Expired MLS MFH Ltr (by Ray-N-Pa [PA]) Oct 4, 2022 12:00 PM|
Expired MLS MFH Ltr (by S i d [MO]) Oct 4, 2022 1:33 PM
Expired MLS MFH Ltr (by Ray-N-Pa [PA]) Oct 4, 2022 2:44 PM
Expired MLS MFH Ltr (by Landlord ofthe Flies [TX]) Oct 4, 2022 5:46 PM
Expired MLS MFH Ltr (by Hoosier [IN]) Oct 4, 2022 5:53 PM
Expired MLS MFH Ltr (by 6x6 [TN]) Oct 4, 2022 7:33 PM
Expired MLS MFH Ltr (by DJ [VA]) Oct 4, 2022 8:57 PM
Expired MLS MFH Ltr (by Oregon Woodsmoke [ID]) Oct 5, 2022 10:23 AM
Expired MLS MFH Ltr (by Ray-N-Pa [PA]) Posted on: Oct 4, 2022 12:00 PM
I plan on sending these letters out customized to the 20 or so folks who had multi-family units for sale between 2014-2019 that didn't sell. Do you suppose these same folks were excited about how govt reacted to C-19 and Landlords?
Feel free provide me some feed back on the letter. I may end up pulling the data for those in 2020-2021, but I want to start out with these units first. The way i see it is the market increased in value so these should probably be priced right about now.
XX October 2022
I am writing you because you had a multi-family place for sale back in 20XX that didnít sell. I am an active real estate investor who might be interested in your place located at XXXXXXXXXX. I have been investing i(either part time or full time) n real estate for multiple decades and started when I was still a journeyman in the service. I have since retired from the military and have been doing this full time for not quite 18 years. I am hoping to sit down with you over a cup of coffee and discuss your place.
I believe I can give you a price in the neighborhood of what you were asking, if you are willing to be flexible with the terms on this sale. That said, any solution we come up with will have to work for both the buyer and the seller. I am not a huge fan of paying lots of taxes so ideally, I would be able to do a 1031 exchange to defer my capital gains and use that for the down payment.
I live in XXXXXXXXXXX County and graduated from XXXXXXXXXXXXXX High School so you are dealing with someone local, even today. I have been doing property management long enough that I started out with a XXX area code to ensure my leads had long distance service. Things have absolutely changed over the years. Although I have been around the block once or twice, I still have the energy to train new residents. I think this can be of use for you.
If you still want to get rid of your units, please give me a call. I am not interested in properties in war zones and I donít mind updating a place up occasionally Ė especially as winter is coming soon. I want o learn what your motivation for selling is. I understand that dealing with toilets and tenants can be brutal. My cell phone is (XXX) XXX-XXXX. Call or text me and let me know what your schedule looks like
Expired MLS MFH Ltr (by S i d [MO]) Posted on: Oct 4, 2022 1:33 PM
I'd leave out the part about the 1031. Most Sellers don't know what those are and it would only confuse them and possibly not make them want to deal with more "conditions" that a total stranger is bringing up. That can be addressed later once you have built rapport.
I'd also condense the "about me" paragraph. Again, that can be useful once you've established some level of interest, but for now KISS. Too much "bloat" in the letter causes them to ignore you. Maybe take it down to one sentence, "I'm a local investor in XXX County and have 18 years of experience including property management, rehabs, and tenant training, which means I can handle almost any situation even if would cause trouble for most people."
In the final paragraph, again I'd condense it. Also, use more "positive wording"
"get rid of your units" becomes "put money in your pocket"
"I am not interested in war zones" becomes "we buy properties in quiet neighborhoods"
Overall, though, I like it. The main goal here is to show the possible Sellers that they have a problem (Seller has needs money to do something else, Seller is tired of dealing with bad tenants, Seller isn't willing to deal with broken down units) and Ray has a solution (Seller gets money! Seller gets rid of the hassles! It's a quick and easy transaction!). Everything you write should specifically show how you are the best solution to their problems.
Tighten it up a bit I bet you get some bites!
Expired MLS MFH Ltr (by Ray-N-Pa [PA]) Posted on: Oct 4, 2022 2:44 PM
Appreciate the feedback!
I like it.
We want your headache? --24.101.xxx.xxx
Expired MLS MFH Ltr (by Landlord ofthe Flies [TX]) Posted on: Oct 4, 2022 5:46 PM
The less details about what you're going to do with it and less details about you the better. I'd focus on Sid's tips plus make the message more about how easy your life will be when you sell the house.
I'd also remove any reference to the house not selling, and your being an investor. House not selling could be taken as criticism. Instead, tell them why you like THIS house. Make it as personal as possible. If they can tell you've sent this form letter to hundreds, they'll assume you're a bottom feeder.
And you might consider including an initial offer for their house in the letter and closing date. Offer your best offer with conditions of favorable inspections and condition. This will separate you from the pack. --108.69.xxx.xxx
Expired MLS MFH Ltr (by Hoosier [IN]) Posted on: Oct 4, 2022 5:53 PM
Do you have any references from prior deals? If so, I would not provide them in the letter but maybe say you have references upon request. --99.92.xxx.xxx
Expired MLS MFH Ltr (by 6x6 [TN]) Posted on: Oct 4, 2022 7:33 PM
I like the approach better than a post card. --73.113.xxx.xxx
Expired MLS MFH Ltr (by DJ [VA]) Posted on: Oct 4, 2022 8:57 PM
I agree to shorten it - a lot. A brief intro so they see you're a real person, then Quick bullet points to say how they will profit/what you can do for them.
If they don't like the offer in the letter, they will not contact you and give you a chance to shmooz & negotiate.
I know you have good strategies for finding deals. But, I'm wondering - if it was listed before the pandemic (they don't want it any more) and subsequent steep climb in sale prices - wouldn't they have listed it & sold while the demand was high?
In other words, if they still have it, maybe they aren't all that motivated? --68.229.xxx.xxx
Expired MLS MFH Ltr (by Oregon Woodsmoke [ID]) Posted on: Oct 5, 2022 10:23 AM
The sellers will want to hear a lot more about what you can do for them and how they will benefit and most likely don't have a lot of interest in your history or your plans. --76.178.xxx.xxx