Buying 15 rental properties???
Ok so I'm just getting my feet wet in investing... I just bought my first flip house and now looking to get into rentals... my agent put me in contact with someone moving out of town to retire and they are selling 15 rental houses all in the same area.... some are duplexes and triplexes... so it comes out to 19 doors total.... all of them rent for 400-500 each and they are all currently rented... he will sell them all to me for 220k... some are in rough neighborhoods and need TLC... so don't think im getting this great deal, however, on a loan of 220k... I'm still set to make a good bit per month...
My question is, does anyone know a better way of financing something like this? Rather than appraising every single location and getting a loan on each location individually... is it possible to get a lump sum and use it all as collateral??
Any info is appreciated....
Most Popular Reply
My advice would be to run away from this deal as fast as possible. At those low rents you’re going to have a very difficult tenant base