Had an investor approach me April of this year wanting to purchase a townhome in a specific subdivision in Charlotte. Firstly, we had to ensure the subdivision was not subject to a rental cap by the HOA, once we received confirmation that it was not, we set up a search portal for her for that community which would allow the investor to receive an email alert as soon as a listing came on the market.
May and June went by – and nothing!
The first week of July we suggested to her that maybe we write to all the owners (all 94 of them) and let them know we have a serious buyer who is approved and ready to close. She agreed and letters were all signed by me, postage applied and mailed July 5th and by July 25th we had 3 responses from owners who were thinking about selling. Good news – we closed on a unit in that neighborhood (after all our due diligence) October 12th!
At closing the investor confessed she didn’t think it would work – we are glad both buyer and seller were happy!
The best part about this unit – it came with a tenant who was willing to stay!!!