How are you marketing to owners with large properties?

Question

Hey! How are you marketing to owners with large properties?

What I'm meaning by this is, when it comes to large properties (apartment complexes, motels, etc) are you marketing to the owners like you would regular SFR's? Ie; are you sending yellow letters and ugly postcards? Or are you doing something more professional?

Joe Bertolino · Answer

apartment owners for my insurance business.  We telemarket using the Costar database.  Most property owners at that level are very sophisticated and are probably not good targets for wholesaling IMO.  They get calls from brokers on a monthly basis and they generally have a good idea of what their property is worth.  It may work under 8 units as I do see some out of the area rookies that bite off more than they can chew with a rough 2/4/6 unit property and want to get out.

Jon Klaus · Answer

Chris, I'm just marketing to home and lot owners now, mostly with mail.  If I were going after commercial, I'd add cold calls, and even stopping into the property if they were likely to be there.  Even if they were not there, I'd gather intelligence about the property and owner.

Account Closed · Answer

Hi Chris,

I am about to send some letters to 7+ unit owners. How'd you make out? Did you wind up sending yellow letters?

Michael Finkelshteyn · Answer

Sam Craven how big are these multi-families that you're targeting? I've been looking for quadplexes, but there is nothing good on the MLS so I am looking for wholesalers that can find some for me.

Sam Craven · Answer

We are tracking down some multifamily deals for us, but the ones that are not a good fit for us and our investors we will wholesale.  I'll reach out on PM.

Joe Bertolino · Answer

I market to large a

Todd P. · Answer

Sam Craven are you doing this for wholesaling purposes or is this for your own investment opportunities? Asking because I'm looking for a multifamily deal. Thanks

Chris Williams · Answer

Those are good ideas. Thanks guys. I get a good response with yellow letters to 10 units or less, but i haven't really tried to market to larger properties. I think it will have to come down to trial & error.

Sam Craven · Answer

Chris, we just started doing driect mail to multifamily properties in houston.  I built the list myself using the database provided by the local appraisal district and then each property got a letter sent to the property location, and the location where the tax bill is sent.

our response rate was on the low side but it was also our first mailing.

How are you marketing to owners with large properties?

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