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Updated about 2 months ago, 10/03/2024

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5
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Melis Torres
  • Homeowner
  • Salem, OR
0
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5
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How do I....

Melis Torres
  • Homeowner
  • Salem, OR
Posted

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!

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Nathan Gesner
Property Manager
Agent
Pro Member
  • Real Estate Broker
  • Cody, WY
40,172
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27,295
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Nathan Gesner
Property Manager
Agent
Pro Member
  • Real Estate Broker
  • Cody, WY
ModeratorReplied
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 Gesner
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The DIY Landlord
4.7 stars
150 Reviews

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5
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0
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Melis Torres
  • Homeowner
  • Salem, OR
0
Votes |
5
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Melis Torres
  • Homeowner
  • Salem, OR
Replied

Nathan, 

You may be right. Thanks, I'll give it a try and hopefully dig out the reason!

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8,199
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Drew Sygit
Property Manager
Agent
#2 Managing Your Property Contributor
  • Property Manager
  • Royal Oak, MI
4,792
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8,199
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Drew Sygit
Property Manager
Agent
#2 Managing Your Property Contributor
  • Property Manager
  • Royal Oak, MI
Replied

Be prepared to followup numerous times.

Highly likely the owner will treat your letter like junk mail.

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Logical Property Management.
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