Buying investment properties require good business lettersBuying investment properties require a good library with books and letter samples. This is our letter after we bought first apartment building to inform the tenants about ownership and management change with a new lease offering at the same time. Dear (tenant name) First we thank you for your cooperation with “Old Property Management” in showings and inspections. Beginning June 25 the new rental property owner will be “MY Limited Liability Company” with ME as the new manager. To provide new ownership with updated information to better serve you, please complete, sign, and return the enclosed rental application and the lease agreement in the provided envelope by July 1st, 200X. There is no charge for application screening, since you have been already approved. Please sign the enclosed lease agreement for one year, as that will secure a fixed rate for the duration of the lease. All details are provided in “Residential Lease Agreement”. The attachments are the “Standard Rental Application”, “Pet Agreement” and a return stamped envelope. Some securities deposits should be updated for pets, damages and abuses in few cases, and for getting everybody on the same level of responsibility. The same is with rent increases in few cases. Very soon, in July we will start repairing the gutters and make the laundry operational. We have in mind more improvements.The signed leases with “Old Property Management” will be recognized for month of July. The new lease will start August 1st NOW and continue until July 31st NEXT. We wish you an enjoyable residence. Sincerely,
Dear Mr. and Ms. Owners We have not met so far. You learned about us from your property manager. We bought from Sarah Seller the ten units building next to your property for $180,000 and, we had the closing on June 25, YEAR. Sarah accepted a creative option of doing business by helping us with $20,000 second mortgage in form of a note payable in two years. This way she will get tax advantage and good interest (a lot better than the stock market performed lately}. The real estate agents (I am one of them, see my business card) together with the broker commission totaled about $10,000. I made only $2,400 on that deal, and I paid for inspections and some financing fees. (The point here is to eliminate some resistance to idea of me being a real estate agent and benefiting from undisclosed details.) We decided to manage the property, because we want to do it, so far. I did some work to clean and repaired the front gutter already. You may see us around, doing some work these days. Please consider us as potential buyers also, when you will think about selling your property building. Sincerely,
Dear Mr. and Ms. Owners Looking forward at our meeting I think will be a good idea to have some papers ready, I mean: the last two years income statements for (rental property address) and the current year rents and deposits situation. Your property manager can produce easily these papers for you. I need these documents to support my application for a mortgage. I am a serious buyer who can close quickly if the price and terms are right. Sincerely, More letters about buying investment properties are at
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