How do you find multi-family real estate deals
especially in a market the inventory seems to be incredibly short?
Every time you go online or every time you talk to a broker, it seems like the deals are gone.
Is there a way to actually find multi-family real estate deals in this market today?
In this video, I'm going to walk you through the 5 ways I find multi-family real estate deals
every single day. In fact, it's the very strategy I've used to land over 5 million dollars in
real estate in the last 12 month. I'm actually going to walk you through how to leverage the MLS
in a right way. How can you actually find deals on social media? Isn't social media completely
flooded and it's not a great place to find deals? And also, how to leverage the right groups so you
can shake loose some deals that other people are not going to be able to find. Also, what companies
could you partner with that are actually looking for deals for you, and then you're going to want
to wait around till tip number 5 because that's the tip I've used to find more deals than anything
else. Let's go. The very first strategy you can use to start shaking loose some multi-family deals
is by leveraging the MLS. Now, the MLS has some pros and cons especially when you're trying to
find multi-family real estate deals, which right now is a really sought after asset class so you
have to know how to use it correctly. One of the difficulties of the MLS is it has the most
competition, because you can sit down at your computer and find deals in a few seconds, every
other person in the country can do that. That's one of the difficulties with leveraging the MLS but,
it's not just the MLS you're after. A lot of people go to the MLS to find properties. I'm going to talk
to you about how to leverage the MLS to find relationships First, the MLS is the easiest deals
to access. As I mentioned, anybody anywhere can find deals at any time on the MLS. It doesn't make it
a bad source, it just makes it a crowded source. As one of my mentors used to say, "There's not one way
to find 50 deals, there's 50 ways to find one deal." And I want to walk you through as many as I can to
continue to put tools in your toolbox so anytime you want to find a piece of real estate, you're not
short on tools. And the MLS is one of those tools if you know how to use it correctly. Another
powerful tip about the MLS is its searchability. You can sit down at your laptop and find deals
in any market, any city, anywhere at the touch of a button. That's one of the powerful things about
the MLS. You can find the market you want, you can find how many units you're looking for, you could
find what price range you're looking for, what bedroom count you're looking for in multi-family.
Where in the country you're looking for? Not only where in the country but where in those cities?
If you're looking at Atlanta, Georgia, you can actually hone in on specific areas of Atlanta,
Georgia. That's the power of the MLS. It gives you the ability to direct where you search
and it just simply responds to your desires. You get to dictate what the MLS gives you.
Another powerful tool the MLS provides is when you partner with real estate agents, they can place you
on autoresponder so they can figure out what kind of property you like, where you're seeking to buy,
what your price range is and anytime a property hits the market, it'll send an email right to your
inbox so you can continually be on the front end of deals that fit the kind of deal you're looking
for. But one of my favorite ways to use the MLS is not to find properties, it's to find relationships.
I find the types of properties I'm looking for and then I find out what types of agents are listing
those properties. And instead of calling the agent and asking about this property only, I call that
agent and say, "What other properties may you have?" I'm leveraging the MLS not just for the properties,
but for the relationships of the people that are listing the kind of properties that I want to buy.
The 2nd tip on how you can continue to create a flood of multi-family deals to your door is by
leveraging social media. Social media still offers loads of opportunity to connect with people that
know where there may be deals that fit the kind of deal you're looking for. The number 1 place I
leverage inside of social media is Facebook groups and here's how I leverage that. I don't just go to
any Facebook group on real estate. I go to Facebook groups that not only are about real estate,
but are about the kind of real estate I'm looking for. There are specific groups around multifamily.
I like to join those groups and then, there's also a 2nd layer of groups. That 2nd layer
of groups is not just the kind of properties you want to buy, but it's also in the area.
There's area specific groups if you're looking to invest in Nashville, Tennessee, there's actually
Facebook groups that exist to connect investors inside of Nashville Tennessee. You can leverage
Facebook groups that not only put you right smack dab in the middle of all the kinds of properties
you want to buy, but also in the right area. So, not only can you leverage Facebook groups for the kind
of real estate you want to invest in, but you can target it by area and you can start connecting
with brokers and other investors that may be investing in that area. You say, "Why would I want to
connect with other investors? Aren't they going after the same deals?" No. I found a lot of deals
that don't necessarily fit the other investor's property profile. If they're looking for a property
of 100 units, I'm looking for a property of 10, they may push a property my way that doesn't
fit what they're looking for. So, connecting with other investors inside those Facebook groups,
and connecting with real estate agents and brokers is a powerful way to leverage social media.
And you can narrow it down by property type and area. The 2nd way you can leverage social media
is by actually running Facebook ads. Now, this takes a little bit more skill and a little bit
more investment on your part but come on, we're investors. That's what we do. You can actually run
Facebook ads direct to the types of sellers you want, in the areas you want, for the properties
you want, and you can let them know that there's a company looking to buy properties just like theirs.
Right now, there are loads of people that would like to sell their property but they really don't
want to go through the listing process, they don't want to meet with agents, they don't want to have
hundreds of people walk through their property. They don't want to go through the entire process
of listing it, signing contracts, they just would like to find somebody that would buy their
property. Well, what you can do in a Facebook ad is you can call out their pain. Maybe they're sick of
self-managing their property, maybe they're tired of actually having to go and answer every single
call that comes in. Well, if I create a Facebook ad that hits that specific pain, I can connect
with the types of sellers I'm looking for in the areas I'm looking for, for the types of property
I'm looking for in one simple Facebook ad. That's another powerful way to leverage social media
in order to put you in front of deals that other investors are not willing to invest
in. You may have heard the term, "The path of least resistance," well sometimes, humans, we take the path
of least resistance. And because this takes a little bit more money, by investing a little bit
more into your real estate business, you can step out from the competition and go after sellers that
nobody is going after. And the 3rd strategy to find a load of multi-family deals is by networking.
And I know a lot of what we've been talking about through the MLS and through social media is a form
of networking. But I'm talking about networking specifically treating a network like a business
and this is what I mean. There are groups like virtual meetups or even live meetups depending on
where you live in the country. And those groups meet every single month and their whole goal
is just simply to create connections between people that could serve each other. Meaning,
if you're looking for somebody who has private capital, maybe you meet somebody at a group that
has private capital and you bring the deal. Or maybe you have private capital but you're looking
for a deal and you find somebody at a group that has the deal and you bring the private capital.
The whole point is networking places you in a room with other people that want the same thing.
They want to leverage real estate to create wealth, but everybody has something that they bring to the
table and often, there's something that they're missing and that's why they're networking. They
might need more deals, they might need more money, they might need just a bigger network, they might
need to meet real estate agents. By you making sure you show up, this is a key piece of real estate
investment, is to show up in as many different places as possible that may put you in the path
of opportunity. And by networking at live meetups and virtual meetups, you can connect with people
you wouldn't connect with otherwise. You can find these meetups by just simply going to meetup.com
and you can search by the location of where you live and see what groups exist that would fit
what you're looking for. But another strategy is to look for groups that are in the areas you want
to invest in but are meeting virtually so you don't have to necessarily go there every month,
but you can connect virtually with other investors, other brokers, other agents, maybe people that have
private capital, hard money lenders and simply connect virtually in the city in which you want
to invest. Networking will change your real estate business and it will change your life. Some of my
greatest friends came through networking. Some of the people that I go out and have dinner with and
I hang out with are because I networked. But my business hasn't seen anything impacted like the
power of my network. The 2nd thing you can join is both national and local associations. There are
actually multi-family housing associations all over the country. You can join those, again, either
in the city you live in or in the city you'd like to invest in, and you can start connecting with
other people that may have a multi-family property but they're ready to sell it, or they may have a
property but don't have the private capital. But again, it's continually to strengthen your network.
If you want to find a flood of deals, let's start building that network. Now before I share another
valuable tip, I notice you haven't subscribed yet make sure you obliterate that subscribe
button and also turn on that bell notification so you get notified every time we put out a
video. Now, our 4th strategy is to partner with wholesalers. If you don't know what a wholesaler is,
a wholesaler specifically specializes in finding off market deals and connecting those deals with
people like you and me, people that are looking for deals. Wholesalers leverage things like Facebook
ads, direct mail, email marketing, bandit signs, radio ads, tv ads. They leverage all this marketing
to connect with people that want to sell their property. And then they take that property and they
find buyers like you and me and they connect those properties with us. Just a week ago, I connected
with a wholesaler in Texas that had a property in Atlanta. They were marketing heavily to Atlanta,
they surfaced a property and now we're in contact about that specific property and it's a great deal
that I found through a wholesaler. The good news is wholesalers are looking for you as much as you are
looking for them. Wholesalers are seeking to build 2 lists: their sellers list, those trying to sell
homes and their buyers list, you and me. Those that want certain kinds of properties. Now, one
of the ways to partner with wholesalers is call up a wholesale company and tell them the kind
of property you're looking for. Not only will they tell you what they have in their arsenal currently,
but it will also tell them, "This is a buyer I have looking for a specific piece of property," so they
can start marketing for properties like that and they can connect those properties to investors
like you. Now wholesalers are different than real estate agents. Real estate agents have a license
and have access to DMLS. They are often connecting with people that want to put their home on the
market, get as much money as possible and the agent will take anywhere from a 4 to 6 percent
fee for selling that home. A wholesaler will leverage marketing tactics, direct mail,
tv ads, radio ads, social media and they will find sellers that don't want to necessarily list on the
MLS, they just want to be connected directly with a buyer. And a wholesaler will take a very small fee
in order to make that transaction. And our last strategy, which is my very favorite, is partnering
with commercial real estate brokers and here's why. Commercial real estate brokers essentially
control the game when it comes to the awesome deals in multifamily because they have what they
call napkin or pocket listings. Now, what in the world is a napkin or a pocket listing?
These are listings they have "in their pocket" that nobody else knows about. It's
not on market, it's not on the MLS where everybody can search it, and they have a seller come to them
they take that property and they know they have a list of investors that they're going to connect
that property with. I have 3 or 4 brokers that are calling me constantly, "Hey, Mike. I just had
this deal hit, what do you think about this deal?" They send me over the financials, I underwrite
that deal but I'm seeing that deal before any other investors. So, when I say leveraging the
MLS to build relationships with brokers and agents is important, this is why. Because they
have so many deals that the world cannot see. It's just the investors that are in their back pocket
that they're gonna call first. My goal is that you are the first person that they call. Now, I have a
free gift for you. I've created the multi-family master class that will really walk you through
how to start busting into this game of multi-family so you can start building
your wealth. Make sure you click the link in the description and get that training immediately.