Investor · Wichita Falls, TX · Member since 2015 · 43 posts · 15 votes
Came across a listing in a market I am looking to invest in where someone is selling two duplexes and one triplex. This would be our first purchase so we're wanting to start out small. I think we should only buy the triplex and maybe a duplex. Is it possible/easy/advisable to purchase the whole thing and sell one off, or should I find a partner that wants to split it with me - I think the seller is going for the "Sam's Club" sell in bulk strategy. I think it is a better deal than if he were to sell each individually.
I haven't heard anything back from seller, just sent him an email, so will post details as I get them. Any advice from someone that has been here before? Thanks in advance!
You can either partner with someone else and split them up after closing, or you can just negotiate for the ones you're interested in. If the seller is just wanting to unload all 3 and you're getting a bulk discount, you can always wholesale whatever you don't want to another investor.
I agree with @JT Spangler even though I don't 'wholesale'... this is an opportunity to market parts you don't want. OH BOY!!! You are in OHIO!
This will be Fun! Close on one or more and I'd guess the almighty state regulators will not bother you... but this is an excellent test of Ohio RE boundaries regarding 'wholesale' ...
Be sure to determine that each one has a unique APN, otherwise you have multiple facilities on one plot and you will have fun with the zoning and trying to separate them into sellable properties.
They're actually in KC, got the addresses and they don't seem to be in a part of town that I'm interested in owning in. If I were more experienced or if I lived in the area, I would totally find someone to split it up with and wholesale them out!