First Post! Having trouble finding this answer!
I'll make this part short, I'm looking for a 3-10 unit in PA, I have a list I bought and I'm hand writing owners asking to buy their property. Keep in mind, I don't know their motivation until they call/text/email me. I have sent out 44 so far and have had 4 calls, 1 text, and 1 email, I've viewed 3 properties and I'm going to look at a 4th today. On the others, I didn't offer immediately, one was out of state but the others took me through the properties, and they were in good condition, with tenants in place, which I expect will be the same today also. With the others I waited, wrote up an offer with a standard agreement of sale (I'm a licensed agent), and MAILED it to them, then called with the offer. All were declined without a counter, and they really were my highest and best offers, which I knew were a long shot.
Lets get to the question- When and how do you submit offers to your sellers? Do you present multiple offers with different terms? If they decline, how do you follow up, if at all afterwards?
My plan- not sure. I am about to refinance a single family, which I used a HELOC to purchase, so I have a HELOC on my primary and SOME cash. If I was buying one of these and NOT making it my primary, I'd use hard money if I had to or see if I could get a conventional mortgage for it. The one I'm looking at today I think I'd use as my primary, so I've considered locking it up contingent upon the sale of my primary residence also, just for some context.
THANK YOU IN ADVANCE!
These are good questions! I'm interested in what the community comes back with!!