Flipper/Rehabber · West Jordan, UT · Member since 2018 · 13 posts · 2 votes
I recently came across a problem property I would like to purchase.
I was at a friends house and decided to drive by my childhood home. The grass was extremely overgrown, 3 windows boarded up, weeds 5 feet long coming through the cracks in the driveway, and numerous aesthetic issues.
I had my agent look up the property owners and found out it’s the same people who purchased the home from my parents back in 1999. But she also discovered they don’t live there anymore(obviously) and they live in a nice new home in sandy. I also found an old MLS that expired 185 days ago that had the house listed for about 30,000 less than houses around it at the time.
I would like to purchase this home and flip it, and I would not tell them it was my childhood home. My question is what would the best way to contact them about selling be? I have no phone number just their physical address of the new Home.
Any answers would help me greatly because I would love for this to be my first deal, just a little stuck! Thank you
I recently came across a problem property I would like to purchase.
I was at a friends house and decided to drive by my childhood home. The grass was extremely overgrown, 3 windows boarded up, weeds 5 feet long coming through the cracks in the driveway, and numerous aesthetic issues.
I had my agent look up the property owners and found out it's the same people who purchased the home from my parents back in 1999. But she also discovered they don't live there anymore(obviously) and they live in a nice new home in sandy. I also found an old MLS that expired 185 days ago that had the house listed for about 30,000 less than houses around it at the time.
I would like to purchase this home and flip it, and I would not tell them it was my childhood home. My question is what would the best way to contact them about selling be? I have no phone number just their physical address of the new Home.
Any answers would help me greatly because I would love for this to be my first deal, just a little stuck! Thank you
Hello Kevin good to meet you..
First I wouldn't lie to a prospect.
If I had the home address of the owner and it was close to me I would go say hi... If I couldn't do that then one of the neighbors probably have contact info for them... Go say hi to them.. Besides they don't want a run down property next door.
There are services that will append the telephone number and the success rate is 60-80%. Maybe do that.
Buy some 99 cent store blank card and send a series of hand written hello inquiry cards.
Flipper/Rehabber · Montgomery, NY · Member since 2016 · 2k+ posts · 1k+ votes
7y
Other more aggressive types would probably go further but I personally would send them some direct mail.
I however would 100% tell them it was your childhood home. Let them know you have seen it in disrepair and would love the opportunity to purchase from them and rehab it. Leave your name and number. Make the envelope look like something get may be getting from a family member, hand written, etc.
If you have some old photos of you at the home from 20 years ago, I would actually include that too. Show them you are being honest with them.
Flipper/Rehabber · West Jordan, UT · Member since 2018 · 13 posts · 2 votes
7y
@Brian Pulaski
My only thing is is don’t you think they would jack the price up because they think it’s a sedimental home to me? That’s my only worry about it. What other than direct mail could I do?
Flipper/Rehabber · Montgomery, NY · Member since 2016 · 2k+ posts · 1k+ votes
7y
@Kevin Leppink that is possible, however if the numbers don't work for you, move on. Explain to them that this is a business deal, have your numbers and stick to them.
Other than direct mail, there is door knocking (check local laws on this) and calling if you can get their number. Both of these are more "abrupt" in my opinion.
I recently came across a problem property I would like to purchase.
I was at a friends house and decided to drive by my childhood home. The grass was extremely overgrown, 3 windows boarded up, weeds 5 feet long coming through the cracks in the driveway, and numerous aesthetic issues.
I had my agent look up the property owners and found out it's the same people who purchased the home from my parents back in 1999. But she also discovered they don't live there anymore(obviously) and they live in a nice new home in sandy. I also found an old MLS that expired 185 days ago that had the house listed for about 30,000 less than houses around it at the time.
I would like to purchase this home and flip it, and I would not tell them it was my childhood home. My question is what would the best way to contact them about selling be? I have no phone number just their physical address of the new Home.
Any answers would help me greatly because I would love for this to be my first deal, just a little stuck! Thank you
Hello Kevin good to meet you..
First I wouldn't lie to a prospect.
If I had the home address of the owner and it was close to me I would go say hi... If I couldn't do that then one of the neighbors probably have contact info for them... Go say hi to them.. Besides they don't want a run down property next door.
There are services that will append the telephone number and the success rate is 60-80%. Maybe do that.
Buy some 99 cent store blank card and send a series of hand written hello inquiry cards.
Specialist · Branford, CT · Member since 2018 · 222 posts · 121 votes
7y
@Kevin Leppink I totally agree with @Brian Pulaski. I think in general people like to help and the sentimental angle could help them decide to sell to YOU. As absentee owners, they might already be getting mail from other investors.
I would also take advantage of your history with the house to talk to the neighbors. It sounds like you already know where they live (Sandy), but you might get some insights on why they moved and maybe why the house hasn't sold. That way you can tailor your note to them so you are addressing the issues they have.
Flipper/Rehabber · West Jordan, UT · Member since 2018 · 13 posts · 2 votes
7y
@Chrissy Arnold
Very smart point. I’m almost leaning towards going to their house once I know a little more and telling them my interests In their property and who I am. I’m sure someone else has noticed the boarded up windows and done something similar but maybe they could let it go easier knowing it was the previous owners son. Thanks for the input!