Approaching Off-Market Retail Properties

[Andrew Ace]

This is more a question of style, preference, and technique.

Over the past couple months I have put together a team to target retail commercial properties. We have identified a couple properties/intersections we really like in Houston to do some value-add projects, ran some numbers, lease comps, etc. and have narrowed down the list. Most are off-market.

If you are a retail property owner, how would you prefer someone approach you? Are there ways you have seen used or used yourself that have been successful in establishing rapport and creating a dialogue to get to a deal discussion?

Any ways of being approached that would turn you off to a deal, regardless of whether it is a good deal for you (the seller) or not?

[Cody L.]

Originally posted by @Andrew Ace:

This is more a question of style, preference, and technique.

Over the past couple months I have put together a team to target retail commercial properties. We have identified a couple properties/intersections we really like in Houston to do some value-add projects, ran some numbers, lease comps, etc. and have narrowed down the list. Most are off-marke

If you are a retail property owner, how would you prefer someone approach you? Are there ways you have seen used or used yourself that have been successful in establishing rapport and creating a dialogue to get to a deal discussion?

Any ways of being approached that would turn you off to a deal, regardless of whether it is a good deal for you (the seller) or not?

 Here is what I do, and why I think I have better luck then the rest.  I never do blasts.  I target the property I want, get the owners name/email (not that hard) and call them and say "My name is Cody. I'd love to buy your property at X.  I'm a serious buyer with properties in the area.  Don't want to waste your time. I'll put up hard non-refundable money, close as is".

That's refreshing from a blast email saying "I want to buy your property" and then if the seller response, the "buyer" asks them 1000000 questions, wants to go under contract for 100 days with $100 of EM so they can flip the contract.   No seller wants to deal with that crap.