That abandoned potential deal

[Roddy A Roman]

Hello BP family. I am a newbie starting out in Florida, Miami to be more specific and I am looking for good deals. I been looking in the area for houses that seem abandoned and I have seen a couple. I searched the public records and I can get the owners information. I been thinking about sending a letter just to introduce myself and ask if they have any interest in selling the property. I would even take a picture of the exterior of the house and maybe put on the letter just so they can see the property I am talking about. What do you guys think? Is is a good idea? Is it ok or even legal to do this? 

Thank you 

[Nat C.]

For every abandoned property in Miami, the owner has already been sent dozens of letters. Miami is one of the hottest property markets in the US which is saturated with investors and wholesalers.

When you find an abandoned property I recommend you do the following-

*Check the mortgage details/how much is owing

*Check for property liens and open permits

*Do a complete background check of the owner so you can understand their personal and financial situation

The above research will give you more background information to understand why this property has been abandoned and what the owner needs. From there you can formulate what the best approach would be.

You then need to undertake PI work to track the owner down, which involves looking through public records and speaking to neighbors. It can take months to locate someone.

When you finally find them, you will approach them not as a transactional broker but as a friend. You first need to establish a relationship and gain their trust.

Selling a property is an emotional experience for many. They will never sell to you if you don't have rapport and trust.