Looking to wholesale a 12 unit turnkey multi family?
Any tips or things to remember when wholesaling such a deal? I imagine cash buyers will want to view the units and mechanicals of the building so I was going to make sure I get keys and access if I get it under contract.
Do these larger investors that buyer $1m+ deals and multi family’s typically want full access to review every single unit? Or are photos and access to a few of the vacant units typically enough to get the idea across for the buyer?
I’ll be pricing the deal so the buyer gets instant equity anyways. The extra money could be put towards renovations of all units assuming $20,000 is allocated to each unit, that would bring the total acquisition and costs for that buyer closer to the current market value here if not bring it up more because the comps are based on non renovated units
If they left it in current condition it’s in a rentable turnkey state, cash flowing nicely with great unit mix. I think in the case of this deal it would be good to leave it and update units as they become necessary. Though if they were updated quickly, the end buyer would be able to justify larger rents easily.
Either way I cut it up, it would be a great deal for an investor looking to place their cash somewhere instead of a bank.
Any tips or things to consider if I get this under contract. I’d really appreciate hearing from other wholesalers who have done similar larger size deals with better assignments for us