The Famous "I want to buy your house" Letter! NEED HELP!

[Rebecca Cramer]

So we want to go for deal #2 but there is a problem, the neighborhood we want doesnt have the right house on the market. I know exactly what I want and know the 25 houses in the neighborhood that has what I want. So I guess I need to write them a letter, right? Problem is that Ive never done this before and while I want to add my own bits to the letter with some of our "story" I could really use a few examples to get started. Anyone feeling generous and want to give me an example of a full letter they have seen or used? Also, should I knock on their door or leave it in their mail box? Should I try to meet them? Lastly, we would not be able to buy it outright. We would only be able to put 10%-20% down and do a conventional 15 year mortgage on it. I guess a real estate investor loan, right? Has anyone else tried to write these letters doing the same thing and not wholesaling it ?? Does this even work??? Any help would would be fantastic! Thanks!

[Jim K.]

@Rebecca Cramer

Here's my list of tips:

1. Don't bring Jesus into it. I've received a number of letters that include the salutation "God Bless". God bless who? You? Me? Your business? My suspicion is that there's some guru out there telling people to add it to their letters, and it's both smarmy and low.

2. CA$H is not a word. I've seen this and it really smacks of the gutter.

3. Handwriting is dead. Sub-literate scrawl can be offensive to those who have actually studied formal systems of cursive writing. Better a printed letter than one obviously penned by someone who has no idea what any of these systems look like and obviously couldn't care less about it.

4. Don't send pictures of your family. Yeah, it happened. And the investor had a BIG reality-show-sized family, ranging from early college age to babe-in-arms. Why do I need to know how virile his loins are, how fecund his wife is, and his obvious views on French letters? Yes, I did look at your profile pic. Two kids is not what I'm talking about. Think "volleyball team."

5. Answer the phone. If you can't answer it, have someone who will. Don't get on BP and complain about how few people left detailed messages for you to contact them at your leisure.

6. Be prepared with a ballpark number. When you call a letter-writer and he plays twenty questions with you before he tells you that he'll call back with an offer...again, don't get on BP and complain about how few actionable leads you're generating or how many rude things you've been told on the phone.

7. Do not be cagey about self-financing. When I want to unload a house, I don't want to wait for my money.

8. Don't lie about flipping the place yourself if you plan to wholesale it. You have no idea who the seller really is or who he knows.