Hi WSO, I'm an east coast broker who has a very personal client whom would like to sell a portfolio of his multifamily properties all around Texas. Does anyone know where I can buy or find a database of solid buyers / real estate leads for multifamily owners in Texas?
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Sure, engage a local broker.
What kind of product does he have? The cap rate compression that we've been seeing for garden style is absolutely crazy in DFW. Who knows how long it will last though
This is all multifamily product/assets. I know cap rates were averaging anywhere from 6-7% in DFW in previous years but it looks like some deals have compressed all the way down to 4-5%. Is this what you're currently seeing in Texas too?
costar/rca. $1000 and it's all yours.
My firm pays for Costar but contacts on there are tedious to find and ownership info seems outdated vs other platforms like Reonomy. You also can't export ownership email/contact details straight from Costar.
why not hire a broker? you could also try posting on LinkedIn
Pardon my ignorance but can someone provide a bit of background on this? I've never worked in brokerage, I've spent most of my career in lending so this particular part of the transaction isn't something I have experience with
Why is a buyer's list needed? Couldn't you just list some of these on LoopNet and have an email inbox full of interest in a couple days? Or reach out to some local brokers? Is this to make sure you're pricing the assets correctly?
I'm just curious what role this plays considering how hot most markets are right now. Again apologies if this is a stupid question
They're trying to avoid paying brokerage fee on the buy-side.
AH. That makes sense. Thanks
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