locating apartment owners - Posted by todd wetzelberger

Posted by rita_mo on March 15, 2000 at 20:44:22:

did you try collector’s office,they should just need an address, then check if person paying taxs is the owner.
good luck

locating apartment owners - Posted by todd wetzelberger

Posted by todd wetzelberger on March 15, 2000 at 14:28:58:

does any software exist or does anyone have a strategy for locating apartment owners (4 to XXX units) single family homes aren’t too difficult. however i went to land records and clerk’s office and they said they need a name to search property. i told them if i had the name i wouldn’t ask them for help. we have some apartments outside new orleans and are always looking for more but rental mgrs. haven’t been too cooperative (wonder if they fear they will be fired if the bldg is sold ?) we are trying to find them before an agent lists them to save all the usual hassle associated with a listing broker. not much luck there w/ getting to know the owner w/o being adversarial with agent. any thoughts ?? thanks in advance

Re: locating apartment owners - Posted by JoeB(Atlanta)

Posted by JoeB(Atlanta) on March 15, 2000 at 21:57:40:

Hi again Todd, forgot to tell you that most good online property records services like FARES will allow you to search for all property who’s “land use” code is “apartment” – so you could just mail/phone everyone in that search.

Joe Brillante

Re: locating apartment owners - Posted by AL Brown

Posted by AL Brown on March 15, 2000 at 19:57:23:

I would suggest taking out an ad in the paper. Advertise to the apartment owner you are looking for. Place it in the Investment Property section or multi-family section, where properties are offered for sale. Other OWNERS who have not contacted Brokers, will look through there during the week to see comparable properties.

You might consider contacting your major banks where loans of the size that would finance those apartments are, and find out who has loans on different properties, I would contact their commercial loan officers, they definately know who the players are in town and around town.

These bank officers are more than happy to give you information as to people that own properties, if they think they are going to be able to write you a loan on them. Also, don’t forget about loan brokers, they generally know about properties in the area, and who the big owners are, they might help you as well.

If you haven’t done so already, I would join a local real estate investment association (REIA), a small nominal fee will allow you this group of contacts. I know a lot of people in my area that own property are a part of this. I am getting ready to join this very soon.

I am unsure of the amount of resources you are willing to throw at this, so these are a few of the ways I would look at this.

Grab a copy of your local apartments plus type magazine, i.e. complexes advertising to renters. Then go to the court house and look up these addresses, find the owners that have large numbers of properties, contact them and find out if they or any other major players in town are going to be selling in the near future. There is a CD-ROM in my area called AREIS, Auditor’s Real Estate Information System, this is also available online in my area. You might have something similar down there, but just not common knowledge this is available. Once you get an investor’s name who owns a lot of property, just search for owner’s name in one of these systems.

Contact property management companies, find out if the owners of the property management companies know of people that are getting ready to sell, or have buildings that are paid off, and are looking at selling. The line here is, that you would retain their services, if you get leads that allow you to buy those properties.

Just a few ideas, hope some of it is useful.

I am just starting out myself, I own a 4 unit, 2 unit, and am purchasing a 37 unit. When I bough the 4 unit I found out that the seller had a 28 unit building that he wanted to sell in about 3 years. I am the only one that knows about it, because he is not advertising it. fyi.

Re: locating apartment owners - Posted by JoeB(Atlanta)

Posted by JoeB(Atlanta) on March 15, 2000 at 16:45:47:

Hi Todd, you probably need a good online property data service (I use Metroscan from Transamerica, but they don’t support New Orleans yet), try FARES. I searched Archives and found this thread: http://www.creonline.com/wwwboard/messages/61153.html

Once you’ve looked up owner name for a given address (ie the apartment buildings), I would guess most owners would be corporations, LLCs, etc. So you may have to see if your state has a website where it lists the Corporate/Entities registered with the state and all the officers names/phones (in Georgia I can look that up on state’s website). Then call these folks and start negotiating!

Best of success,
Joe Brillante