How to Find Off-Market Multifamily Deals in a Competitive Market
In my recent podcast guesting on the Best Ever CRE Show, I sat down with Matt to talk through how Apogee Capital actually finds deals in today's market. We got into why knowing what makes a good deal is the real starting point, long before you ever pick up the phone with a broker, and why chasing deals in DFW pushed Apogee to become experts in tertiary markets like Tulsa, Oklahoma City, and College Station instead.
I broke down why broker relationships are the backbone of Apogee's deal flow, how to earn a broker's trust when you're brand new, and why simply doing what you say you're going to do is still one of the most underrated advantages in this business. I also walked through the story behind Parkside Apartments in Lubbock, a deal that got away from us at first before falling back into our lap, and how that deal fit into a broader shift toward true value-add opportunities.
We closed out talking about where Apogee is headed next, why I feel like now is actually a great time to be buying, and the origin behind the Apogee name itself.
What We Cover
Why knowing what a good deal looks like matters more than finding deal flow
How Apogee shifted into tertiary markets when DFW became too competitive
Why broker relationships remain the most reliable way to source multifamily deals
How to build trust with brokers as a newer investor
The story behind the Parkside Apartments deal in Lubbock and how it came together
Why now may be a strong time to buy despite a tougher lending environment
Where Apogee Capital is focusing next and the story behind the company name
Key Takeaways
You have to be able to identify a good deal before finding deal flow actually matters
If a deal does not work with agency debt above 85 percent occupancy today, growing into it is not a realistic plan anymore
Broker relationships are built on simple integrity, doing what you say you are going to do consistently over time
Partnering as a co-GP with an experienced sponsor is one of the most realistic ways to jump from small deals to much larger ones
Even technically on-market deals can behave like off-market opportunities when you get an early look before they officially list
A buyer falling through on earnest money can open the door for a backup buyer who is ready to move quickly
Apogee is now focused specifically on Dallas Fort Worth and Oklahoma City to build depth in fewer markets
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