Real Estate Agent · KS · Member since 2017 · 157 posts · 71 votes
A member of my investment team lead me on to this off market deal today. A client of her property management company is looking to sell their portfolio of 28 rental properties and would rather sell them all together than individually. At current price I would need about $1.8 million to close. I would like to come up with an offer but of course would need to team up and raise the capital first. I am looking for input and advice and would love to hear your thoughts. Attached is a link to a few of the overall numbers I have regarding rents and expenses.
Real Estate Investor/Broker · Irving, TX · Member since 2015 · 520 posts · 263 votes
8y
This is a 7.5% gross yield at current rents... that's like a 4% net yield most likely. You can't even borrow for less than 4%. Sounds like a horrible deal to me for a beginner and syndicator. Might make sense if you're HNW who needs to place money for the long term with 60-65% leverage... and banking of future appreciation with Denver growth.
Real Estate Agent · Denver, CO · Member since 2017 · 41 posts · 21 votes
8y
Dustin, I actually have been inside all of these properties. We were approached last month about this portfolio. Spent a few weeks doing the UW on it. Feel free to pm me and I can let you know what we found. We passed on it because they wouldn’t come off their price enough