I'm trying to source a off market deal. I recently sent out 4 letters to the owners of 4 to 20 unit apartment complex owners. I got 1 call. I think I botched it. Letter is short and sweet "I am interested in purchasing your property. Call me anytime." Call went like this:
My name is XYY, I got your letter.
Me: Hi XYZ, thanks for contacting me. I am an invester looking to purchase an apartment building. To be honest I have sent out a few of these, what is your property address?
Me: May I ask you a few questions for the purposes of making an offer?
Me: how many units is the building?
Me: are utilities separate?
Me: Based on the information it is definately something I'd like to own.
how much are your offering?
Me: I'd like to meet with you and see one of the units before making an offer. I can't give you an offer without see the building.
oh you want to meet and see an apartment?
Me: Yes, I don't want to make an offer without getting a feel for building in person. When can we meet.
well, i have your info, maybe we can do that sometime.
Me: I am available tomorrow, saturday and sunday. I live 4 towns away and can meet at your convenience.
I have your letter maybe we can do that in the future.
Does anyone have a feel for why things went south?
Can you provide me with some constructive criticism to make future calls better?
Are there any scripts out there you can connect me with?
It sounds more like he is fishing for a sucker to make an offer without him giving an asking price or letting you view the property than you dropping the ball. I wouldn't sweat it- he obviously isn't motivated. It's the equivalent of someone saying, "I'm holding something behind my back. I will sell it to you, but you can't look at it, and I won't tell you how much I want for it." Ridiculous.
My suggestion would be to keep it more conversational on the initial call and ask more open-ended questions. Build some rapport first and find out more about their motivation for selling, then follow up with the property specific questions.
Owen D., Thanks for the valuable feedback! I will focus more on the items you suggested. I think the adjustments will increase the likely hood of getting to the next step.
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