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Updated over 5 years ago on . Most recent reply

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Caleb Schlomach
  • Rental Property Investor
0
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5
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Letter to owner of property I'm interested in

Caleb Schlomach
  • Rental Property Investor
Posted

I'm working on acquiring my first property. I've Read several books and have a basic understanding of what I need to do.

In the town I live in there is a quad that's been vacant for atleast a year so far. I'm now in a financial position where I can start making moves. This property is not on the market but I got the owner's name and address and would like some tips on what I should include in a letter to him to see if I can purchase or any other ideas to make this work. I know anything's possible with determination but I want first contact to start off well and to be as professional as possible. Thanks

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Lore Postman
  • Rental Property Investor
  • Charlotte, NC
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Lore Postman
  • Rental Property Investor
  • Charlotte, NC
Replied

@Caleb Schlomach Congratulations on finding a prospective property that seems to meet your needs and for having patience as you’ve gotten yourself ready. 
   Regarding how to contact the owner, it’s worth taking extra effort to hand write a personal note that says you have been admiring the property for a while and were wondering if you (owner) had considered selling it. And even if not, you (Caleb) would enjoy the opportunity to see it up close, since it’s the type of property you’re looking to buy. 
   Owners these days are inundated with letters and postcards from potential buyers. And if they’re over 60, are long-time owners, and have a lot of equity, they may get multiple mailers each week. I talk to lots of landlords and property owners and the mailers they get are among their biggest irritations.
   So definitely take steps to make it obviously personal. Also prepare for a long process. I seek out off market properties that are in the areas where I want to invest, and I’m generally told “no” multiple times before we get to “yes.” 
   Have faith in your plan and vision, and patience in the process. The right results for you will occur!! 
   Good luck! Keep us posted on how it goes. 

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