How to find Multi Family properties that aren't on MLS and CBA

As the investment climate changes and properties become harder to come by, new means must be sought in an effort to find and acquire Multi Family Apartments.  These simple steps can help you find apartment complexes that others have simply overlooked or were unaware of.  

• Look through local newspapers - The real estate section in your local newspaper will have advertisements stating 'principals only'.  These properties are typically not listed and may or may not involve a listing agent.  http://www.nwclassifieds.com
• Internet - You'll have to do a lot of digging, but often site specific websites will be created to market the sale of larger buildings
• Local Commercial Firms - Most Commercial Brokerages will have 'Exclusive Listings' that are not listed on any website but their own.  This is done to separate qualified buyers from the unqualified buyers.   http://www.ehirealestate.com, http://www.paragonrea.com
• Talk with Neighbors - If you currently own a building, talk to your neighbors and find out if they plan on selling in the future.  If your timing is right, you may be able to find someone willing to sell to another local investor.
• Talk with an agent who works in 'your' area.  - Most agents, including myself, farm their local neighborhoods in search of clients who are willing to sell apartment complexes.  As stated in my last post, many times the seller does not want to list the property on the open market, but will sell if a buyer is procured.  A large portion of my business comes from off market sales.