Cash Offer Letter
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While the information contained herein is designed to provide accurate and authoritative information in regard to the subject matter covered, it is offered with the understanding that the presenter(s) are not engaged in rendering legal, accounting, or other professional service. If legal advice or other expert advice is required, the services of a competent professional should be sought.
Personal Note from AIG:
At one point I had a LOT of direct mail going out to non-owner occupants in junky areas of town. These days I don’t deal a lot in those areas, but in the early days I had a couple of cash buyers who were big-time section 8 landlords and they’d buy up anything I could feed them if the numbers were right.
As you might expect, you have a lot of “don’t wanters” in these areas, so I got a LOT of call backs from my mailings. Still a one-man show, I quickly realized I could spend all day looking at these junkers, but that would keep me away from some of the better deals. But not wanting to waste the lead, I resorted to doing quick drive-bys and just mailing or faxing my offers to them. It worked fairly well for these types of neighborhoods and I did a handful of small deals this way.
I don’t necessarily recommend this strategy, but I’m including the letter I wrote and used for you here, because I think it’s a pretty well written cover letter and it might come in handy to you at some point. And if/when you need such a document (or want to experiment with a similar strategy) it’s always easier to have something someone else has already written as a starting point than to write your own.