| Lead Generation is at the heart and soul of any | | | | even bother to pick up the phone to call then how |
| business and it is no different with multifamily | | | | serious are you? You should call the broker and say, "I |
| apartment investing. Are you at a loss as to how to | | | | saw your listing on Can you tell me about it?" |
| track down sellers of multifamily properties? There are | | | | After the broker tells you about it, then you say "that's |
| five solid resources for finding motivated multifamily | | | | not exactly what I'm looking for. Let me tell you what |
| sellers. These five sources are direct mail, brokers, bird | | | | I'm interested in." Now you can tell him precisely what |
| dogs and other venues. | | | | you are looking for. The more precise and the more |
| Of these five resources, direct mail is the most | | | | knowledge you convey, the more confidence you will |
| effective technique. This simple technique involves | | | | build in that broker that you are a serious buyer. |
| mailing letters to owners of multifamily properties in | | | | is also a resource for finding motivated multifamily |
| your target area and asking them if they would be | | | | sellers. Once you find a multifamily apartment property |
| interested in selling. | | | | on Loopnet.com, you can call the seller up and |
| The wonderful thing about this technique is that you | | | | negotiate. You can ask for the financials and see what |
| can employ its use in other cities. If you are going on | | | | is missing. If anything, is a great place for you to |
| vacation, you can find all of the people in that city who | | | | "practice" negotiating with multifamily sellers. |
| own apartment complexes in your hometown and | | | | The fourth resource for finding motivated sellers is the |
| then send them a letter asking if they are dissatisfied | | | | bird dog. The bird dog is someone who is out hunting |
| with their multifamily property and let them know that | | | | deals. Their goal is to find something that looks like a |
| you would like to buy it. Let them know when you will | | | | deal and then they hand it to you to do the work. Bird |
| be in their city and when you would be able to meet | | | | dogs are informal brokers who scour the market for |
| them. | | | | deals and then match the deals to buyers. The fifth |
| The second resource for finding motivated sellers is | | | | resource, "other", is basically a catchall for all other |
| brokers. Probably the easiest method of finding | | | | types of resources in finding multifamily investing deals. |
| brokers is through You can get very specific about the | | | | A few of these resources are estate attorneys, |
| type of property that you are looking for. You can | | | | Laundromat service operators, plumbers, property |
| enter a zip code with a price range and it will give you | | | | inspectors and insurance agents. |
| a list of all those multifamily apartment properties that | | | | These five resources offer you great opportunities for |
| meet your criteria that are on the market. | | | | attracting and getting in touch with multifamily sellers. If |
| When you are looking at the properties, some of them | | | | you utilize these resources you will have multitudes of |
| will have brokers. You can get the broker's name and | | | | potential sellers at your disposal. |
| call him. Do not email the broker. If you are not going to | | | | |