Investment Info:

Large multi-family (5+ units) wholesale investment in Royal Oak.

Sale price: $16,000,000

Large legacy portfolio of 12 properties. Original plan was to buy and hold until another investor made an unsolicited offer while under contract. Kept 4 properties. Sold the rest.

What made you interested in investing in this type of deal?

Legacy properties. Never sold since original development in 1950-1970. Excellent locations.

How did you find this deal and how did you negotiate it?

Mailer. Direct to seller. Direct to buyer.

How did you finance this deal?

Private Investors

What was the outcome?

Significant wholesale profits split among partners.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Legal: Honigman