All Forum Posts by: Patrick Flanagan

What is the best way to go about reaching trust fund,  corporate, and llc apartment owners?

Is there a specific strategy I need to use when contacting these types of owners. I’m trying to contact mostly small individual owners. But I was told to contact these people as well because they could want to sell their apartment building.

@Ashish Acharya

Awesome info thank you

@Steve Vaughan

Great info thank you

@Charles Carillo

Great info, yes I could see how a offer like that would be hard to accept.

What would you recommend I put in a direct mail letter to start my relationship building?

Should my letter say something along the lines of.

“I’m 27 years old, I’m a Marine vet, and a real estate entrepreneur. I know your time is valuable, and I’d love speak with you about your apartment building to learn how you bought your first one? I’m in the market to buy my first one and I can tell how nice and well kept your property is that you know what you’re doing.(even if it’s a dump and needs a lot of fixing up) Maybe I could hope on the phone with you and hear your suggestions on how to buy my first one?”

Maybe the owner might say hey well I want to sell mine or I have a buddy that wants out. I feel like that might be better then, hey do you want to sell your apartment, call me.

But I’d only be targeting paid off apartments, owners that have owned them for 10-30 years. I can insert all this data in my propstream website.

@Ashish Acharya

Thank you!

So example, I just bought my 4 plex that I’ll be moving into. We will be at a loss every month because we are living in 1 unit.

We can claim that loss? Or what specifically is a loss?

I was told that if you or your spouse is a real estate professional and you own real estate, you benifit from it?? Is this true and what all does it mean.

Thank you

I was curious if anyone could help me on my seller finance pitch. I know there are lots of ways to do this.

would you say the most important step is finding out what they need first? or is there a strategy when sending a owner finance pitch. 

example, you find a paid off 8 unit apartment building. would it be beneficial to send a letter to this owner and say goodmorning, my name is Patrick. I saw your property on 1234 street, I see that you value the power of real estate. As im sure you know capital gains tax hurts, and with the possibility the 1031 tax benefit exchange possibly being completely removed. I would like to offer to buy your property so you dont have to manage and deal with the head ache of owning rental real estate, while still collecting a monthly check. If this is something youd be interested in id love to help mitigate capitol gains tax, provide you a monthly check, and relieve you of managing your apartment.  

let me know what you think and id love any advice on your seller financing pitch or your apartment direct mail letter pitch. 

Hello, 

Im looking to connect with anyone who has set a goal that seemed impossible. I hear a lot of awesome goals where people say they want 5 houses in the next 10 years or 2 4 plexes in 3 years. All these goals are so awesome and powerful. 

With that being said I want to speak with someone who has done 50-100+ deals in a year or less, specifically multi family apartment units. I want to learn what systems and strategies I can apply today that can be scaled and repeated. Im not looking for a guru but if a " paid mentorship" was necessary please let me know as well. 

Im setting my goals extremely high because I Know I am capable

@Justin G.

Great info, I wouldn’t tell them anything about the financing part. The only part I’d send them is in the quotations of my post.

With propstream,  i’d really only try to target people who have owned the property for 10 to 15 years And especially try and find the properties that are owned free and clear. It’s a very small list beings that I’m looking for apartment units with this criteria.

But I’ve seen several out there.

Hey there!

I’m using propstream to locate owners with apartment buildings. I’m new to it and would love to get some advice on what you use for criteria to find motivated sellers!

Thank you I look forward to speaking with you