Wholesaling apartment communities
Hi everyone,
I am a real estate investor and agent in the Oklahoma City metro area. I have been selling wholesale real estate for the past 6 months primarily single family investment properties. I have recently began moving package deals such as rental portfolios. Currently the most I have moved in one transaction is 9 single family homes. The company I work for is also getting into smaller multi family deals such 4-plexes and small apartment communities.
Does anyone have experience buying or selling wholesale deals with apartment complexes? I would like to know how the transaction should be structured because there is so much more due diligence that must be done on a larger transaction. I would think that a 60 day inspection period would be good enough for a larger building (20+ units). There are lots of value add opportunities in the Oklahoma City metro area but I have not yet sold a complex. We may be getting a 61 unit apartment community under contract in the next week or so and I would like to sell it as soon as possible. I have been studying large multifamily real estate for the past year so I have an ample amount of knowledge to evaluate the deals and calculate ROI, Cash on Cash returns, NOI, Cap rates, expenses, etc.
I am always striving to learn as much as I can from experienced investors. I also think one of the best ways to learn in this industry is to take action, start doing deals, and learn from what troubles or mistakes may arise. Thanks in advance for all of your help! I am happy to hear anyones input on the situation or anything that can be said about 20+ unit deals.
Happy new year!