Calling For Rent Ads for Sandwich L/O's - Posted by BR

Posted by Stacy (AZ) on June 14, 2000 at 15:07:34:

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Calling For Rent Ads for Sandwich L/O’s - Posted by BR

Posted by BR on June 14, 2000 at 09:23:04:

In a major circulation paper I have noticed that most of the ads are placed by Property Mgnt. Companies. Anyone experienced this? Do you bypass these or contact the owners directly to plant a seed? I don’t know how proficient profssional mgnt. companies are but I do know that at least in my area, property owners that use R. E. Companies for mgnt. are usually not happy with the results.
Anyone have experience in this area?

Ask if willing to sell… - Posted by Steve(NC)

Posted by Steve(NC) on June 15, 2000 at 10:38:20:

Tell them that you are interested in purchasing the property if it qualifies. Tell them you would like to speak to the owner (might give you the phone number at that point). If not leave a message and tell them to contact the owner and follow up…follow up…follow up.
You know that they have more than one property…have them contact several owners.

Steve (NC)

That’s a really good question… - Posted by zeik

Posted by zeik on June 14, 2000 at 11:25:04:

I see those ads too: “FOR RENT:BEAUTIFUL 1 YEAR OLD 3/2 IN GATED COMMUNITY…ETC. CALL ABC REALTY 555-5555”.

Now you KNOW the homeowner is likely renting out of necessity (not many buy a brand new home and rent it for investment purposes). This would seem to be a perfect candidate for a lease/option/subject to deal. Would it make sense to call or write the homeowner and pitch the idea? Think I might try…

Re: That’s a really good question… - Posted by Dave T

Posted by Dave T on June 14, 2000 at 21:38:21:

I have asked the management company if the owner will consider a lease with option to purchase. In my limited experience, the management company usually did not have the answer at their finagertips, but was more than willing to contact the owner and get an answer for me.

Re: That’s a really good question… - Posted by Raj

Posted by Raj on June 14, 2000 at 14:21:50:

A good idea. But I have a question. How will you get the name of the owner ? The management co. is not going to share that information with anybody.

Re: That’s a really good question… - Posted by dewCO

Posted by dewCO on June 16, 2000 at 11:18:02:

Wouldn’t trust a property. mangmnt. company’s “No” answer in your scenario. I’d contact the owner directly. Mngmt. co. will lose business if owners sells or does l/o.

Re: That’s a really good question… - Posted by Jim (Alaska)

Posted by Jim (Alaska) on June 14, 2000 at 15:09:40:

Here in Alaska, most management companies advertize the address of the property. I simply use the tax database and look up the owner of record and send a letter to them.