All Forum Posts by: Collette Petersen

I've been talking to a seller concerning his triplex, which I found by direct mail. Only myself and another gentleman know about this deal and the tricky thing is, this other buyer has bought from this seller in the past, he's done seller financing with him. The seller has been so open and honest with me about the whole process, (he told me he has offered $10k more). 

Basically my question to any of you is when you know you are buying in a competitive market, and in my case, you know what the competition is paying, what are other ways to "tilt the scale" in your favor so that your offer looks more appealing? Even if my offer price is less.

Seller isn't interested in seller finance on this one, even when he owns outright. 

Any thoughts? 

@Terry Matthews looking into a few right now. Nothing purchased thus far, though. Still vetting some things out and running some numbers still. 

@Terry Matthews Thank you so much for the tip. I'll check them out. 

Wondering if anyone would recommend a Property Management company in the Owensboro, KY area that does well with multifamily units- 30+ units.

Thanks!

Cody Ellison is really great with investors. He is in Utah County but also has helped my brother get into a STR in St. George.

(801) 358-5411, give him a call!

Hey @Joey Gorombey,

I actually went onto my county's GIS (Geographic Information Systems) website and filtered the parcels per my criteria. Right now I am targeting small multifamily- 3 units to 20 units that are more than 15 years old. I'm sending about 500.  It was fairly easy and only cost me my time, I didn't want to spend money on a list right out the gate. 

I plan on doing monthly letters for 6 months. I'm in month 2 and have gotten about 8 call/text/email backs. Of those 8 I am engaging further in more serious conversation with a triplex owner. 

One thing that I've put in my letter at the end was something like "And if you're not interested, just let me know so I don't keep buggin' ya!" I heard that tactic from a wholesaler that when they were leaving messages to say that so they'd call you back. I've gotten about 10 messages that say they aren't interested- and I respond by thanking them and then letting them know I'll just check back in 6 months or so... which helps me A) save money on stamps/materials and B) have a reason to "check back" on them. 

I'm just new starting out as well, but that's my two cents. Good luck!

@Eric Kirkham This is super helpful. I think sometimes we have the mindset of charging lower of a price just to get great reviews and help get us started, but you have to remember with a lower price, you are attracting "tenants" that might have lower standards, therefore resulting in more maintenance and repair work. Thanks for sharing your story! We can all learn from this!

@Ashtyn Stevens Good for you! I wish I started out as early as you. Every chance you get, listen to podcasts and books! Read a ton and network!

Good luck

@Mason Hickman and @Kevin Sobilo Thank you guys so much for your responses. I sent him a proof of funds and then just told him to jump on a zoom call with me and we can chat more. 

I would like to structure the deal on owner financing if he was open to it, but we have yet to chat. He owns the property outright, will be chatting with him tomorrow. 

Thanks again!

I received an email back from my direct mail campaign, the owner is interested in selling. Before we got into anything he wants to "verify who I am. And verify that I have the funds to purchase." He is asking if I can send him enough information to do a credit report on me. 

Is this something unusual? He is an older gentleman that might see things differently than me, so I am trying to make him as comfortable as possible in this process.

Thanks,