Thoughts on dealing with unsolicited cash buyers?

[David Kim]

Hey, I'm curious what people's thoughts are on unsolicited cash buyers reaching out about commercial properties.

I'm at a place where I probably want to sell in the next 3 years or so, so while I'm happy to walk away from crap offers, I'm also starting to be interested in listening to them, doing some play negotiating to see how high I can pull it, and generally pay more attention to the market.

Every now and then, I get a snailmail that reads like, "I'm a small real estate investor, interesting in paying CASH for as-is, and a fair price - no escrow/title, no real estate agents to pay, we can get it done in less than 4 weeks."

1) Are these things even worth responding to, or are they pretty unilaterally bad deals where they try to majorly lowball you and it's a waste of time?

2) In the unlikely case you're actually interested in proceeding, how do you vet these kinds of folks? My biggest concern is that it might be an identity theft scam, since this kind of deal mightrequire a lot more personal information that I'd normally be interested in providing (though hopefully through the LLC, I don't need to provide things like my personal SSN, since there's no credit checks and background checks happening).

Interested in any thought on this. Thanks!

[Anthony King]

@David Kim I always mess with them. They will ask how much I'm looking to get, and I'll say "you called me buddy, I'm not looking for anything". They will try to get you to name a price. Wait for them to give you a number then when it's 50% below what you can get on the market laugh at them and say, "good luck, pal, I'm not your guy".