Foreclosure in Tucson>Question Details

Eric Wu, Home Buyer in Russian Hill, San Fr...

What is the easiest way to find foreclosures on multi-family housing in this market?

Asked by Eric Wu, Russian Hill, San Francisco, CA Tue Jun 21, 2011

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In any market, your best bet is to call a REALTOR. He can send you information directly from the source. Most smaller multi-family properties are listed in the MLS, which is the multiple listing system we use for residential properties.

For bigger apartment complexes, you should work with a commercial REALTOR as most residential REALTORs will not have a clue on how to go about helping a client buy commercial real estate.

If you go to sites like loopnet.com (the most well-known for residential multi-family buildings) you will be able to find properties, but be advised that the information is frequently out-dated. You will find several properties that are showing as available, that are no longer available. But it is a good way to start to have a feel for the market.

When I first started investing in Real Estate (even before becoming a full time agent) I researched multi-family properties here in the Phoenix area. It is fascinating and there is a lot of money to be made in that market if you are careful and buy it right.

One strategy that I considered using was to buy a 4-plex, move into one of the units and rent the other 3. You can live mortgage free this way. But there was no way I could convince my wife to go along with the idea. To this day I still think it is a solid way to invest in real estate.

But I digress... Good luck and feel free to ask more questions as you research this market.

Jose Dias, REALTOR
(623) 418-5700
Jose@MyFirstHouseAZ.com
Realty One Scottsdale
1 vote Thank Flag Link Tue Jun 21, 2011
The best, easiest, cheapest way to find a multi-family complex is to hire a Realtor. They will do all the work fro you and it costs you nothing. There are all kinds of web sites that you can search but they probably are not up to date. Realtors have up to date information and may know of properties that will be coming on the market by net working with ledors and other agents. A buyer's agent represents you but gets paid by the seller. Our Team is licensed to work all over the State of Az. We specialize in Tucson and Phoenix but we know the entire State and we have contacts all over the state. This is a great "Buyers" market that we may never see again. If we can help you. let us know.
2 votes Thank Flag Link Wed Jun 22, 2011
Here is a link to all active MLS listings for short sale and REO multi-family properties in San Francisco:

http://www.mlsfinder.com/ca_sfar/oggikashi/index.cfm?action=…
Web Reference: http://www.oggikashi.com/
1 vote Thank Flag Link Thu Jul 21, 2011
There are a lot of people who want to pre-search by themselves to get a feel for the market and I think that's great. For multi-family go to: http://www.loopnet.com. You can choose "1-4 family" or "multi-family." Underneath the property types you can choose to search for " only distressed properties" or "only auction" properties. Please keep in mind that you will only be able to access standard listings and not premier listings unless you join Loopnet. You can also check on http://www.tarmls.com by searching "residential income."

Good luck to you and make sure you work with a commercial agent if you decide to go ahead and purchase. Us commercial agents can help with the pro-forma financial on income producing property.

Good Luck to you.
1 vote Thank Flag Link Tue Jun 21, 2011
Dear Eric:

There are many smaller (under 10 units) multi family on the MLS. Your Realtor can show those to you. However the larger apartment complexes are usually not listed on the MLS. Your RE agent that focuses on commercial can find these properties for you. They are not listed in any one place, however there are several websites that many of the commercial multi family apartments can be found on.

Also checking on the websites for the top ten commercial brokers will bring you more apartment complexes.

Jeff Masich, Realtor
Arizona Homes and Land
HomeSmart Realty
Web Reference: http://ArizonaHomesLand.com
1 vote Thank Flag Link Tue Jun 21, 2011
Call Dena at Win3 Realty! We have accounts with 36 Banks and market all the listing. 520-247-9164
1 vote Thank Flag Link Tue Jun 21, 2011
I can set you up on a custom search that will send you all the available multii-family homes in the areas you are looking. Please contact me at 480.707.1195 or landonwork@gmail.com. thank you
1 vote Thank Flag Link Tue Jun 21, 2011
Call an agent! Many good agents available to help you find exactly what you are looking for!
1 vote Thank Flag Link Tue Jun 21, 2011
To work with an agent or Realtor. FYI for most buyers costs you nothing to work with a buyers agent, many agents (like myself) have no retainer fee for buyer clients. Best of luck. Spirit
1 vote Thank Flag Link Tue Jun 21, 2011
The best way is to contact a Realtor. There is no obligation and the services are usually no charge because the Seller pays the fees. Please let me know if I can help.

520-661-5340
edholmes@live.com
0 votes Thank Flag Link Fri Jun 29, 2012
You can RealtyTrack the fees they ask, or you can ask a local Realtor and get the answer for free
0 votes Thank Flag Link Fri Jul 29, 2011
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