Hello forumites
First I would like to say I have been reading the forums for months now, and have enjoyed seeing other peoples points of views in addition to the valuable information I have learned here!
I recall reading in one of Steve’s books that he had found many properties that were not advertised by just talking to people in the area. Well I was wondering if anyone has experience with dropping letters in mailboxes of properties they think might be of interest. That is to say in a particular street, you may find a number of suitable properties (in my case looking for PPOR), and dropped a letter to the owner to see if they may like to discuss selling.
I am looking to buy into a suburb that has a quite high entry price, and I would not mind buying a cheaper fixer upper type property, but unfortunately there does not seem to be much of this particular type on realestate.com.au.Thanks for your input!!
Kylie
I am actually going to go about letter dropping in the next couple of weeks myself in the area and streets that I like. It will also be for my PPOR and I will also be looking for the ‘ugly duckling’ one so that the price is more in my range. I rather enjoy renovating my home to my own taste anyway.
I don’t have any advice on this but good luck in your search I’m sure you’ll get lucky. I’m hoping I will too!
Kylie,
We considered this for our neighbouring properties specifically (both at the sides and the back). In the end we approached a REA to ‘gently’ enquire. Came up with one positive response, but it was the place 2 doors down, and we figured if the guy in between (our next door neighbour) ever got wind of it, he’d realise he held the key and could charge a king’s ransom.
Either way you go, if you approach the potential Seller first – don’t expect any bargain…you’ll be forking out absolute top dollar. Depends of course what you have planned for the site to whether top dollar still represents good value or not.
Cheers,
Dazzling
“No point having a cake if you can’t eat it.”
Hi Breej and Dazzling
Thank you for replying to my post…I have been messing about with the wording of the letter (trying not to sound too desperate whilst letting them know I may be interested for the right price). This weekend Im going to take a drive around the area and check out a few places that might be good for the letter drop.
Will let you both know how my enquiries are received!Regards
Kylie[cap]
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