Finding Multis 4-sale
Does anyone have a strategy for finding apartment complexes for sale? I want to get to the owners before the agents and brokers.
I am thinking of sending post cards to owners in the area...
Any thoughts? Any success stories?
Thanks for your time,
Wes Laney
Many multis that are mismanaged and may be great deals, look distressed. For rent signs, unkempt yards, defered maintenance, etc. Call those owners and ask if they may be interested in selling. I've found that when cold calling apartment owners, many would entertain offers under the right circumstances.
Other places you might look:
-RE Lawyers, accountants
-Title companies
-Call the "for rent" ads in the paper and ask the owners
-classified section of the paper
Many sellers do not want to involve agents at all.
Quote:
On 2004-05-01 15:32, hibby76 wrote:
Many sellers do not want to involve agents at all.
Is that really the case. I thought the agent would try to get as much money out of the property as they could. As opposed to the owner trying to sell it himself.. :-?
There are many people that think that paying a 2-6% commission is like burning up money. Never mind the fact that they may (..or may not) be able to get a much higher asking price from an agent.
Good agents can get you more money....or will let you know their limitations. Bad agents will list it and encourage you to sell it at just about any price just so that they get paid.
Is it okay to send letter to owners that currently have their property on the market and indicate if they don't sell w/ their realtor to give you a call? Any other/better way to find expired listings?
Not sure what you mean...
If it's on the market and LISTED then you'll have to work with at least their agent or wait until it's expired. You can always negotiate with realtors to drop their commissions.
If it's on the market but not listed, you can send them any letter or offer that you want to.
So do you think it is it okay to send the owner a letter essentially stating, "if you are unable to sale this property while it is listed with your agent, give me a call after your contract expires to see if we can work a deal".....
Why would you think it's ok to try to cheat the realtor out of their commission? If the seller isn't happy with their realtor, they should dump them. Why would you care if the seller is having to pay the commission of the realtor? You think that would make the seller prefer to sell to you, instead of someone else? Just curious here, I guess I don't understand your questions...