I've located a property that seems would make a great flip. It's on my street, been vacant for over 6 years, and the owner lives right around the corner. I've been hesitating for months on this because I'm unsure of the best way to make contact with the owner. I don't want to scare him away. I tried calling, but the number was no longer in service. I've been considering a letter, but is that too passive? On the flip side, does a phone call put him too much on the spot?
I've been hoping to bump into him since I know who he is, but it hasn't happened yet. Would rather not stalk him :)
Any advice on the best way to approach this? What would I include in a letter?
@Jared Brandon Send a letter a week to him, cost of your time and postage. He will let you know if he is not interested. I do it all the time. Say "I am real estate investor and I really like your home at XYZ." Let him know your terms (how quick you can close), and any other details. Then ask if you can meet with him and talk face to face. Give a bit, but just enough to get the face to face. Best of luck to you!
@Jared Brandon I would normally say to call, but if he lives that close I would actually go knock on the door and introduce myself. I just did that recently for a vacant house not far from me.
When I researched the owner I saw she had an insurance office right next to the barber shop I go to. The next time I went to get a haircut I just stopped by and talked to her. She wasn't ready to sell and may not sell at all, but we talked for quite a while and I'm fairly certain I made a good impression with her.
That's not my normal approach, but when they're that close I think it's worthwhile.
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