How to Find Profitable Rentals in 2025 (Lazy + Expert Methods)
Where to Find Off-Market Multifamily Deals in 2025
Listings fatigue and rising competition on Zillow and Redfin have left many new investors wondering where the real opportunities live. This episode breaks down practical alternatives used by experienced buyers, starting with targeted direct mail to small multifamily owners and moving through humane tenant conversations, portfolio triage, and creative passive-income options. The advice balances hustle with empathy and shows how a few data-driven moves can unlock equity, better terms, and more reliable cash flow.
Targeted Direct Mail: A More Personal Route to Deals
Instead of broad cold calling or shotgun marketing, build a focused list of property owners using list-building platforms like PropStream, ListSource, or DealMachine. Filter for small multifamily property types, owners with 80%+ equity, and at least a decade of ownership to reach retiring landlords who may prefer seller financing or an owner-financed exit.
The recommended outreach cadence is multiple touches over 90 days—ideally every two to three weeks—and a list size in the low thousands to generate reliable leads. Handwritten, story-driven letters that invite conversation (
Key points
- Use list-building tools to target small multifamily owners with 80% equity and 10+ years ownership.
- Send personalized direct mail every two to three weeks to the same list for at least 90 days.
- Offer seller financing pitches to retiring landlords who prefer monthly cash flow over lump-sum sales.
- Meet long-term tenants in person and present comps before proposing staged rent increases.
- Ramp rent to market over months or years using tiered increases to reduce turnover costs.
- Quarterly portfolio reviews reveal underperformers and capital allocation opportunities.
- Consider midterm rentals or furnishing units when capex unlocks significantly higher monthly income.
- For passive income, prioritize private debt funds or diversified lending over solo flipping investments.
