Three ways to surface good investment deals

Many multifamily listings just don't add up for the buyer who is looking to cash flow a property. The listed price is too high, and the rents are too low, to make money on a monthly basis. Finding the right property can require some persistence and patience.

With this in mind, here are 3 ways to find a multifamily owner who is willing to sell at a price that makes sense for you, the buyer.

Ask your Realtor to send an email to the listing agents of other multifamily properties. Your Realtor's email should state he has a client who is ready to buy a property that makes economic sense for his client. Your Realtor will receive a lot of replies. Some of those replies will state that the seller is motivated and willing to entertain any offer.

Get out and tour some properties, even those that are currently listed at prices too high to justify a purchase. This is a good idea for two reasons. First, it allows you to stay in touch with the inventory on the market. Second, some of these sellers will eventually become more flexible. You'll find they will reach out to you when they are ready to lower their price.

Have your Realtor monitor the market for new listings and price reductions that make sense for you, the buyer. As an example, we have a client that had his eye on a property for several weeks. Then the price was dropped by $50,000. This represented a great opportunity for our client, and we immediately submitted an offer. Two other offers came in at the same time. Our client's offer was not for the highest price, but the seller chose to go with our client because he was pre-approved and could close quickly.

There are plenty of opportunities out in the market right now, and there will be plenty more in the future. The investors who cash in on these opportunities will be the ones that are patient, persistent and ready to pounce when the right opportunity presents itself.

Dan Miller, Keller Williams Realty and DaneCountyMarket.com