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Updated over 6 years ago on . Most recent reply

User Stats

28
Posts
5
Votes
Lee Zhao
  • Investor
  • Las Vegas, NV
5
Votes |
28
Posts

An Abandoned Property I Want to Buy

Lee Zhao
  • Investor
  • Las Vegas, NV
Posted

Hi BP investors, just cross my condo, there is a vacant unit about a year. I don't see anyone coming in and going out. The trees at the patio are so overgrown that they already reach the balcony of the second floor unit. I found the owners of the unit who are out of state. A month ago, I mailed them an inquiry letter, introducing myself, telling them the status of their unit here, and asking if they were interested in selling it to me. So far I haven't heard from them. What should I do now? Send another follow-up letter? Send them 1-2 offers in the letter? Is it worth pursuing? Any advice/suggestions would be greatly appreciated. Thanks in advance?  

Most Popular Reply

User Stats

28
Posts
5
Votes
Lee Zhao
  • Investor
  • Las Vegas, NV
5
Votes |
28
Posts
Lee Zhao
  • Investor
  • Las Vegas, NV
Replied

@Ehsan Rishat @Sam Shueh  Thank you for the advice! I combined your suggestions and sent a follow up letter, offering three solutions: 1. cash purchase, 2. get someone to live at the property, taking care of repair/maintenance, and they get monthly cash flow without being a landlord (I am thinking about seller financing). 3. help them sell the property since I am an investor/agent familiar with the neighbor. Wait and see what happens. If they respond with one of my solutions, we can then go from there, negotiating price/terms. 

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