So you know I’m working on my direct mail list to buy apartment buildings. Right? Well my first direct mail list, where I did sent out the first batch of mailings, as it turns out I screwed up the list. One of the counties that I was looking in broke down the apartments in 5+ units….sooo of course, my luck, all of the smaller peeps were calling me back and Kathy and I are looking for minimum 40+ unit on our first deal.
Anywho, while checking out Loopnet last night I came up with an awesome idea to build my direct mail list to buy apartment buildings.
I don’t know how many of you have ever checked out commercial properties to buy and looked at any of their listings. But the better brokers when they list these properties have a pretty decent sized information packet which contains tonssss of information. I mean they’ll have the actual income and expense figures, proforma income and expense figures, demographic information, job information including the top employers in the area, rent rolls, etc. etc.
But another thing that they have is Rental Comparisons. So what they do is they have the subject property (the apartment building for sale) listed with it’s unit mix, square footage, occupancy and rents. Then they show a bunch of other apartment buildings around the subject property with their unit mix, square footage, occupancy and rents too. I’ve been reading this information for a few months now but last night it dawned on me…ya know an “aha” moment lol that I should add those comps to my mailing list! I mean they give me the property, the address and their occupancy. I figure the ones with lower occupancies should go at the top of my direct mail list to buy apartment buildings, wouldn’t you agree?
P.S. My adsense is on my nerves. It keeps showing ummm I don’t want to say the word to give it more reason to show more of those ads but don’t they know that the majority of this blog is about real estate and investing and not ummm d e n t a l work! Am I the only one whose noticed that? It’s driving me crazy lol Maybe I should just make a post that just says real estate, real estate investing, apartment buildings, commercial real estate investing, etc.