Direct Mail to multifamily sellers help!

9 Replies

Hoping someone can share their multi family direct mail experience and possible letter idea. After flipping SFR deals the last 12 years we have decided to shift into multifamily buy and hold deals. We have purchased 41 units consisting of 4 different buildings across 2 states and we are hooked. Looking to really hit the marketing hard next 6 month and keep that unit count building. Any input or past experiences shared is greatly appreciated. Starting with targeting direct mail at moment as well the normal networking to realtors.

Originally posted by @Justin Schmidt :

Hoping someone can share their multi family direct mail experience and possible letter idea. After flipping SFR deals the last 12 years we have decided to shift into multifamily buy and hold deals. We have purchased 41 units consisting of 4 different buildings across 2 states and we are hooked. Looking to really hit the marketing hard next 6 month and keep that unit count building. Any input or past experiences shared is greatly appreciated. Starting with targeting direct mail at moment as well the normal networking to realtors.

 Good to meet you 

Here is one... we use a series of 7 letters

Happy hunting

@Justin Schmidt Interested to hear about which owners you're going to target, I.E. out of state, owners who have multiple properties, eviction records, what size properties, etc. and what your success rate is. I'm considering a similar DM campaign.

Originally posted by @Jim Hiler :

@Justin Schmidt Interested to hear about which owners you're going to target, I.E. out of state, owners who have multiple properties, eviction records, what size properties, etc. and what your success rate is. I'm considering a similar DM campaign.

 Jim I am currently marketing to absentee out of state owners, 30% equity or greater with at least 1 year tax delienquncy.  Were just now making shift to multifamily from Sfr so I haven't tested this data to much as of yet. Will be adjusting as data comes in. 

@Justin Schmidt  

I started a marketing campaign to small apartment buildings few weeks ago with decent hit rate. Purchased the list from listsource, criteria are high equity (>30%), long time ownership (owned more than 5 years), no more than 50 units. I got few calls from the 271 post cards. One gentleman wanted to sell his vacant building with 10 year back taxes. I wondered why it had not be sold at county tax sale?  Two more owners wanted to sell their 2 flat and 4 flat. Both in D area, so I passed. Overall, first mailing is not too bad. I'm in the process of updating the list and send another round of letters pretty soon. Hope this helps. 

FYI... There are similar threads in this forum and you can easily find them with a quick search. 

10 years of back taxes sounds like a great starting point. The city is probably willing to take 25% - 35% of taxes because they continue to get zip without a deal.