Sending Multi-Family Mailers

[Matthew Barnett]

Hello everyone! 

We want to go all in on sending out mailers to Multi-Family owners and get a deal under contract this quarter. 

I do not have CoStar and until after our first deal it isn't something in our budget, I was sent Reonomy but... personal preference not a fan. What are some things, sites or skip tracing services you guys are using to pull lists of Multi-Family owners to send mailers? 

Thank you in advance! 

[Rob Gillespie]

@Matthew Barnett CoStar used to drive me nuts with the amount of calls they would have to verify my occupancy and what tenants were paying!  LOL

Think of your perfect seller...

Older

Not up with the times

Renting below market value. 

Made that building work because they did maintenance and management themselves. 

Owned it for a long time

Owe very little if anything at all. 

Kids are fed up with hearing about tenants there entire life and want nothing to do with real estate. 

Now with that said, what do you look for. Long term ownership. Low Loan to value with very little debt. Low tax amounts. many of the properties will be in a PERSONAL NAME not an LLC.

Now think of the type of letter you would write him/her...

Hand written

first class stamp.

small personal invitation type envelope. 

Tell him/ her that you are looking for a building to buy for your families future and you intend on 

taking great care of it personally.  Etc... 

Relate to the seller as much as you can. Perhaps reach out to the kids though skip tracing with a letter that you specialize in buying buildings from families that have owned and operated them for years. 

This is a game of farming, not hunting. when you find someone, it may take 3 years of letters every couple of months before you get a call. 

Hope that helps.