Looking for first deal -- searching tax records

[Connor Heim]

Howdy!

I'm a new-ish BP member and I'm looking to purchase a condo in Sarasota, Florida for personal use and to offer as a vacation rental.  I've found a community that I like and that allows 1-week minimum rentals (part of my criteria).  Currently there is only one unit for sale in the community, and it's priced at $250k, and is now pending purchase.

I've gone to the county tax records and pulled up all the owners who own in this community.  I then looked at those who have owned for at least five years and, based on purchase price, have significant equity in the units.  I created a spreadsheet with all the pertinent data.

I've put together the following letter that I plan to send to the 81 owners I've identified (95% of whom do NOT live onsite). 

Dear Ms. (Last Name),

I am writing to you regarding your property at (unit address), Sarasota, FL. I’m interested in possibly purchasing your condominium and wondered if you have considered selling it.

I lived in Sarasota many years ago, and my family has been discussing moving back on a part-time basis.

If you have an interest in selling, please call me at (phone number), or alternatively you can email me at (email address).

Thank you for your time and consideration.

Sincerely,

Connor Heim

I'd love to get feedback on this strategy and what you might do differently to find a seller.  

Looking forward to your replies!

[Mindy Jensen]

Hi @Connor Heim .To add to your already good letter, I give them as many contact methods as possible, including a street address. I add that if they are interested in selling now or at any time in the future, to contact me. I share how much they can save in real estate agent commissions if they sell directly to me, offer to pay for an attorney of their choice to look out for their interests so they are well represented and ask that they keep my note for future. 

Another idea is to send the letter, and have some magnets made up with your contact info. Maybe they will stick it on the fridge...

Since you're so targeted, you can afford to spend a little more. I'd definitely hand-sign every letter and hand write the envelopes or pay someone to do it for you. People are more apt to open a hand addressed letter, even if they don't recognize the return address. 

Consider an odd-sized envelope, and perhaps a color that stands out, like lavender. Odd sized envelopes can have higher postage costs, but if it looks like a birthday card or something, maybe that increases the chances of it being opened.

Since you mention living in Sarasota part time, would you be interested in renting it back to them for a portion of time? Absentee owners of FL condos are most likely retirees who come visit in the winter...