Updated over 7 years ago on . Most recent reply
wholesaling 9 units/3 properties
I have a seller with 9 units hes trying to get rid of. 3 properties. A 5 unit and 2 duplexes. He wants 760k and he owes half of that still. He doesn't want to pay the 7% realtor commission so he called me. I'm not sure if its a deal or not. I need to run the numbers. All 3 properties are next to each other.
What information do I need to get from him, seeing as one of the properties is commercial, 5 units? 8 of the 9 units are rented. The one that is vacant, he will show me tomorrow. The others I can't see right now.
What is the best strategy to take, if I sell them as a package deal or break them up and sell them individually?
If 760k is too much, should I make an offer on just one of the properties to wholesale and go from there? Is there any specific language I need to use in my contract to sell them individually?
I haven't done a deal yet, so to get all of these properties at the same time is a bit overwhelming. Not that I can't handle it, just not sure if there're any gotchas to be aware of or if anyone has done this and has the best way to approach the seller? TIA!