Letters to send landowners to see if they want to joint venture

6 Replies

I'm an aspiring property developer, and I've found 6 parcels of land that would make a great small development. 3 have already indicated they wanted to sell, but their MLS listings have expired. The other 3 combined with them would make it a great property for development. Do you have any recommendations on how to structure a letter to see if they would all want to joint venture a development? Are there example letters on BP or elsewhere? thanks!

Updated about 1 year ago

I have an extensive background in real estate brokerage so I know much about the industry, just not property development.

Originally posted by @Kai Ohs :

@Michael Schumpert still pursuing this??

 Yes... rather than get into the details of joint venture, I just sent out several hand-written brief notes saying I was interested in potentially purchasing their properties and to call me. No one called. I know I'll need to be persistent, but I don't know what verbiage might be most effective...  

Originally posted by @Michael Schumpert :
Originally posted by @Kai Ohs:

@Michael Schumpert still pursuing this??

 Yes... rather than get into the details of joint venture, I just sent out several hand-written brief notes saying I was interested in potentially purchasing their properties and to call me. No one called. I know I'll need to be persistent, but I don't know what verbiage might be most effective... 

This isn't true in all areas, but a lot of rural land owners do not want to sell their land to developers. It goes against the reason why a lot of them purchased the land in the first place. Many people buy land for hunting, recreation, farming, rural home development, etc. Many land owners also have ties to their "neighbors" who also don't want to see rural land developed. Again, certainly not true in all areas, but something to consider when you approach land owners. 

 

Originally posted by @Justin Tahilramani :
Originally posted by @Michael Schumpert:
Originally posted by @Kai Ohs:

@Michael Schumpert still pursuing this??

 Yes... rather than get into the details of joint venture, I just sent out several hand-written brief notes saying I was interested in potentially purchasing their properties and to call me. No one called. I know I'll need to be persistent, but I don't know what verbiage might be most effective... 

This isn't true in all areas, but a lot of rural land owners do not want to sell their land to developers. It goes against the reason why a lot of them purchased the land in the first place. Many people buy land for hunting, recreation, farming, rural home development, etc. Many land owners also have ties to their "neighbors" who also don't want to see rural land developed. Again, certainly not true in all areas, but something to consider when you approach land owners. 

 

Thanks for the feedback. Several of the properties were actually suburban in-fill. One of my endeavors was to compile several with smaller acreage into a larger one to then develop. I figured it might be difficult, but thought that if I could get one or two owners interested, I could get the others interested also. Especially, since a couple of them had been on the market recently. I'm not sure why at least those owners didn't respond.

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