All Forum Posts by: Patrick Flanagan

@Stephen Brown

Awesome info thank you!:)

@Scott M.

Thank you Scott!

@Jeffrey Donis

Thank you for the response!

@Yoann Dorat

Thank you for the information. What is skip tracing? Or skip tracing llc’s?

I’ve had some awesome people on BiggerPockets tell me how they find small apartment buildings. The gap is convincing the owner to sell.

My question is what would you write to a owner that would make them really think about a offer. Me personally, there really isn’t much a investor could tell me to convince me to sell my 4 plex. So do I need to keep grinding until I find that one person that’s tired of their apartment unit?

Maybe I could find a under preforming 5-16 unit building that looks really run down. So I know I could add value, rehab the Property, increase rents, lower costs(all new water fixtures, water fixture flow reducers, smaller sized toilets to flush less water) then refinance the property after repairs.

Then go to them with what seems like a way over the top offer.

Let me know what you think about this “direct mail market letter”

“Hello my name is Patrick flanagan, I’m 27 and I saw your apartment building. Like my self, I see that you value real estate. The Benifits of real estate is so powerful! What if I could offer you a deal where you get a monthly check, you won’t have to manage tenants, toilets, or vacancies anymore. I understand how valuable your time and money is. So I’d like to offer to buy your property and give you the passive income of still owning this beautiful building. This will allow you to have more free time, while collecting a nice check each month.

If this is something you are interested in please call me.”

So id offer bank financing, then have the owner on a second position. So I’d owner finance a chunk of the loan and pay the owner a monthly check.

@Alyssa Dyer

That’s totally true, it’s so hard for your mind to actually focus unless you start to narrow things down!

@Justin G.

That means a lot thank you Justin!

@Jason Bohling

Have you rode the electric scooters down town? I had so much fun doing that. Or hanging out at lucky peak.

It’s beautiful there

@Don Spafford

Don great info, do you have a realtor you recommend?

As I’m building my portfolio, I committed to my self that I’m going to give this business of passive real estate investing my full attention. All the books I’ve read said find out what systems and process work the best so you can scale.

So what exactly would a passive real estate investing plan look like?

My goal is to have 100 units of small multi family’s and smaller apartment complexes in 10 years.

I want to construct one, so I can print it out with my goals and look at it every day.

Thank you for the help