I need help with ideas for vacant home owners to contact me. I have clearly identified vacant houses where there is definitely nobody living. I have found the owners and contacted them through emails and letters I personally sent. Nobody has gotten back to me. Why would a property owner who has a run down house not want to sell it? I mentioned in my contact that any property, any condition, no repairs needed . Can anybody give me any insight to this? Much appreciated!
Investor · Honolulu HI & Los Angeles, CA · Member since 2018 · 370 posts · 178 votes
1y
Aloha @Barbara Cordon, not all vacant houses are the same. There is usually a story around why the house is vacant.
1. No Heirs - Title holder(s) pass away - no kids, no family. No one pays the taxes - thus eventually goes into a Tax foreclosure
2. Nostalgia - Family property, lots of memories, house is payed off. Someone pays the taxes. Family does not have money to renovate. Sits there vacant, family will deal with it "later".
3. Probate - Heirs don't have funds to initiate the probate process.
Based on the scenarios above, your approach may differ. 1. Skip trace to find an Heir. Newspaper Archives and Obituaries are good sources to find the Heirs. 2. Usually its the Baby Boomers and X'er that are motivated to sell. I would try to connect with those family members. 3. Offer to fund the probate with an option to purchase the property.
I would door knock the owners and see if they are in scenarios 1, 2 or 3. Please DM me if you need some additional tips.