I have recently come across a deal in Ohio for seven duplex/triplex buildings. 4 are rented and the others need work. I am going to pay for the 30k in work that needs to be done. I just need someone for the purchase of 300k. I probably will be able to put in an offer that is lower than the asking since I have to get work done to them. Are there any companies or people that I can contact about this? Thanks for any help you guys may offer.
Congrats on finding an interesting deal like this. A couple thoughts. Are these all contiguous on one piece of land, or are these a package where they are all spread out? I would imagine that you could get a commercial loan to cover them. Have you looked at that route yet? I personally will not buy packages of houses, duplexes, triplexes, etc, because these are often not very competitively priced if you dig into the numbers. I have been offered many such packages on visits to Indiana and Michigan.
If you can't go the commercial route, I would be a little wary of this deal. Unless you are local, you can really get taken advantage of buying out of state portfolios. Having said that, I love out of state investing, especially if you are buying apartments. I have loved my 20 unit in South Bend, Indiana, and hope to buy more apartment complexes like it.
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Thanks @John Warren and @Samantha Barnes . These are separate multi family units. 7 to be exact. 2 of which are triplexes the others duplexes. What company do you suggest for a commercial loan if they will fund it? I am out of state but I looked at the properties and it seems like a good deal. The only issue I have been coming across is that hard money companies won't fund it because each house is not worth more than $50k. I will send you a message Samantha.
Have you considered partnering with someone?
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