Updated over 6 years ago on . Most recent reply
Wholesaling a portfolio
I came across a landlord that is looking to retire soon and is interested in selling their portfolio. This would be 28 SFH's in A-B areas. Rents are at or slightly below market rents. Homes have been well-maintained...dare I say turn-key or near turn-key. Owner is completely open to me wholesaling these and has provided a baseline price they want to see in return. All those details aren't really relevant to my question, just providing some colorful background....
Anyways, has anyone wholesaled a portfolio of rentals before? Any pitfalls I should be aware? Seems like same workflow as WS'ing one house, just with more time and analysis. Owner is wanting to get rid of them all at once with the idea that it will be quicker and easier. I think they'd settle for selling in smaller chunks but would need convincing.
Do I need a contract for each one even if they are sold together? Or will one blanket purchase contract suffice?