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Updated over 7 years ago,
How to talk to sellers that contact you from direct mail
Hi,
We have been targeting mid-size apartment buildings in my city by sending personal letters to about 80 owners. I got replies from two owners, where one has a property that seems interesting. He owner provided pictures, P/L statements, rent roll etc. His asking price is reasonable, a bit on the high side maybe.
Anyway, so far it has only been an email exchange.
My question is, what is the best approach for actually talking to the seller? Any specific hints for the first contact?
I already own several building, but this is my first attempt of getting an off-market deal. We'd like to not use a broker.