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Learning and Burning

Multiple properties

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Hello again,

I have a seller who is motivated and come to find out is married to a good friend of mine. So he is motivated to do business with me. Scenario here is he has multiple property's. Sfh, duplex, lake front property and vacant lots. My goal is to work a deal for all the properties as he is unloading all. There is no financing on any of the property he owns all free and clear. He is wanting $100k for a possible owner carry and is hesitant to deal with a realtor. So all things point to a good sign that we can do business. Qeuestion, is this possible to do multiple properties? If so what would you suggest so i can be schooled on such a scenario? I am not sure where i would start and needing advise so i can lock something up.

 

Learning and burning.....

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Yes, it's possible to do a multiple property deal. But there are some questions for you to consider.

For starters, the value of the properties individually, and then as a whole package.

You said he wants $100K down and then the owner will carry the balance. At what terms? Will he take a discount for an all cash deal?

Once you have the properties, what is the exit strategy? What's the plan?

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My thoughts are to sell some and sandwich some. I am doing my due diligence on these as individuals so package deal could be considered. And maybe just individual offers. A discount would be part of the proposal for a take all scenario. He is motivated and for all due purposes is asking me to propose a take all deal. In my head the perfect scenario would be to control all the properties and sell or lease out asap. The houses and dulexes are all occupied so that would come into play also. Vacant lots could be marketed so to create the cash he wants. ?????? not needs. So say theres 6 properties at rmv of 500k with my proposal id look to discount that and get control of the properties. That market is a hot one for sales at the moment. This is all my beginners outlook on multiple properties scenario.... Is it even a deal?

Any and all suggestions are as always taken to heart....

 

Learning and Burning

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Is it even a deal, you ask. Potentially, yes. But you need to know the values of the properties individually. That's your starting point. Followed by financing possibilities offered by the seller and from outside sources, if you need to go in that direction.

With this in mind, find an Agent friend who can run some numbers for you.

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