something of value whenever you can; like a rent survey.

The main idea behind these three methods of finding motivated sellers is to get the word out to every seller that you buy apartment buildings.  This will take consistency and some money.  The best commercial brokers and investors use these strategies on a regular basis and they get deals on a regular basis.  If you make them a part of your repertoire, you will get good deals.
I hope you give these methods a try. They are foundational to most successful commercial real estate entrepreneurs business models. In fact, I use these methods to source deals for my clients. If you are not in a position to take these steps, you want to learn more about these methods, or you are looking for another deal source, you may want to join my buyers list. My subscribers get priority access to good deals on apartment buildings for sale that I find as well as education on what makes them good deals so that they can use these tools in their market on their own deals they find. I help my investors understand the analysis I ran to spot upside and opportunity. I also work with my subscribers on deals. If you find a good deal, let me know, I may have a buyer. I do deals around the country and I may be able to help you on a personal level to find Apartment Buildings For Sale NYC that are off-market or listed at a good price.

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