New to BP, question about reaching out to a potential seller
Hello good people of BP,
I am Ty, an architect and a contractor from Bethesda, MD. My day job is designing high rise residential, mixed use buildings all over east coast and my passion is to design and gut rehab single family houses and townhouses. I bought and gut rehabbed 1 townhouse and renovated 1 single family house to date, and purchased a vacant lot to build my first new single family house. Both properties have been very profitable due to the fact that i completely redesigned them in the modern style that i am accustomed to designing and people love them. Anyway, i have a sort of marketing question, i am interested in a property that's been up for rent for a while but not sure as to how to approach the landlord. A cold call, a letter, knock on his door? How does one go about approaching a non-seller to sell his property, apart from the non-discriminating mass mailing? Looking forward to learning, contributing and meeting you all. Thanks.
Welcome to BP Ty!
You have found a great resource and community here! I would always recommend approaching the owner in person if you can, and then by phone. A last resort would be by mail. Approaching in person gives you the advantage of really finding out what is going on with the property, and you can often get a tour. (I have found that owners like to show and talk about their units...the good, bad, and ugly.) Cold calling can be intimidating at first...but view it as an opportunity to solve this owner's possible problem. Be ready to give concrete ideas of how you can help, and be prepared. (Have your numbers in mind, after your due diligence.) Mailing is the least personable, and the least effective. Good luck, and let us know what happens!
All the best,
Lauren Heart
It being up for rent 'for a while' sounds like the perfect opportunity to inspect and strike up the conversation of rather buy than rent.
Have u already (visit/inspected)?
Thanks @Lauren Heart. I think, i'll go pay him a visit. @Neil G. Doesn't it? That's what i thought, it's been sitting there for a while and i'm thinking he may have gotten tired already.Thank you both.