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Real Estate Deal Analysis & Advice

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Stephen Robertson
  • Rental Property Investor
  • Lubbock, TX
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55
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2 dozen properties available in bulk

Stephen Robertson
  • Rental Property Investor
  • Lubbock, TX
Posted Jun 11 2014, 16:11

Alright,

So I've been speaking with a broker who has a pocket listing of 2 dozen properties in lower class neighborhoods (not quite warzones, but not much better than), in my town of Lubbock. I just started wholesaling and have very little in the way of funds or creditability. The total asking price for all properties is about 1.4M with a current gross annual rent of about 228k (all rented and cash flowing except for one property, two of the properties have a "rear" house with it). All of the buyers I'm working with are looking for equity versus cap rate. How do I go about either finding someone to help partner on this deal or just someone willing to buy my bulk buyers list as sort of a bird dog. The large number of properties makes it pretty overwhelming to try and wholesale individually and if I were to just try to wholesale a handful, I feel like any competent buyer would easily be able to contact the buyer directly to see what's still available that I haven't put under contract (thus circumventing my possibility for any more profit). Some of these are month to month and some are on a lease (I actually looked at one of them where the renter had been there 7 years).

Any advice from those more experienced than myself?

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