I doubt that there is any differenciation by state of residence. When I did it the first time I wanted to buy rentals for long-term hold so segregated by the preperty characteristics such as age, sq ft, bedroom and bathroom count, etc. You might try to do the same. If you are planning to do real estate merchandising, whereby you buy and do a quick resale, you might still do some selection–such as quality of neighborhood, sq ft, assessed value.
I also targeted longer-term owners, figuring that they would have more appreciation behind them and thus, even when selling below market value, they still would have a profit.
Think a little bit about the people most likely to respond and give you the type of deal you need. Otherwise, you are just doing a broadcast marketing approach and mail to many folk.
By the way, I’d recommend mailing to “out of area” owners, not just out of state. Maybe those at least an hour or so from the property.
I am about to do an out of state mailer campaign to owners who own property in South Florida. I was wondering what “out-of-state” state you have had the most success with, i.e. people in NY, NJ, OK, or whatever state. Any experiences would be appreciated. Thanks!
Re: Best Out of State Owners - Posted by John V, FL
Posted by John V, FL on July 16, 2003 at 10:50:07:
Ron is right. Also, Florida is a big state. Someone that moved to the panhandle is a 12 hour drive away and lives in a different time zone. If you have some success and want a quick flip drop me a email for Broward and Palm Bch.
I have had some luck with out of town people. (Northen snowbirds).
But the folks I have worked with have had a very good amount of equity in their properties. And needed to sell out.
As Ron said, dont discount people locally. (within Florida)
For example tomorrow i’m going to check on a place that the owners (local people) are a bit late on paying their property taxes. I think I can help them with their problem.
ECD, flexible sellers is what you are looking for…no matter where they live.
