How to motivate and UNmotivated seller
I'm looking at a commercial piece of property that is a For Sale By Owner property. The owner is older, very difficult to deal with, very unmotivated, and out-of-town... and in my opinion has the property over priced by about 25%. The property needs a LOT of work (currently vacant & rundown, would be a redevelopment project) but, has good return potential (buy and hold). So, my question is- how have you all dealt with difficult owners? Any tip, tricks, or lessons you can share with me is greatly appreciated.
I've spoke with him on the phone which, was painful to say the least. I'm considering mailing him an offer letter (below is asking price) but, it's likely I'll lose him if I can't grab his attention with the letter. Hell, maybe the letter is the wrong approach so again, any tips or tricks is greatly appreciated!
Most Popular Reply
To answer the question in your subject line - You don't! You spend your time looking for motivated sellers. Don't waste time trying to convince unmotivated sellers.
The best strategy is simply be polite respectful and helpful. Follow up from time to time to see if he has come to his senses. I have had many sellers come back to me up to a year later with a deal that made sense. They called me because of the way I treated them when I first spoke with them.
It is worth a shot sending him an offer but I haven't found that effective.