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Updated over 7 years ago on . Most recent reply

User Stats

16
Posts
2
Votes
Wade McMaster
  • Real Estate Agent
  • Herndon, VA
2
Votes |
16
Posts

Advice for approaching an owner that isn't yet a seller?

Wade McMaster
  • Real Estate Agent
  • Herndon, VA
Posted

Ok, so I'm way out of my depth, but I'm going tomorrow to try to introduce myself to the owners of the large apartment complex where I live. (You may have seen the discussion I started when I was trying to look up who the owner was and how to contact them.) I've estimated the property has over 200 units, I haven't had time to hand-count them yet, don't know if I can look it up easily. 

Anyway, I'm not sure what I want to say to the owner. I'm the kind of guy who likes to play things close to the vest, and I think I'll keep it to myself for now that I want to sign a win-win master lease with them and replace their management company - maybe not mention that I'm a resident at a property they own - maybe just introduce myself and see if they have time to answer some questions from an aspiring real estate investor. Does anybody have any experience with a situation at all like this? Any wisdom from experience you folks can share?

Most Popular Reply

Account Closed
  • Investor
  • Scottsdale, AZ
885
Votes |
1,164
Posts
Account Closed
  • Investor
  • Scottsdale, AZ
Replied

@Wade McMaster If the place has over 200 units be prepared to put 25% down. Most people do syndication for this size project.

Not to put too fine a point on things but "Ok, so I'm way out of my depth" might be an understatement. ;-)

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