Can anyone provide me with an example of an effective letter used to approach an owner of a 6-8 door garden style apartment complex? The property is not currently on the market but I'm very interested in planting the seed to see if there's any interest in selling. Other than the basics of introducing myself and presenting the intent, is there anything else you would include to gain the desired attention?
@Frank Costa just tell him that you are local investor seeking to expend your portfolio. mentioning that his complex at XYZ St could be a good fit , and that you are interested in talking to him if they would consider selling.
leave your phone number and email.
@Frank Costa i have copy pasted a letter format that i used for an 8 unit mixed use building. It worked for me as the owner called me a week or so after i sent the letter. I met the owner at the property a couple times but we never could agree on terms, i have not bought the property, YET! I have bought an off market duplex from a similar letter of a slightly different format of this letter. I have had pretty good luck with direct mail. See below!
I hope this letter finds you well. My name is Justin Eaton and I am a local real estate investor. My company is Eaton Homes, LLC. I have been in the business since 2013, so far I have done all flips and I am in the process of purchasing my first single family buy and hold property. I am also looking to purchase a multi family property and I saw the mixed use multiplex that you had listed for sale in Magnolia. I am a Magnolia resident and I drive by that building every day! I would love to revitalize the exterior and make it a prominent building in town!
I am writing you this letter to see if you would be interested in a seller-financing or master lease option on the property.
Also, if you have any other properties that you may be willing to sell, I would be interested.
Feel free to contact me any time via phone or email, both of which are listed below.
Direct cell: ###
Have a great day and thank you for your time.
Justin Eaton, Owner
Eaton Homes, LLC.
Justin, that’s a great letter I can see why is works. It is personal and goes beyond just asking someone to sell. Thanks for sharing it. All the best!
Thank you Hadar & Justin!!!
I really appreciate the feedback!
@Justin Eaton Great letter!
I think that touches the types of things you can include in a letter or call that will set yourself apart. Specific knowledge of that property and sub market.
I recently cold called an owner who owns a great deal of units in the markets I focus in (obtained his name by googling the ownership LLC and found him as the executive officer. Then searched his name and turns out he owns a local business, called his secretary a few times explained my intent, she then shared his email. I continued to follow up with email and calls to the office, he was always out but she eventually gave me his cell and I was able to reach him there.) He has agreed to sit down with me to speak about selling a few of his buildings that I am particularly interested in. We connected because I made it clear which buildings I wanted and why. It was also obvious that I understood this sub market and had done my homework. In fact by studying the tax records I was able to tell him about some close by transactions that he had not been aware of. Also I had previously emailed the owner our groups credibility packet making it clear that I was a serious buyer and not a service provider or agent.
Great info, thanks all for sharing!
@Frank Costa I don't mean to hijack your post but I was about to post something similar. I happen to find out the owner of the apartment complex here in socal, of a girl whom I used to date. She told me that she was not happy with her landlord. It turns out, the landlord is the actual owner who also does the property management along with her boyfriend. She is in her 70s and owns a few apartment complexes and have sold some in the past. Anyways, I would like to plant the seed too and find out if they have any interests in selling.
@Justin Eaton That is an awesome letter of introduction! I just need to tweak it for my situation. I don't have an LLC but I am real estate investor and know someone who is an apartment syndicator here in socal.