If you feel like you’re constantly one step behind the best multifamily deals in LA, you’re probably looking in the wrong place. The truth is, many of the most profitable investments are never publicly advertised. These off-market properties are sold directly from one owner to another, bypassing the frenzy of the open market entirely. Gaining access to these opportunities requires a different approach—one that’s built on strategy, not just searching. This article will give you that strategy. We’ll cover the essential techniques for how to find off market multifamily properties, helping you build a pipeline of exclusive deals and establish yourself as a serious, go-to buyer in your target neighborhoods.

Key Takeaways

• Create Your Own Deal Flow: Don't wait for properties to appear online. The best opportunities are found by proactively contacting property owners through methods like direct mail and building relationships with local real estate professionals who can share exclusive listings.
• Vet Every Opportunity Meticulously: Off-market deals require extra scrutiny because they lack public data and disclosures. Protect your investment by thoroughly analyzing the property's financials, assessing its physical condition, and understanding the seller's real reason for selling.
• Build a Repeatable Deal-Finding System: Move from hunting for a single property to creating a consistent pipeline of opportunities. Use a simple system to track your outreach and consistently nurture your professional network so that your next deal finds its way to you.

What Are Off-Market Multifamily Properties?

When you’re scrolling through listings online, you’re seeing “on-market” properties. These are publicly advertised for sale, usually on a platform called the Multiple Listing Service, or MLS. This database feeds all the major real estate websites, putting those properties in front of millions of potential buyers. An off-market property, on the other hand, is a building that’s for sale without any public advertising. You won’t find it on Zillow or see a “For Sale” sign out front. These are deals that happen behind the scenes, through word-of-mouth and professional networks, often before the general public even knows a property might be available.

So why would a seller keep a valuable property under wraps? There are a few common reasons. Some owners value their privacy and want to avoid the hassle of showings and open houses. Others might be testing the market to see what kind of price they can get without formally listing. Often, they prefer to sell to a trusted buyer or someone in their network to ensure a smooth, quiet transaction. Finding these properties means you’re stepping outside the traditional marketplace and into a world of exclusive opportunities. It requires a different strategy, one that’s built on relationships and proactive searching rather than passive browsing. It’s about knowing the right people and looking in the right places.

Why They're Worth Your Time

Imagine finding a great investment property before anyone else even knows it's for sale. That’s the primary advantage of looking for off-market deals. Because these properties aren't publicly advertised, you sidestep the intense competition common in the LA market. You won’t find yourself in a bidding war that drives the price up and your potential returns down. Instead, you get to negotiate directly with the owner in a much calmer environment. This often leads to more favorable terms and a better price. The best deals are frequently found this way, giving you access to a hidden inventory of real estate investments that other buyers completely miss.

How They Give You a Competitive Edge

Pursuing off-market deals does more than just help you find a great property; it builds your reputation as a serious investor. When you proactively search for opportunities instead of waiting for them to appear online, sellers and agents take notice. They see you as a committed buyer who is resourceful and capable of closing a deal. This credibility is invaluable. Agents and wholesalers are far more likely to bring future opportunities to you first when they know you’re a reliable partner. You can even get access to properties before they hit the market with tools like a VIP Home Search. This proactive approach creates a pipeline of potential deals and establishes you as a preferred buyer in your network.

How to Find Off-Market Multifamily Properties

Finding a great multifamily property before it hits the open market isn't about stumbling upon a secret—it's about creating your own opportunities. While everyone else is scrolling through the same public listings, you can get a major advantage by going directly to the source: the property owners themselves. This proactive approach requires a bit more legwork, but the payoff can be huge. You’ll face less competition, gain more negotiating power, and potentially find a property that perfectly fits your investment goals. When a property isn't publicly listed, you're not caught in a bidding war, which often gives you the space to perform thorough due diligence and negotiate terms that work for you, not just the seller.

The key is to build a system that consistently puts you in front of owners who might be thinking about selling, even if they haven't told a soul. It’s about making connections and showing them you’re a serious buyer who can make the process easy for them. Think of it as building your own private inventory of potential deals. The following strategies are tried-and-true methods for uncovering these hidden gems. They shift you from being a passive buyer waiting for deals to an active investor making them happen. If you're ready to take control of your property search, these techniques are your starting point.

Launch a Direct Mail Campaign

A well-crafted direct mail campaign is a classic for a reason: it works. The goal is to send a personal, compelling letter directly to the owners of multifamily properties in your target neighborhoods. Start by identifying potential properties and using public records or online property data tools to find the owner's mailing address. Your letter shouldn't just say, "I want to buy your building." Instead, offer value. Briefly introduce yourself, explain why you're interested in their specific property or neighborhood, and make it clear you’re a serious buyer who can offer a smooth, hassle-free sale. Remember, this is a numbers game. You may need to send out hundreds of letters to get a few responses, but those few can lead to incredible opportunities.

Start Cold Calling Property Owners

If you prefer a more direct approach, cold calling can be highly effective. Just like with direct mail, you'll first need to build a list of properties and find the owners' contact information. You can often find phone numbers on rental advertisements or through public record searches. When you call, lead with a helpful and professional tone. You could share a quick, valuable insight about the local rental market or mention that you’re an investor looking for properties in the area. The goal is to start a conversation, not to pressure them into a sale on the first call. Many owners aren't ready to sell right now, but by making a good impression and following up every few months, you’ll be the first person they think of when the time is right.

Try "Driving for Dollars"

This strategy is exactly what it sounds like. You get in your car and drive through the Los Angeles neighborhoods you’re interested in, actively looking for potential off-market deals. Keep an eye out for buildings that look a bit tired or poorly managed—things like peeling paint, overgrown landscaping, or multiple "For Rent" signs with a personal phone number. These can be signs of a landlord who is overwhelmed or ready to move on. When you spot a promising property, jot down the address. You can then use online property databases or public records to find the owner's information and begin your outreach with a letter or a phone call. This hands-on method also helps you become an expert on your target neighborhoods.

Use Your Network to Uncover Opportunities

While online searches and direct mail can get you far, some of the best multifamily deals are never listed publicly. They’re found through conversations, relationships, and a solid professional network. People who are deeply connected in the local real estate scene—from agents to contractors—are often the first to know when a property owner is thinking about selling. Building these relationships puts you in a position to hear about opportunities before anyone else. Think of it as creating your own private source of deal flow. It takes time and effort, but the payoff can be exclusive access to properties with less competition.

Build Relationships with Real Estate Professionals

A great real estate agent is more than someone who shows you properties; they are your eyes and ears on the ground. When you build a strong relationship with a knowledgeable local agent, they’ll understand your investment goals and know you’re a serious buyer. This is crucial because agents often hear about "pocket listings"—properties that an owner wants to sell quietly without listing them on the Multiple Listing Service (MLS). If an agent knows you can close a deal, they’re more likely to bring these exclusive opportunities to you first. To build this trust, be clear about your criteria, have your financing ready, and be prepared to act quickly when they present a fitting property.

Connect with Property Managers and Contractors

Property managers and contractors have a unique, behind-the-scenes view of multifamily properties. Property managers work directly with owners and are among the first to know when an owner is getting tired of the landlord life or facing financial challenges. Reach out to smaller, local property management companies and ask if they have an "investor list" for when their clients decide to sell. Similarly, contractors like plumbers, electricians, and roofers often work on buildings where owners are reluctant to invest in major repairs—a common sign they may be ready to offload the property. A casual conversation can reveal which owners are overwhelmed and might be open to an unsolicited offer.

Join Local Real Estate Meetups

Connecting with other investors is one of the most effective ways to find off-market deals. Attending local real estate meetups puts you in a room with people who are actively buying, selling, and financing properties in your target area. You can learn from seasoned investors, find potential partners, and hear about deals being passed around the community. Look for Real Estate Investor Association (REIA) chapters or other professional groups in the Los Angeles area on platforms like Meetup. If you can't find a group that fits, consider starting your own. The goal is to become a familiar face in the local investment scene, so people think of you when an opportunity arises.

Find Properties Using Online Tools

You don’t have to spend all your time on the road to find great deals. Digital tools have made it easier than ever to uncover off-market properties right from your computer. By combining powerful research platforms with public data and online networking, you can build a robust system for sourcing opportunities. Think of it as your digital toolkit for deal-finding, allowing you to research, connect, and identify potential sellers with incredible efficiency.

These online strategies are perfect for supplementing your other efforts, like direct mail or networking with local professionals. When you know where to look, you can find valuable information that gives you a serious advantage. Let’s get into the best online resources for finding your next multifamily investment.

Use Property Research Platforms

Think of property research platforms as specialized search engines for real estate investors. These tools compile massive amounts of data, allowing you to filter for properties that meet your exact criteria. You can search for multifamily buildings by location, number of units, building size, or even the last sale date. This is a fantastic way to identify properties that haven't been on the market in a long time, as the owners might be ready to sell.

Many of these platforms also provide owner contact information, which is a huge time-saver. Instead of digging through records, you can get the details you need to start your outreach. While some of these services require a subscription, the access they provide can be well worth it. For a more personalized approach, you can also use a VIP home search service to get curated off-market listings that match your goals.

Search Public Records and Tax Data

Your local county websites are a free and often overlooked source of valuable information. Public records can tell you who owns a property, its purchase history, and its tax data. In Los Angeles County, you can access a wealth of this information online. This data helps you understand a property’s background and identify potential sellers, like someone who has owned a building for decades.

Another clever tactic is to look through apartment rental ads on sites like Zillow or Apartments.com. Sometimes, smaller landlords manage their own properties and list their personal phone numbers on the ads. This can be a direct line to the decision-maker, allowing you to bypass gatekeepers and start a conversation about a potential sale. It’s a simple but effective way to find motivated sellers.

Network on Social Media

Social media isn't just for staying in touch with friends; it's a powerful networking tool for real estate. Platforms like Facebook and LinkedIn host groups dedicated to local real estate investing where you can connect with other professionals. Join groups focused on the Los Angeles market to see what deals people are discussing and who the active players are.

The key is to build genuine relationships. Don't just join a group and post "looking for deals." Instead, participate in conversations, offer helpful advice, and connect with real estate agents, contractors, and other investors. These connections can lead to off-market tips and referrals. Following and engaging with local experts, like the team at Samimi Investments, can also keep you informed about the market and potential opportunities.

How to Approach Property Owners

Once you’ve identified a potential off-market property, your approach is everything. The goal is to build a genuine connection and position yourself as a helpful resource, not just another buyer. A thoughtful, value-driven strategy will set you apart and open the door to a conversation. Remember, you might be the first person they’ve seriously considered selling to, so making a great first impression is key.

Write a Compelling Outreach Message

Your first message, whether it’s an email or a letter, needs to be more than just an offer. It should demonstrate your expertise and genuine interest. Start by doing your homework. Use online resources to understand the property and the local area. Then, craft a message that provides real value. You could share insights on current local rent prices, recent sales in the neighborhood, or even upcoming zoning changes. This shows you’re a serious professional who understands the market. When you get in touch, you’re not just asking to buy their property; you’re offering them valuable information that helps them make a smart decision.

Create a Simple Phone Script

If you decide to cold call, having a simple script can help you stay focused and confident. Don’t try to read from a long, complicated document. Instead, jot down a few key bullet points. Introduce yourself, state your purpose clearly, and quickly offer a piece of valuable information. For example, you could mention, "I was looking at your property on Elm Street and noticed similar buildings in the area have seen a 10% increase in value this year." This immediately establishes your credibility. The goal isn’t to close the deal on the first call but to start a conversation and build rapport. Understanding what sellers are looking for will help you tailor your script effectively.

Follow Up Without Being Pushy

Patience is a virtue in the world of off-market deals. Most property owners won’t be ready to sell the moment you contact them. It can take months, or even years, for them to make a decision. That’s why a consistent, respectful follow-up plan is essential. Plan to check in every few months with a friendly email or a quick call. You can share another market update or simply remind them you’re still interested if they ever consider selling. This keeps you top of mind without being aggressive. While you nurture these long-term leads, you can use tools like our VIP home search to keep an eye on other opportunities that hit the market.

Know the Risks of Off-Market Deals

Finding an off-market property can feel like striking gold. You’ve sidestepped the bidding wars and found a unique opportunity that no one else knows about. It’s an exciting position to be in, but it’s also one that requires a healthy dose of caution. Off-market deals operate in a different world than traditional listings. They lack the transparency and standardized procedures of the open market, which means the responsibility falls on you, the buyer, to do some extra digging.

Think of it this way: with a publicly listed property, you get a full history, comparable sales data, and disclosures right at your fingertips. With an off-market deal, you’re starting with a nearly blank slate. It’s up to you to uncover the property’s story, its true value, and any potential problems lurking beneath the surface. This isn’t meant to scare you off—these deals can be incredibly rewarding. It just means you need to approach them with your eyes wide open and a solid strategy for vetting the opportunity. Being prepared for the unique risks is what separates a smart investment from a costly mistake.

Gaps in Market Data

One of the biggest draws of an off-market deal is the lack of competition. But that same privacy is also its biggest risk. Since the property isn't listed on the MLS, you won't have access to the rich market data that typically informs a purchase. Information on comparable sales, price history, and neighborhood trends is harder to come by, making it tricky to determine if the seller's asking price is fair. Without these benchmarks, you're essentially flying blind. You could unknowingly overpay or miss critical red flags that would be obvious with on-market property listings. This is where professional guidance becomes invaluable to help you analyze the property against the broader market.

Hidden Costs and Due Diligence

The asking price is just the beginning of the story. Off-market properties can sometimes come with a backlog of deferred maintenance or other hidden expenses that wouldn't fly on the open market. Issues like an aging roof, outdated electrical systems, or unresolved tenant problems can quickly turn a great deal into a financial drain. That’s why a rigorous due diligence process is non-negotiable. You need to go beyond a basic inspection and dig into the property’s financials, maintenance records, and any existing leases. Don't let the allure of a "deal" rush you into overlooking the true cost of ownership. A thorough property valuation should always account for these potential expenses.

Unclear Owner Motivation

When a property isn't publicly listed, you have to ask: why? The seller might simply value their privacy or want to avoid the hassle of a traditional sale. However, they could also be trying to test the market without creating a public record of how long the property has been for sale. In some cases, they may be hoping a private sale will help them offload a property with known issues. This ambiguity about the seller’s motivation creates uncertainty. It’s essential to ask direct questions and work with an agent who can help you read between the lines. Understanding the "why" behind the sale will give you a clearer picture of the property and strengthen your negotiating position.

How to Evaluate an Off-Market Opportunity

Finding a potential off-market deal is an exciting first step, but the real work starts now. This is where you put on your detective hat and dig into the details to figure out if this hidden gem is a genuine opportunity or a money pit in disguise. A thorough evaluation protects your investment and sets you up for long-term success. It’s not just about running the numbers; it’s about understanding the property’s physical health and the potential of the neighborhood it sits in. Taking a methodical approach here will give you the confidence to either move forward with a strong offer or walk away without regrets.

Analyze the Deal's Financials

Before you get attached to a property, you need to make sure the numbers work. Start by knowing your own budget inside and out. As one expert puts it, "Before you start looking, figure out... how much money you'll put in: This helps set your budget for the property." Once you have your numbers straight, you can request the property’s financial documents from the owner, like the rent roll and a trailing 12-month (T-12) operating statement. These documents will help you calculate the Net Operating Income (NOI) and determine a realistic valuation. Don’t just take the seller’s numbers at face value—verify everything and create your own pro forma based on realistic rent projections and operating expenses for the area. A clear financial picture is the foundation of a smart investment.

Assess the Property's Condition

An off-market property might not come with a neat little disclosure package, so it’s up to you to assess its physical state. A property that looks great on paper can quickly become a nightmare if it has major deferred maintenance. Walk the property if you can, paying close attention to big-ticket items like the roof, plumbing, foundation, and windows. This is also a great time to tap into your network. Local contractors often have the inside scoop and may know if an owner is planning to sell to avoid a costly repair. Getting a professional inspection is non-negotiable before closing, but your initial assessment will tell you if the deal is even worth pursuing.

Research the Area's Growth Potential

A great building in a declining neighborhood is rarely a good investment. The long-term success of your multifamily property depends heavily on the health of the surrounding area. When you’re looking for good rent growth potential, it’s often more effective to focus on specific neighborhoods, or submarkets, rather than entire cities. Dig into the local trends. Is the population growing? Are new businesses or developments moving in? What does the job market look like? You can find a lot of this information online, but nothing beats driving the neighborhood at different times of day. When you’re ready to get serious, our VIP Home Search can help you explore specific LA County neighborhoods and find the data you need to make an informed decision.

How to Secure Your Off-Market Deal

You’ve found a promising property and done your homework. Now it’s time to make it yours. Securing an off-market deal involves a different kind of finesse than a traditional sale. Since there’s no public bidding war, your success often comes down to your negotiation skills and how prepared you are to close. It’s about building trust with the owner and showing them you’re the right person to take over their property. With the right approach, you can move from conversation to contract smoothly and confidently.

Negotiation Tips for Private Sales

In a private sale, your relationship with the seller is everything. Start by building connections with real estate professionals who have their ears to the ground—a great agent often knows about "pocket listings" before they ever hit the market. When you approach an owner directly, focus on being a problem-solver. Try to understand their motivation—are they facing a maturing loan or simply tired of being a landlord? By understanding their needs, you can frame your offer as the perfect solution. This isn't about lowballing; it's about creating a win-win that makes the seller feel confident in their decision to work with you.

How to Finance an Off-Market Property

Financing an off-market property might seem tricky, but it follows the same principles as any other real estate purchase: get your financial ducks in a row early. Having pre-approval from a lender shows the seller you’re a serious, qualified buyer, which can be a huge advantage in a private negotiation. Working with a team that understands the LA County market is key. We can connect you with trusted local lenders who are comfortable with multifamily properties and help you explore all your financing options. Our goal is to help you prepare a compelling offer that gives the property owner every reason to say yes.

Build a Pipeline for Future Deals

Finding your first off-market deal is a huge win, but the real goal for any serious investor is to create a steady stream of opportunities. You don't want to start from scratch every time you're ready to buy. Building a pipeline means developing a repeatable system that consistently brings potential deals to you. It’s about shifting from actively hunting for one property to creating a magnetic pull that attracts multiple opportunities over time. This approach saves you time, reduces the stress of the search, and ultimately gives you more control over your investment journey. By combining consistent outreach with strong professional relationships, you can ensure your next great deal is always just around the corner.

Create a System for Consistent Deal Flow

A reliable deal flow comes from having a solid system in place. This means choosing a few outreach strategies that work for you—like direct mail, cold calling, or networking—and executing them consistently. The key is to track everything. Use a simple spreadsheet or a customer relationship management (CRM) tool to log every property owner you contact, when you reached out, and any notes from your conversations. Searching off-market already gives you a major advantage by putting you in front of deals with less competition. A well-organized system amplifies that advantage, ensuring no lead falls through the cracks and you can follow up at the perfect moment.

Maintain Your Professional Relationships

Your network is one of your most powerful assets for finding off-market properties. Build genuine relationships with real estate agents, brokers, and other investors. When agents know you’re a serious buyer who can close, they’re more likely to share pocket listings or pre-market opportunities with you. Connect with other investors who might pass along deals that don’t fit their specific criteria. Don’t forget about contractors, property managers, and attorneys—they often have firsthand knowledge of owners who may be considering a sale. The team at Samimi Investments can be a key part of this network, offering local expertise and connections. Your reputation for being reliable and easy to work with will open doors that would otherwise remain closed.

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Frequently Asked Questions

Is searching for off-market properties really worth the extra effort? Absolutely. While it does require more proactive work than browsing public listings, the payoff is gaining a significant advantage. You’re stepping away from the bidding wars and intense competition that define the public market. This gives you more breathing room to negotiate directly with the owner, often resulting in a better price and more favorable terms. Think of it as creating your own opportunities instead of waiting for them to appear.

Do I still need a real estate agent if I find a property on my own? Yes, having an expert on your side is even more critical with an off-market deal. Your agent’s role shifts from finding the property to helping you properly vet it. They provide the professional analysis needed to confirm the property's value, guide you through a thorough due diligence process, and handle the complex negotiations. Their expertise is your best protection against overpaying or overlooking hidden issues that aren't always apparent in a private sale.

What's the most common mistake to avoid when approaching a property owner? The biggest mistake is making the conversation transactional from the very first moment. Leading with a lowball offer or a pushy sales pitch will almost always shut the door. Your initial goal should be to build rapport and position yourself as a helpful resource. Offer a piece of valuable market insight or simply express your genuine interest in the neighborhood. By focusing on creating a connection first, you establish trust and make the owner far more likely to consider your offer when the time is right.

How can I confidently determine a fair price without public listing data? This is where professional analysis is essential. You can’t rely on guesswork. A fair price is determined by digging into the property’s financial health, specifically its Net Operating Income, which you calculate from documents like the rent roll and operating statements. You then work with your real estate professional to analyze recent sales of similar, non-listed properties in the area. This combination of property-specific financials and private comparable sales data gives you a clear picture of its true market value.

I'm just starting out. Which strategy is best for a beginner? A great starting point is "driving for dollars." It costs nothing but your time and is the best way to become an expert on the neighborhoods you’re targeting. As you identify promising properties, you can begin a small, focused direct mail campaign. At the same time, start building your network by attending local real estate meetups. This balanced approach combines hands-on research with relationship-building, allowing you to learn the market while making the connections that lead to future deals.

By: Cameron Samimi

Author Bio: As one of the top producers in Los Angeles County for apartment buildings and recognized as one of the most respected real estate advisors, Cameron brings a wealth of information to the table to help his clients with real estate taxes, valuations, and maximizing returns. Cameron is our top agent here at Lyon Stahl and has led the fastest-growing real estate career we have ever seen at our company. The Los Angeles Business Journal recently recognized Cameron these past two years by nominating him for “Broker of the Year.” During his time at Lyon Stahl, he has received several awards including Top Producer (’18,’19,’20,’21,’22,’23) and High Velocity (’18,’19,’21,’22,’23) among others, and stands alone as our only agent to reach the Senior Vice President level with the company. It is hard to find a broker that is more trusted than Cameron. His ability to navigate new laws and market opportunities has helped him set market records for sales prices time and time again for his clients and bring them well above market returns. Cameron is an expert on 1031 Exchange Strategies, Real Estate Taxes, Apartment Flips, Underwriting and Valuations, and can help you or your clients maximize your real estate returns.