talking owner of apartment complex to sell property to me

Investor · Noblesville, IN · Member since 2015 · 9 posts · 4 votes

I found a 36 unit apartment complex near me that was up for sale a few years ago because owners wanted to retire. It's no longer on the market but same owners still own it. How would you go about contacting them to entice them to sell? I know there names and a PO box but I don't have a direct phone number (other then office of manager on site). Is mailing a letter in hopes they will read it? Or get sneaky with property manager to get contract info. I tried looking online and have came up empty handed. I have a feeling they would be interested in talking about selling since I know they are wanting to retire. I have about 15 single family and Duplexes and ready to take on a bigger project. Thanks for any input. Also location is central Indiana

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Peter B.

Investor · Ogdensburg, WI · Member since 2016 · 273 posts · 351 votes

@Cody Robison

I just did this on a 22 unit complex near my property as well. I sent my letter to the address on the tax info page.

In my letter I wrote, "I was a local investor with property near by and if he would ever consider selling please let me know."

Owner responded within a couple weeks. We are pretty close on our numbers... I am optimistic we will work it out.

Just keep it simple. I have done this a few times. The response rate was surprising... Some were way off, and I actually closed on one in January.

Peter

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Deanna McCormick
Minneapolis, MN · Member since 2013 · 2k+ posts · 1k+ votes
9y
Can't find out owner from property tax info... or utility listings... then I'd just go into rental office ask the manager for the owners name,, you could mention that your interested in a similar property in the area and would like to ask the owner some questions..
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Cody Robison
OP
Investor · Noblesville, IN · Member since 2015 · 9 posts · 4 votes
9y
Property tax info is how I found the po box. I like the thought on saying I am buying a property near by. Will have to try somthing like that.
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Percy N.
Developer · Philadelphia, PA · Member since 2015 · 2k+ posts · 905 votes
9y
Cody Robison do what Deanna McCormick suggested or spend $15-$20 in a skip trace.
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Peter B.
Investor · Ogdensburg, WI · Member since 2016 · 273 posts · 351 votes
9y
@Cody Robison
I just did this on a 22 unit complex near my property as well. I sent my letter to the address on the tax info page.
In my letter I wrote, "I was a local investor with property near by and if he would ever consider selling please let me know."
Owner responded within a couple weeks. We are pretty close on our numbers... I am optimistic we will work it out.
Just keep it simple. I have done this a few times. The response rate was surprising... Some were way off, and I actually closed on one in January.
Peter
2 Reply
Cody Robison
OP
Investor · Noblesville, IN · Member since 2015 · 9 posts · 4 votes
9y
Well I just called the office and left my number for the owner. Crossing fingers it works
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