Best Way To Approach an Off-Market Deal?

[Quy Huynh]

Hi All,

I'm looking for a duplex downtown to buy it so that I can live in 1 unit and rent out the other. My plan has been to find "for rent" signs in the neighborhoods I want, call the Landlord's and basically ask them to sell. I've stuck out a few times and am wondering what are some methods you guys use to increase your chances of conversion with these owners? It's difficult to create demand for an offer when the seller has no urgency, but I am sure there are certain things you can do to increase your chances just a bit? 

Thank you! 

[Gene Hacker]

I have approached off market sellers a few ways in the past...

1 - letter campaigns...I try to look unsophisticated.  Just a true hand written note about how I am considering buying a property in the area and heard they may be interested in selling.  They key is not to sound like a company or a pro.  You want them to think you are capable but let them think they know a lot more than you.

2 - Call on rentals, ask if they would consider selling it.  Again let them think you are capable but not sophisticated investor.

3 - go to small claims court and talk to landlords leaving that just had to deal with a formal unlawful detainer proceedings.  Sometimes these guys are the ultimate "motivated sellers".