Contacting an apartment owner
Hello! I could really use some suggestions for my first time reaching out for a potential deal. I would like to contact the family that owns the apartment complex I currently live in to see if they are interested in selling, however, I am new to the business of REI and I have to be creative.
The owners owe little, to nothing, on the property (unless there was a refinance that I was unable to see). It is a 9 unit complex in Ocean Beach (San Diego) with solid rent and great potential, given some TLC and updating.
This is a very expensive area so I do not have the 20% down payment, or the income for a conventional loan, which means I have to see if they are willing to seller finance.
How do you think I should approach them? By phone? Letter? Knock on their door? And how should I approach the seller financing aspect?
I know I am asking a lot, but any advise is much appreciated!!