The Real Estate Syndication Show WS1507: Source Deals Like A Pro | Craig Berger
Multifamily is a competitive market and finding deals can be a challenging task. So, how do you find deals like a pro? What strategies can you use to make sure that you are getting the deals that will make your investors happy? Craig Berger of Avid Realty Partners answers all these questions in this second part of our three-part series with him.
Craig begins by detailing how he is finding deals now. He then talks about finding on-market and off-market deals, why you should build relationships with brokers, and how multifamily properties are mostly an institutional asset class. He also emphasizes why being kind and appreciative can go a long way in this business. Tune in now and start sourcing deals like a pro!
Key Points From This Episode:
- Craig details how he’s finding deals.
- What metrics does Craig look at when sourcing and finding deals?
- The thought process behind deciding whether the deal is for the long-term or for trade.
- Craig details some strategies for finding deals right now.
- The importance of building good broker relationships.
- Why being kind and appreciative of brokers can go a long way?
- Craig shares that he and his team brainstorm ideas twice a week.
- What do most investors do wrong when it comes to broker relationships or networking with brokers?
Tweetables:
“We look for an asset that's going to deliver for our investors. Number one, something that we think we can generate cash flow and appreciation from, and we're pretty value conscious and value sensitive.”
“We do want to build scale, and you don't build a scale by selling off all of your assets.”
“We're looking to create value, we're looking for great locations, hopefully improving locations, growing locations.”
“Even if you love an asset, you still have to at some point transact either internally or externally. Unless you're investing your own money, which would be a great place to be.”
“The reality is multifamily is an institutional asset class. Most of the good deals are institutionally owned.”
“Most of the quality assets are brokered are listed, and that's how we've built our business.”
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