Cold Emailing Property Owners??

Cold Emailing Property Owners??

New to Real Estate · Rochester, MI · Member since 2018 · 50 posts · 17 votes

Hello Everyone! 

I'm excited to be part of this community and I am hoping that all of you can help provide some insight into how I should approach this situation.

Quick background: 

I currently own 4 homes in Flint, MI that I rent to Kettering University students. Home location is crucial since Flint is not the safest area, therefore choosing the right area to buy in is typically known by those who attended the school. The home cost, on average, is $60k and the rent is between 1800 - 2000 per month. Needless to say I want to expand this portfolio as much as I can in order to take advantage of this ROI.

Current Dilemma: 

I have sent cold letters to the homes in an attempt to identify potential sales not available on the MLS, but to no avail. My suspicion is that the tenants toss the letters and that they aren't actually making it to the property owners. Using the property gateway for Gennessee county, I am able to find the actual names of the owners (not just the property management company). Using the name, I am able to use either Linkedin or Facebook to obtain their email addresses. I want to utilize this information and obtain deals in that area, but I wanted to see if anyone else has had success doing this.

I know that cold calling / sending letters is a big thing that a lot of aspiring property investors have utilized, but have any of you had luck with sending cold emails. If so, did you follow a particular format or just send an email letting them know you want to buy their crib?

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Real Estate Broker · Portland, OR · Member since 2019 · 4k+ posts · 2k+ votes
6y

How do you intend on getting eMail addresses?  In general, phone calls work the best, then, unfortunately, the easier/quicker the media, the less effective.

Am an apt broker, I use eMail for a monthly report to just worm up people for my periodic phone calls.

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  • Real Estate Broker · Portland, OR · Member since 2019 · 4k+ posts · 2k+ votes
    6y

    How do you intend on getting eMail addresses?  In general, phone calls work the best, then, unfortunately, the easier/quicker the media, the less effective.

    Am an apt broker, I use eMail for a monthly report to just worm up people for my periodic phone calls.

  • Investor · Youngstown, OH · Member since 2017 · 2k+ posts · 2k+ votes
    6y

    How many letters did you send? How often are you sending them?

  • Rental Property Investor · Cincinnati, OH · Member since 2020 · 380 posts · 588 votes
    6y

    @Adam Cole I find phone calls and text messaging work a lot better then email in this space.  I agree with @Steve Morris it is always good for a cold email first to build rapport. 

  • New to Real Estate · Rochester, MI · Member since 2018 · 50 posts · 17 votes
    6y
    Originally posted by @Steve Morris:

    How do you intend on getting eMail addresses?  In general, phone calls work the best, then, unfortunately, the easier/quicker the media, the less effective.

    Am an apt broker, I use eMail for a monthly report to just worm up people for my periodic phone calls.

    Hi Steve! 

    I typically find the email addresses in their LinkedIn profiles or through Facebook. However, I am not always successful with this. I think that you are correct in saying that phone calls will be number 1. And for those that I can't find phone numbers for, I will be more persistent in sending letters.

    Thank you for your reply!!

  • New to Real Estate · Rochester, MI · Member since 2018 · 50 posts · 17 votes
    6y
    Originally posted by @Nicole Heasley Beitenman:

    How many letters did you send? How often are you sending them?

    Hi Nicole!

    I typically send letters once per quarter. Normally the students cycle through the homes every 3 months, so my guess was that they'd be more apt to sell once the changeover is approaching. 

    Do you think increasing the frequency is a good idea? 


    Adam
     

  • New to Real Estate · Rochester, MI · Member since 2018 · 50 posts · 17 votes
    6y
    Originally posted by @Tanvir Sattar:

    @Adam Cole I find phone calls and text messaging work a lot better then email in this space.  I agree with @Steve Morris it is always good for a cold email first to build rapport. 

    I think you're right Tanvir. Thank you for your reply. I am going to give cold emailing a shot and see if I can get any responses. I was trying to put myself in their shoes and if someone called me wanting to give me money, I'd probably think about responding lol


    Adam 

  • Tara S.Pro Member
    Real Estate Agent · Mesa, AZ · Member since 2019 · 125 posts · 60 votes
    6y

    @Adam Cole

    When doing direct mail marketing you don’t send the letter to the address you want to buy you have to dig into the public records and find the owners address. If you message me I can send you the sites I use.

  • New to Real Estate · Rochester, MI · Member since 2018 · 50 posts · 17 votes
    6y
    Originally posted by @Tara S.:

    @Adam Cole

    When doing direct mail marketing you don’t send the letter to the address you want to buy you have to dig into the public records and find the owners address. If you message me I can send you the sites I use.

    Thank you so much for being willing to help me!! I'll message you right now


    AC 

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