Buying a portfolio
Hello BP community! Looking for advice! Got a deal with multiple properties presented to me. All in the same area I know really well. What advice would you give me to proceed with this deal? I’ve never done a deal with multiple properties. How should I go about financing this deal? Seller finance is an option. What key things should I look for? I will be looking at them later today..
Most Popular Reply
#3 1031 Exchanges Contributor
- Investor
- Las Vegas, NV
At LEAST 10% off if more than 2 properties. Closer to 20% off if it’s over 10.
Make sure you get estoppels from tenants and landlords regarding rent/security
If you can’t get access to walk every property that’s pry another 10% discount. (It’s reasonable you have to go under contract before walking properties to avoid tenant disruption.)
You get past these steps then you decide which properties are performing poorly or aren’t properties you would be interested in and make sure they can be sold for at least their portion of the purchase price after selling costs.
Good luck.