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Hello All,
So there is this multi family property I am very interested. The listing recently got taken down but the property was not bought. It has a good cap rate and everything was recently updated, head to toe. I want to mail the owner and ask to buy this property. How do I start this letter? Or does anyone have a template to go off of?
Has anyone done this before? What are the chances the owner will get my letter with a property management company in place?
I look forward to this discussion! Thanks!
- Real Estate Broker
- Cody, WY
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Quote from @Melis Torres:
I would be very cautious. If it's a good cap rate and fully renovated, why didn't it sell? There may be something very wrong with it.
I wouldn't overthink this. No magic letter will guarantee success. Just write it as yourself and see what happens. I recommend keeping it short for the initial attempt.
Nathan,
You may be right. Thanks, I'll give it a try and hopefully dig out the reason!
- Property Manager
- Royal Oak, MI
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Be prepared to followup numerous times.
Highly likely the owner will treat your letter like junk mail.
-
Property Manager
- 248-209-6824
- http://www.LogicalPM.com
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