Search
Close this search box.

If you’re going to invest in multifamily real estate syndications, your primary challenge is sourcing deals. When you complete your first deal, the law of the first deal is set into motion, but you want to look forward, not back. You need steady, consistent deal flow.

Early on at Nighthawk, we built our portfolio out of deals that people brought to us. That served us well at first, but we didn’t have a focus. We had to get clear about the deals we wanted, the types of property we wanted to own.

As you build your business, you want to dial in this focus for yourself. Where do you find deals?

Sourcing Real Estate Deals is Easier Than You Think

Make sure you download ALL my resources for FREE at this link: https://themichaelblank.com/vault

Know Your Market

We discovered that being too spread out geographically made our portfolio difficult to manage. It’s better to hone in on a market and have multiple deals in that area.

You want to select a market that has enough resources that you’ll be able to easily operate there. You don’t want the uphill battle of buying into a market where there are already a lot of people doing deals.

You want a market where there is a lot of inventory, but it’s not yet overheated. Look at things like population growth, economic growth, etc.

Look for areas where you can add value to a property.

Do you research, then get out there.

Build Relationships

Your relationships are vitally important. Specifically, your relationships with brokers.

The best source for finding multifamily properties is through commercial real estate (CRE) brokers.

Brokers make it their business to know every multifamily property owner in town. Instead of starting from scratch, you can leverage their knowledge, their database of relationships, and find out about deals before they’re known to the public.

You want to step into the stream of deal flow, and brokers know where the deal flow is.

Your strategy should include, phone calls and one-on-one meetings. Get to know brokers. Take them out for a cup of coffee. Build genuine friendships. Invest in brokers and they will tip you off to deals.

In order to build those relationships and be taken seriously by brokers, you need to stand out from the crowd. The best way to do this is to be educated, informed, and clear about what you do and don’t want.

If the numbers don’t work for you, call them and let me know. If you like a deal, get back to them quickly and let them know.

If you’re wondering how to find these brokers in the first place, I have a resource for that.

Be Relentless

You’ve often heard us say, it only takes one deal to change your life.

Some things are out of your control, but as long as you’re showing up every day, putting in the work, and repeated your process, you will be successful.

Repetition is the key that success.

You will have some hits and some misses. Keep learning, keep going, and eventually, you’re going to get the big hit that changes everything.

Where can we send your Calculator?

You have Successfully Subscribed!