Remember in order for the borrower payment to remain the same at $570, in line with the original terms of the note, the author said they increased time so they would have also had to have increased the rate on the note (that is through my extraction not the author's direct statement).

That may be the market for the area, but its hard to extract any profit when they're that low.

Hey Steve not nearly enough information for anyone to be able to give you meaningful advice.

I apologize for the length, but it is one of the few ways that I can meaningfully contribute to the BP community (at least those with young families) now, and especially to someone like J Scott.

(I used to do email marketing and website conversion optimization) Negotiation is a pretty good one of mine too.Again I am not an expert in direct mail at all but I think without any distress and not even being absentee you probably will need a MUCH bigger list to hit a meaningful number of leads.I actually agree with you that you never know and if you are in front of them (And I will guess few if anyone else is hitting those mid level equity owner occupants) you might get some deals eventually.If you are taking this route you might want to look into EDDM from the USPS.

The piece of paper you may get isn't really meaningful.

They deserve it if they manually went through each file and extracted addresses

Part of the value-add in that transaction was actually quite simple - they opened the facility on Sundays and extended the leasing hours 2 additional hours / evening and it has translated into a meaningful difference in occupancy in just 2 months.

As long as you don't put up too much option/earnest money, give yourself the proper contingencies to extract yourself from the contract and are upfront with the seller, there's no reason you can't give it a try and see what happens.

@Christopher HunterFrom what I've picked up (and you can find this on other posts) cap rates for what are considered residential properties (4 units and less) is not as meaningful for an investor as for 5+ units.