Vacant properties driving for dollars, how to market?

Vacant properties driving for dollars, how to market?

Investor · Prince George, British Columbia · Member since 2016 · 62 posts · 12 votes
So I’ve passed a couple houses now and then that continue to look vacant, after keeping my eye on them I’ve been trying to look for any signs of movement but have yet to see anything. I’m not sure these are motivated owners or not and I wouldn’t want to come across as someone preparing a low ball offer and end up pissing them off. How should I go about marketing to these people for the best chance of getting these properties at a favorable price. One is owned by a housing society and they are currently building a large apartment style building. I haven’t seen any activity in this house for a longtime and I can see it needs updates for sure but it looks mostly just out dated. I can’t see them needing this house when the building is finished and I can’t see them rehabbing it for sale either. The second I think is a rental but has been vacant for at least a little while, there hasn’t been any work, cleaning, or showings that I can see and I drive by it almost daily. It too needs updating, probably some maintenance but I’m not sure how deep the rabbit hole goes. What kind of advice can I get from the marketing and wholesale community to get their attention and make this happen for the right number?
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Charlotte, NC · Member since 2014 · 126 posts · 37 votes
8y

Hey Jack, In my experience you want to not focus on business owners, inc, llc's, etc... Also you don't want to put the cart before the horse in regards to making a low ball offers. Build rapport instead. You need to find the owner name via your local tax assessment website. Then you want to skip trace the owner to find their phone number using zabasearch, whitepages premium, tlo, spokeo, etc... You need to see if they are motivated before you discuss any pricing. Some questions to ask them: would you have any interest in selling, just out of curiosity why are you selling? Let me know if that helps.

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  • Charlotte, NC · Member since 2014 · 126 posts · 37 votes
    8y

    Hey Jack, In my experience you want to not focus on business owners, inc, llc's, etc... Also you don't want to put the cart before the horse in regards to making a low ball offers. Build rapport instead. You need to find the owner name via your local tax assessment website. Then you want to skip trace the owner to find their phone number using zabasearch, whitepages premium, tlo, spokeo, etc... You need to see if they are motivated before you discuss any pricing. Some questions to ask them: would you have any interest in selling, just out of curiosity why are you selling? Let me know if that helps.

  • Vendor · Atlanta, GA · Member since 2017 · 101 posts · 47 votes
    8y

    I agree with Damien. You need to start a conversation. You might start out as simply as I drove by your property and it is something I might be interested in buying. What are your plans for the house?

    Ask if they lived in the house, are they thinking of moving back - ask about the neighborhood.

    Get into as much conversation as you can before talk about buying. That way you don't get shut down at the get-go. You might even ask to see the house if they are local. (so I am ready if you do decide to sell) Anything that helps you to build a rapport.

    Be sure to send a thank-you note.

  • Investor · Prince George, British Columbia · Member since 2016 · 62 posts · 12 votes
    8y

    I found the owners of the second house and it turns out they are the same as the other vacant house I found. I cant understand why a housing society needs empty houses for such a long period and maybe they will want to sell. Would it be best to try marketing to them some how or do a little research and cold call?

  • Vendor · Atlanta, GA · Member since 2017 · 101 posts · 47 votes
    8y

    Perhaps it's time to start a new strategy for finding property. It takes some financial investment, but mail campaigns have been an effective tool to contact people who own property you would want, who share the characteristics of motivated sellers.

    A list broker can make suggestions and provide reports detailing how many are available in each of the zip codes in your market. You might consider combining lists for your initial campaign - for instance use both Absentee Owners with Equity and Seniors with 20+ Year Ownership – maybe even combine these with Financially Distressed.

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