Looking for out of state investors!

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Looking for out of state investors!

Matt Gildersleeve
Rental Property Investor · Member since 2021 · 22 posts · 6 votes

Hi everyone! I am an out of state investor who is currently investing in the Midwest. I come across a good deal of cash-flowing single family homes and small multifamily (primarily duplex and triplex) properties that I can’t always keep in my portfolio, and I wanted to see if there is any interest from investors here who might be looking to purchase out of state? The properties are generally cash flowing at +8% cash on cash return/cap rate, with plenty of reputable, full service property management options in the area. I realize this is probably an odd request, but if you are a cash buyer and are looking to add these types of properties to your portfolio, feel free to message me and I'm happy to provide more info or answer any questions. Thanks!

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  • Kerlous TadresBusiness Member
    Realtor · Columbus, OH · Member since 2023 · 1k+ posts · 1k+ votes
    2y
    Quote from @Matt Gildersleeve:

    Hi everyone! I am an out of state investor who is currently investing in the Midwest. I come across a good deal of cash-flowing single family homes and small multifamily (primarily duplex and triplex) properties that I can’t always keep in my portfolio, and I wanted to see if there is any interest from investors here who might be looking to purchase out of state? The properties are generally cash flowing at +8% cash on cash return/cap rate, with plenty of reputable, full service property management options in the area. I realize this is probably an odd request, but if you are a cash buyer and are looking to add these types of properties to your portfolio, feel free to message me and I'm happy to provide more info or answer any questions. Thanks!


     Where in the midwest are your properties?

    [email protected]614-490-1163
    Kerlous Tadres | Reafco Real Estate542 Reviews
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  • Drew SygitBusiness Member
    Property Manager · Royal Oak, MI · Member since 2012 · 13k+ posts · 9k+ votes
    2y

    @Matt Gildersleeve creative wholesaling post!

    [email protected]248-209-6824
    Logical Property Management4.9462 Reviews
    WebsiteView Page
    0Reply
  • Matt Gildersleeve
    OP
    Rental Property Investor · Member since 2021 · 22 posts · 6 votes
    2y
    Quote from @Kerlous Tadres:
    Quote from @Matt Gildersleeve:

    Hi everyone! I am an out of state investor who is currently investing in the Midwest. I come across a good deal of cash-flowing single family homes and small multifamily (primarily duplex and triplex) properties that I can’t always keep in my portfolio, and I wanted to see if there is any interest from investors here who might be looking to purchase out of state? The properties are generally cash flowing at +8% cash on cash return/cap rate, with plenty of reputable, full service property management options in the area. I realize this is probably an odd request, but if you are a cash buyer and are looking to add these types of properties to your portfolio, feel free to message me and I'm happy to provide more info or answer any questions. Thanks!


     Where in the midwest are your properties?


     Right now I am in the southeast WI market, primarily the Milwaukee, Racine, and Kenosha areas. Price points for properties I come across are generally in the $100-$150K range. Feel free to message if interested! 

    1Reply
  • Matt Gildersleeve
    OP
    Rental Property Investor · Member since 2021 · 22 posts · 6 votes
    2y
    Quote from @Drew Sygit:

    @Matt Gildersleeve creative wholesaling post!

     @Drew Sygit Genuine question here, but what do you define as wholesaling? I see the term tossed around quite a bit in a multitude of scenarios. I generally do not assign contracts and take these properties down with cash. They are also generally fully stabilized with tenants, cash flowing, etc. Let me know your thoughts, and appreciate your reply. 

    0Reply
  • Drew SygitBusiness Member
    Property Manager · Royal Oak, MI · Member since 2012 · 13k+ posts · 9k+ votes
    2y

    @Matt Gildersleeve wholesaling is getting a seller to agree to a price, then finding a buyer willing to pay the seller's price + your fee.

    Normally, the wholsaler does very little, if anything to the property (most often just a trashout, so it looks better).

    Assigning contracts is one way to do this.

    Actually buying a property and then reselling it is another way.

    Occupied or vacant doesn't matter.

    [email protected]248-209-6824
    Logical Property Management4.9462 Reviews
    WebsiteView Page
    0Reply
  • Matt Gildersleeve
    OP
    Rental Property Investor · Member since 2021 · 22 posts · 6 votes
    2y
    Quote from @Drew Sygit:

    @Matt Gildersleeve wholesaling is getting a seller to agree to a price, then finding a buyer willing to pay the seller's price + your fee.

    Normally, the wholsaler does very little, if anything to the property (most often just a trashout, so it looks better).

    Assigning contracts is one way to do this.

    Actually buying a property and then reselling it is another way.

    Occupied or vacant doesn't matter.

    @Drew Sygit Thanks for the response, Drew. It seems like you have strong feelings on the matter? 

    Regarding the timeline for purchase/resell, that will vary depending on each specific property. Some properties may be fully stabilized and cash flowing with no work required, so naturally minimal or no work would be needed on my end. Other properties may require some slight work/stabilization, and perhaps I will hold that property for a month or so, ensure it’s truly stabilized, and put professional property management in place, and then sell the property to the end investor. This is the case for the last property I sold to an investor. I take every opportunity on a case by case basis. 

    0Reply
  • Marcus PerlebergPro Member
    Investor · Oconomowoc, WI · Member since 2020 · 21 posts · 6 votes
    2y
    Quote from @Matt Gildersleeve:

    Hi everyone! I am an out of state investor who is currently investing in the Midwest. I come across a good deal of cash-flowing single family homes and small multifamily (primarily duplex and triplex) properties that I can’t always keep in my portfolio, and I wanted to see if there is any interest from investors here who might be looking to purchase out of state? The properties are generally cash flowing at +8% cash on cash return/cap rate, with plenty of reputable, full service property management options in the area. I realize this is probably an odd request, but if you are a cash buyer and are looking to add these types of properties to your portfolio, feel free to message me and I'm happy to provide more info or answer any questions. Thanks!


    We are always looking for properties in SE WI. We are looking to build our rental portfolio.  Please email me a list of properties you are interested in offloading.

    [email protected].

    Thank you

    [email protected]
    0Reply
  • Drew SygitBusiness Member
    Property Manager · Royal Oak, MI · Member since 2012 · 13k+ posts · 9k+ votes
    2y

    @Matt Gildersleeve strong feelings on what exactly?

    Experienced investors all know what wholesaling is.

    Good luck, hope you do well:)

    [email protected]248-209-6824
    Logical Property Management4.9462 Reviews
    WebsiteView Page
    0Reply
  • Matt Gildersleeve
    OP
    Rental Property Investor · Member since 2021 · 22 posts · 6 votes
    2y
    Quote from @Drew Sygit:

    @Matt Gildersleeve strong feelings on what exactly?

    Experienced investors all know what wholesaling is.

    Good luck, hope you do well:)


     Thanks Drew - best of luck to you as well! 

    0Reply
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