Find a rental property through direct mail

[Matthew Trotter]

I would like to hear your thoughts, experiences, and stories!

So here is what I want: buy 1 rental property in 2015.

And here is the strategy: direct mail to single-family homes near my own home. I want to come across as "the guy next door" that you can trust will give you a fair deal. The actual dollar-amount I offer will never be retail price, but I want to put out an image of a trustworthy guy. I'll send out the mail in late January through early March (winter), when prices are generally lower for the year.

Here is my target market: any 3+ bed/2+ bath SFH within 5 miles of my home with 50% or more equity. Basically, this means family residences with owners that have been there awhile. To me, this proves the house is worth enough that a family would stay awhile - ultimately, that's what I want my renter's to do. According to listsource, there are about 5000 of these homes.

Here is the letter content:

----------------------------------------------

Hi Mr. and Mrs. Johnson,

I would like to buy your house. You might be having troubles with repairs, the bank, taxes, attorneys, or anything else. I’m here to listen and help work out a deal for you. And, if we work together, you can avoid the 3% buyer’s agent and 3% seller’s agent fees.

My current home is actually right around the corner in [condo community] on [street name] Street. You can tell I like the area, and I’m looking for a rental property nearby. I have two options. I could either stay in my condo and rent out your house, or do the opposite and move into your house and rent out the condo. I’m still deciding, and your house looks great either way.

If you’re interested, please give me a call on my cell at [cell number] or an email at [email address]. I hope to talk to you soon!

Sincerely,
Matthew Trotter

----------------------------------------------

What do you think?