Letter of interest to landlord

[Samantha Lotti]

Hi all!  I have found a property that I am interested in.  The property is not up for sale, but after some research, I have found that the owner is behind on property taxes.  Also, the owner lives out of state.  I am curious if anyone has any advice on addressing the owner by mail about possibly selling the property without coming across as snooping into his business.

Thank you!

[David Cruice]

Keep it simple.  Send a short, handwritten letter telling the owner that you're interested you'll be interested in buying his property should he ever wish to sell.  Don't mention that he is behind on his property taxes.   He'll already know that and just feel that you've been snooping.  Mention the fact that he'll be saving on Realtor commissions should he sell privately, plus he'll have tax advantages should he wish to offer some seller financing, i.e. not getting hit with capital gains tax, etc.  A win-win for the both of you.  However, with that said, keep in mind that you've only get a very small chance of him contacting you.  Keep driving your neighborhood, locate properties you like, and, if you have the opportunity, simply ask one of the tenants, "Who do you call when there's a problem".  A lot of times, especially on smaller properties that you're going to be interested in, the owners self-manage and you might be able to get  the owner's phone number.  Worst case scenario is that you get the property manager's number.  Then call the PM and ask them if they have any owners who are looking to sell.  Good luck!