In this episode of the Heartland Multifamily Show, you’ll learn three strategies to help you get the best multifamily property, no matter the state of the economy or your location in the country. By following these strategies, you too can find the perfect multifamily property to invest in. These strategies have been tried and tested by the most successful multifamily property investors, and I’ve used them myself.
Strategy 1: Find a Great Multifamily Property Broker
The first strategy is to find a great multifamily property broker who you can work with. A good broker has extensive knowledge of the local market and can help you find the best properties.
If you don’t know how to find a good broker, start by asking for referrals from other investors in your area. You can also search online for brokers who specialize in multifamily properties. When interviewing potential brokers, be sure to ask about their experience and success rate. A regular real estate broker isn’t going to give you the results you want, you need someone who specializes in multifamily.
Strategy 2: Look for Properties in a Specific Area
If you want to be an investor, you’re going to have to get some gum on your shoe. Go to an area that you want to invest in and talk to people. Go to the local tax assessor’s office and see what properties are on the market. Find properties you like and make offers. It’s extremely unlikely that you’ll get any offers accepted, but if someone is looking to sell a few months down the road, you’ll be the first call.
When looking for properties in a specific area, pay attention to factors such as population growth, job opportunities, and the quality of schools. These factors can affect the price for rental properties and with it, how much money you can make.
Strategy 3: Search for Properties Online
The third strategy is to search for properties online. There are many websites specializing in listing multifamily properties for sale, and you can use these sites to find properties that you think will make good investments. When searching for properties online, be sure to set up alerts for new listings in your target area. This will help you stay up-to-date with the latest opportunities.
To get a fourth, bonus tip, be sure to watch the video to the end!
Investing in multifamily properties can be a rewarding and lucrative venture. By following these strategies, you can find the best properties and position yourself for long-term success.
