Buying a property that is not for Sale

[Peter Hagemann]

I am interested in a property that I have 2 properties a 5 and 6 flex adjacent on one side and a 4 plex adjacent on the other side of desired property.

From what I understand the current owner is 86 years old lives in Ft Walton beach in the Florida Panhandle 8 hours north of subject property, he has never seen the property and received it in an inheritance when his father had passed away.

Sent the owner a personal letter telling him who I am and what we have been doing to the properties, total renovation to these 1950s buildings and if he would be interested in selling. 

owner responded with a voice mail to wife that he might be interested in selling in future and he would keep us in mind.

A couple months went by heard nothing else.

Sent him a unsolicited offer of 2.25 million that felt was a fair offer based on several other properties that have sold in the area.

Never got a response.

Had a conversation with his Real Estate lawyer over a neighborhood issue, told lawyer that I had sent a offer, lawyer said she talked to him and only response was "Might sell for right price" 

Have not been able to engage conversation to find out what " Right Price " might be.

I am kind anxious  One, because of his age, 86 years old. Two, because there are a couple of other properties on my radar.

If I buy one of the other properties and he comes back 6 months to a year later and says he will sell probably won't be able to. Only so much money to go around. His property is my # 1 choice.

Have thought bought driving 8 hours north to knock on door to introduce myself in person. Wife thinks might be creepy, Thought about Sending another letter to see if I could come up and and take him out to lunch or dinner to get to know one another .

It's been 6 months since 1st Letter introducing myself.

Looking for thoughts or suggestions.

Pete