Investor · Dallas, TX · Member since 2017 · 185 posts · 9 votes
Hello! I currently have in the making a package deal for 143 single family homes in Mesquite. I am still finalizing numbers, but wanted to guage initial interest. The seller of these properties is retiring and as such is ready to unload their tremendous number of houses in the area. All of the houses are fully occupied! Additional information is available upon request!
@Matt K. as mentioned we are still finalizing the numbers. By that, I mean comps are being ran on every individual property to establish their value individually. Additionally, leases for every property will become available. What if I told you they were all managed by a single property management company that could transition with the new owner?
I'm not saying it isn't a good deal, I'm saying how many potential buyers can fund a deal like that? I'd bet you'd have more of a chance of finding say 10 people to knock down smaller deals than the 1 person who could knock down the entire deal.
So many people claim to be able to fund a deal no issue no matter the size "if it's good enough" but I find that hard to believe and rarely see examples from it unless it's an established player...
Walnut Creek, CA · Member since 2015 · 3k+ posts · 2k+ votes
8y
Curious how you tackle this... what's the average price per unit? I'd imagine you have to break this down into smaller chunks other wise almost no one will be able to approach this.
No deal is too big for a master lease options operator.
Maybe if you have off the charts risk tolerance...... but someone wanting to retire probably A) doesn't want to deal w/ master lease and B) doesn't care to learn about the benefit of a master lease.
Even if avg price was 50k, how many people w/ almost 2mil cash for the down payment or who can qualify for 7+ mil loan are going to want to invest in Mesquite, TX (which has less than 200k people)....
Investor · Dallas, TX · Member since 2017 · 185 posts · 9 votes
8y
@Matt K. as mentioned we are still finalizing the numbers. By that, I mean comps are being ran on every individual property to establish their value individually. Additionally, leases for every property will become available. What if I told you they were all managed by a single property management company that could transition with the new owner?
@Matt K. as mentioned we are still finalizing the numbers. By that, I mean comps are being ran on every individual property to establish their value individually. Additionally, leases for every property will become available. What if I told you they were all managed by a single property management company that could transition with the new owner?
I'm not saying it isn't a good deal, I'm saying how many potential buyers can fund a deal like that? I'd bet you'd have more of a chance of finding say 10 people to knock down smaller deals than the 1 person who could knock down the entire deal.
So many people claim to be able to fund a deal no issue no matter the size "if it's good enough" but I find that hard to believe and rarely see examples from it unless it's an established player...
Investor · Shelton, WA · Member since 2017 · 6k+ posts · 6k+ votes
8y
Mequite is a hot, hot market could be some deals here if they are going to be sold off-market and priced accordingly. Presents a huge due diligence challenge to buy and sell as a group. Having an established PM in place is definitely a great benefit. Too big for me but; Keep us posted!
Investor · Dallas, TX · Member since 2017 · 185 posts · 9 votes
8y
@Matt K. I totally agree, it can be very hard to find a buyer for something this large! It is definitely a possibility that we will ultimately end up selling the properties in smaller packages, but to start we are going to see if we can knock it all down with one stone:)