Our Quest to Buy Apartment Buildings

Posted on 27. Jan, 2010 by in Commercial Real Estate Brokers, Direct Marketing Campaign, Finding Apartment Buildings, Multi-Units/Apartment Buildings, Private Lenders



On our quest to Buy Apartment Buildings you know that we started a direct mail campaign. Well we sent out 278 letters and up to and including today we got 6 calls in response to our letters. Of course not all of the calls are going to help us buy apartment buildings lol but hey at least they are opening the envelopes, reading the letters and picking up the phone! Right? We got a response rate over 2% thus far.

Of the 6 responses here is the breakdown on our quest to buy apartment buildings: 2 whacko’s who well were whacky and didn’t want to sell.

1 guy who was super duper nice and said for the right price he’d sell. 1 lady who asked to be taken off our list cuz her father died 3 years ago and she doesn’t want to sell.

1 guy who left a message today who was super duper nice and said he hadn’t thought about selling but if the price is right he would consider selling both of his properties and he asked me to call him back.

And 1 more whack-job who called me yesterday and I actually picked up and he said….(Scott, wait til you hear this one! lol) So he said: “Hi my name is blah blah blah, you sent me a letter saying you want to buy my property.” I said “yes, I did sir. Do you have a property to sell?” He said “well, do you know anything about my property?” I said “well I’d need you to tell me about your property if you are ready to sell it, however, is it ok if I call you back in a little while as I’m getting ready to go into the oral surgeon’s for a follow up after getting my wisdom teeth out?” He said “Sure you can call me back.” I said “Ok can I have your phone number?” He said “nope.” I said “uhhh well what’s your property address?” He said “I’m not gonna tell you.” lol I said “ok well if you won’t give me your number or tell me your property address how am I suppose to call you back?” He said “send me another letter like you did this one.” I said “ok sir, I will send you another letter.” He said “ok thanks.”




Excuse my language but what the fuck is going on with these people? lmao I just want to buy apartment buildings. I think it’s pretty clear. If you want to sell, call me. If you don’t want to sell, then don’t call me. It’s not that hard is it?

So I got Kathy a lil more involved with this whole let’s buy apartment building thang. Mostly because we didn’t have much choice cuz I literally couldn’t speak properly and I needed her to make call backs to folks that called after getting our letters. She was nervous and did not want to do it. Ya know? Like most of us who haven’t done something before and have a fear of it. But ya know what, she sucked it up and she did it. She called 2 people back and they were nice to her. 1 didn’t want to sell (why he called, I have no idea) and 1 guy was super duper nice and we’re going to check out his property when Kathy gets back from Virginia.

Now here’s the deal with the super duper nice guy. We aren’t so much interested in his 1 property (7 units) but he has another property that we want to get details on and Kathy talked to him for almost an hour and a half and built a pretty good rapport and she said she thinks that he has $$$$$$$$$$$$$$$$$$$. So we were thinking that if we could get in good with him that he may be an awesome private money prospect. :-) So we’re gonna meet him.

We went and looked at a 19 pad mobile home park yesterday. Without having the exact figures I think it’s definitely over priced. But I always ask for the actual expenses and income info because I want to practice actually “evaluating the numbers” so I can make buying an apartment building much easier.

Monday or Tuesday we’ll be meeting with a commercial broker and thanks to ChrisBuysApartments who commented on Scott’s Struggling Investor post about my blog here, I got some awesome insight as to what to say to this broker and more brokers.

Oh and a thank you to Scott from Struggling Investor for listing me as one of his Top 5 Up and Coming Investor blogs to watch out for. I appreciate that Scott and I promise, I’ll be giving you reason soon to make it worth you putting me up there!

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4 Responses to “Our Quest to Buy Apartment Buildings”

  1. Scott Costello

    28. Jan, 2010

    That is one crazy dude who called you up. If stamps weren’t so expensive I’d send him a post card every day for the next month and see what he says then.

    Any chance you had caller ID on your phone? maybe you could call up your phone company and get the #.

    Ahh, probably not worth your time.

  2. ChrisBuysApartments

    28. Jan, 2010

    Thanks for the shout. Glad I could help.

    -Chris

  3. Flippin' Carey

    28. Jan, 2010

    Yeah definitely not worth my time…but it came up Private Number when I answered….I actually only answered cuz I thought it was someone else.

  4. Flippin' Carey

    28. Jan, 2010

    No problemo Chris. Thanks for the help and the Facebook add.

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