Best Way to COntact off market Multifamily Owners

Multi-Family and Apartment Investing
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Best Way to COntact off market Multifamily Owners

Kesha Hamilton
Memphis, TN · Member since 2021 · 41 posts · 6 votes

I have a list of all multifamily in my area and wanted to know what's the best way to approach them by mail since I don't have their number. Should I send them a handwritten/yellow letter, or a more formal, typed professional looking letter?

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Percy N.
Developer · Philadelphia, PA · Member since 2015 · 2k+ posts · 905 votes
4y

Depends - are you trying to contact MF with less than 20-40 units or over 100?

We get letters from people thinking they are buying a 10 unit $2mm property when the property is worth $50mm. Most large apartment owners won't waste time with these type of "offers".

You have some luck with a small Mom & Pop owner but I would say try to hone in your target property criteria as much as possible.

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  • Joshua JanusBusiness Member
    Realtor · Cleveland, OH · Member since 2021 · 1k+ posts · 1k+ votes
    4y

    If you want to put in the time and effort, writing a handwritten note with your story on top of a phone call would be really effective. That is a lot of time involved but you could find yourself a really good off market deal that way. 

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  • Stephen KeigheryBusiness Member
    Rental Property Investor · New Orleans, LA · Member since 2018 · 717 posts · 555 votes
    4y

    @Kesha Hamilton both. Also skip trace them and try a phone call as well.

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  • Christopher Burge
    Chattanooga, TN · Member since 2021 · 23 posts · 18 votes
    4y

    @Kesha Hamilton - I am new to REI so take this with a grain of salt but from what I have read and learned from others, you could use direct mail marketing. It sounds like you may already have their address so you could write them letters. From what I have read/heard, handwritten seems to more successful. There are several articles on BP about what to put in there. Hope this helps and keep at it!

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  • Kesha Hamilton
    OP
    Memphis, TN · Member since 2021 · 41 posts · 6 votes
    4y

    Thank you all!

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  • Jp KilduffPro Member
    Wholesaler · Brevard Co. Florida · Member since 2016 · 395 posts · 76 votes
    4y

    You can also submit the address and owners names (pubic record) to a skip tracing company to get back landline, wireless, and email address contract information to contact them that way as well. Find a  Skip tracing company with flexible pricing options and no long term monthly commitment if you're just starting out. Let me know if you need more information or if you need a referral link. 

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  • Percy N.
    Developer · Philadelphia, PA · Member since 2015 · 2k+ posts · 905 votes
    4y

    Depends - are you trying to contact MF with less than 20-40 units or over 100?

    We get letters from people thinking they are buying a 10 unit $2mm property when the property is worth $50mm. Most large apartment owners won't waste time with these type of "offers".

    You have some luck with a small Mom & Pop owner but I would say try to hone in your target property criteria as much as possible.

    1Reply
  • Kesha Hamilton
    OP
    Memphis, TN · Member since 2021 · 41 posts · 6 votes
    4y
    Originally posted by @Percy N.:

    Depends - are you trying to contact MF with less than 20-40 units or over 100?

    We get letters from people thinking they are buying a 10 unit $2mm property when the property is worth $50mm. Most large apartment owners won't waste time with these type of "offers".

    You have some luck with a small Mom & Pop owner but I would say try to hone in your target property criteria as much as possible.

    This will be my first multifamily project (I've done residential). And since it's my first, I'm looking to stay at about 20-25 units max. 

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  • Kesha Hamilton
    OP
    Memphis, TN · Member since 2021 · 41 posts · 6 votes
    4y
    Originally posted by @Jp Kilduff:

    You can also submit the address and owners names (pubic record) to a skip tracing company to get back landline, wireless, and email address contract information to contact them that way as well. Find a  Skip tracing company with flexible pricing options and no long term monthly commitment if you're just starting out. Let me know if you need more information or if you need a referral link. 

    Yes, please send the link..Thank you!

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  • Cameron Braig
    Atlanta, GA · Member since 2021 · 493 posts · 162 votes
    4y

    If looking for a direct mail provider, Ballpoint Marketing could be a good fit. They have different template types to allow for multiple ways of outreach and campaign styles. The team also has a real estate background so they can help with best practices and different use cases to stand out. Best of luck and hope things progress well. 

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