Approaching -Plex Property Owners

2 Replies

I've located several -plex properties in town - none of which are for sale.

The owners live in-town (not in the actual properties, though), and I'm considering approaching them to see if they want to sell. 

In the past, I've done yellow letters, but I'm not inclined to use that approach with these folks. If they don't want to sell, no problem. However, I'd like to be able to build a relationship (of sorts) with them, and be the person they call when they ARE ready to sell.

Any thoughts on a novel approach to these folks?

Hi @Todd G. . I am negotiating in a similar situation right now. I was out for a walk and spotted the most perfect property to own. I am an agent, and used my easy-access property records to get the name and address of the owner. I sent her a letter with a touch of personal information because she has owned the property almost forever.

She called me when she received the letter, saying she didn't want to sell that particular property, but that she has another one she is considering selling. She gave me the address, I checked it out, and now we are talking.

My letter is exceedingly polite. I offer to purchase the property in the next few years, should they wish to sell it.

In my market, there are no deals. It is just too hot, with too many investors. I offer to pay fair market price and closing costs. I offer creative financing options to spread tax liabilities over several years. I offer closing at their convenience.

I think yellow letters can get you some great deals. Just because these owners don't currently have the property listed doesn't mean they aren't toying with the idea. Some yellow letters can be pushy. Just let them know you are interested in buying should they ever wish to sell. Make YOU be the easiest one for them to sell to.

Prosser, WA doesn't look to be all that big. Any chance you know someone who knows them?

Hi Mindy ~

Thank you for your insight & experience on this topic.

Indeed, I connected with the assessor's office & gathered the details on the respective owners. Now, it's a matter of connecting - and I like your idea of the 'touch of personal info'.

Yes, Prosser is small & I am certain someone I work with may know the owners - I'll consider that option.

Thank you for your input!

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