Is it worth direct mailing to "slumlords" or other investor LLCs?

3 Replies

Hi, BP!

I'm starting a direct mail marketing campaign and am curious. I get a little heated when I find properties that are owned by other companies, investors, or the like and they are not taking care of the property and it doesn't look like they have plans to (based on time frame of ownership). They do not want to make it better, make the city better, nor help create a better standard of living for their tenants. Many of the properties may actually be vacant, from the looks. 

My question is, is it worth direct mailing to these people? Before I spend my money to get them to sell to me... why would they want to sell if they have a tenant in place and they don't care to change anything about the property? What would make them "motivated?"

Thank you in advance, 
and I don't mean offense by saying "slumlord," in case that bothers anyone. It's just easier for a short title.

Amber

Originally posted by @Amber H. :

Hi, BP!

I'm starting a direct mail marketing campaign and am curious. I get a little heated when I find properties that are owned by other companies, investors, or the like and they are not taking care of the property and it doesn't look like they have plans to (based on time frame of ownership). They do not want to make it better, make the city better, nor help create a better standard of living for their tenants. Many of the properties may actually be vacant, from the looks. 

My question is, is it worth direct mailing to these people? Before I spend my money to get them to sell to me... why would they want to sell if they have a tenant in place and they don't care to change anything about the property? What would make them "motivated?"

Thank you in advance, 
and I don't mean offense by saying "slumlord," in case that bothers anyone. It's just easier for a short title.

Amber

Good to meet you.  

Motivation is certainly required.   Why people sell will amaze you.   Most are just tired.   

Our money solves their problem.  

I have a series of 90 live real seller call podcast episodes who for different reasons decided to sell.  

I’ve learned over the years of buying hundreds upon hundreds of houses the there are a couple things to do well.  Build your list and learn negotiation.  

Happy house hunting.  

Yeah it’s worth it ! Look ,Landlords get burnt out and when you wave money in front of them they get thinking real quick . A lot of baby boomer landlords are retiring at 60-65 and just don’t care to dump any money into their properties anymore because they are on the verge of closing up shop . In fact the ones that don’t improve their property seem to be the most eager to sell and get out of it . Craigslist is full of multifamily houses for cheap by guys just sick of dealing with people and could use a lump sum to pursue other ventures . The worse the condition the better ..this allows you to buy in cheap and do the forced appreciation upgrades ..resulting in a better product for the tenant a nicer place for the city and much more potential in a brrr refi situation to get you more cash