Found a potential home run! how do I find the owners contact info

[Levi Koskan]

I live in Austin, a super hot market, and I think I've found a potential home run home. 

I need advice not only on how to find the owners contact information but also on managing the relationship of a "friend" who currently lives there. So here's the dealski, follow me for a second. My wife's, friends's, boyfriend, aka the "friend", invited us over to his apartment for a BBQ. He lives just south of downtown Austin. A HIGHLY desirable area, especially for young single professionals. It's a three unit property that was built in 1973. We get talking and it turns out his landlord is a very elderly man that is timid and doesn't seem to want much to do with managing the property. My "friend" pays ~$900 /month for his unit, split with a roommate. Not only this but my friend here tells me that for the tow years he has lived there the other two units have not had any tenets in them. 

I believe I've identified a landlord who doesn't want to be a landlord of a potentially $400,000 dollar property that when fixed up will rent for ~$1400 / unit /month. (called to his next door neighbor that has the same three unit model to see what that rent was going for). 

I brought this up with my "friend", not really a friend but acquaintance, and asked for the landlords number. He responded by saying that he won't give me his number because he doesn't want the landlord to sell the property or get the idea of selling the property because his rent might increase. .... Palm to the face.... Some people just can't see opportunity, even when their living in it.  

So first question, how do I manage this guys feelings when he finds out that I have gone around him to buy this property and now I'm increasing his rent? haha can't wait for that convo.... 

Second question, how do I find the landlords contact info? What I've done so far:

1. Pulled up the property record and discovered the name of the owner.

2. Googled the owners name and tried to find a business or other point of online presence they might have.

- Scary what you can find, I basically know their who life history now. Death of a husband, where kids went to college, who they got married to.... 

- I've considered trying to reach out to the kids but they all live out of state and I'm not sure how I would be received or if that is the way to go. 

3. Called every public record number I have found associated with the owner's name. Almost all disconnected or don't work.

4. Pulled title on the property but that didn't give me any more information than I already had

Additional info.

- The mailing address associated with the property is a little ranch about an hour and half outside of Austin. Is it bad business to show up unannounced and just knock on the door? They are elderly so I don't want to scare them. I'm thinking of leveraging my wife for this portion.

- The owner has two other properties within Austin city limits in equally desirable places. If they are in the same condition and the owner is willing to package them all into the same deal, it could be a HUGE win.  Very important to at least sit down and talk with them and see what their goals are.

- I have not yet tried mailing a letter. 

Any other ideas or best practices to try and get into contact with these good folks? 

Thanks for the help.

ps. First BP post! Yay!

[Doug Woodville]

I'd write a letter and send it off today. Right now. I wouldn't show up unannounced but maybe mention in your letter you're available to meet up ASAP face to face to make it more personal. 

I wouldn't worry about the "friend" living there. You've got to make decisions to achieve your goals and you've found an opening. It's not like you're doing this out of malice. If you get the deal you run it as a business and a business cannot run on $900/mo rent around there. 

*edit* I wouldn't even mention anything to the friend or anyone else in connection with them from here on out.