Multiple property deal

[Dave Grimson]

OK, here's the deal. The guy who owns a property next door to mine is getting ready to offload his portfolio (he's getting older and has some health issues and his wife is telling him its time) He has 2 Duplex's and another property with a duplex and SFR on the same lot.

I'm still gathering up some of the details on Rents and property condition but I need to move quickly as he is already talking to a realtor about listing them all.  Looking for some advice on how to reel this one in. I already mentioned a possible seller financing option and he seemed interested.

Properties are in Northern Connecticut, If anyone in the area would want to talk about a possible partnership on this please direct message - I may be interested

[Michael Doherty]

@Dave Grimson if the numbers work I would 100% try to lock these up in a P&S or LOI at least until you have more information whether or not you want to move forward.

Some questions to ask yourself. How do you plan on financing these properties if he does not choose to do seller financing? 

What do the numbers look like after you refi out and pay him off if he does do seller financing?

What kind of leases are tenants on? Are current tenants current? 

If this is a home run deal the money will come. Your best bet is to 1. offer seller financing at a competitive rate and breakdown the pros to him for doing this. 2. If he doesn't go for seller financing- offer all cash and try to get the best price possible. Reach out to private or hard money lenders to lock this up.