All Forum Posts by: Amy Ranae

Hi BP Friends! 

I have an investor who had contracted me to help him sell his portfolio of about 100 houses which are currently rented. While my brokerage can handle listing them all individually, I proposed we package them up and sell them as smaller portfolios. If we can't procure a buyer for the larger packages we will begin listing them after 30-45 days. 

I've got them posted in the marketplace here and on Facebook, but I'm wondering if you have other creative ideas for finding a buyer for the whole deal, or for multiple properties. I've been calling everyone I know who might have a buyer like this. What am I not thinking of? 

Thanks for your help! 

Can you tell me what you know about buying a redemption deal? I just looked at a deal. 256k at the sheriff sale 8.5 interest on the primary No seconds 13k to the owner 10k to the wholesaler 75k in rehab that we could do in 2 months Redemption period ends 8/1 ARV 415k Would you do this deal? How scary is it? What’s your experience? I’ve got a call into my attorney and title co for opinions but I’m interested in what you have to say.

I did not!

Hey BP friends! I just wrapped up a flip and god it under contract, closing 12/27! I’m shopping for the next:) I think it’s time to start hanging out with you guys! When/where are the Minneapolis/st paul meet ups?

Do you know any great tile people in the twin cities?

@John Thedford I have tried several times but it won't let me save. I reached out to support so hopefully I get it fixed soon =) 

Hey BP friends! Thanks for always helping to keep me motivated. Life has been full this summer, I started a brokerage, hired a few agents and have been selling more houses than I ever have (almost double!!) Also!!! I just closed on a deal last week, I’m flipping it. We are underway on the rehab and hoping to be on the market in early November. Here are the numbers: Purchase price 100k Hard money loan 37k for rehab ARV 193,500 per appraisal Likely profit: 47k It’s a 2/1 1.5 story. When we are done, it will be a 3/2 and I think I can list it for 195k. Wish us luck! I’ll post pics when it’s done:)

Hi BP friends! I'm considering purchasing a sfr that is currently rented. The tenants are trying to purchase from the landlord but are self employed and their co borrower is a pain in the ***. I know the tenants and their biz and I feel super comfortable w their ability to make payments. I am representing them in the purchase, the landlord is not represented. Here is a thought I'm having: if I purchase the house the tenants can rent from me and buy the house from me in 2 years when their tax returns are completed in such a way that the bank will accept them. OR. I buy the house and they purchase from me on a contract for deed whenever they feel like doing so. The house is cute and I could resell it easily in the future if I buy it for the right price. Here's my question: I haven't done any contract for deed as an agent or a buyer or a seller. How are these things structured usually? Would a lease option be a better route? Or just draw up a contract w an attorney saying they will buy me out in 2 years. What would you recommend? Thanks for your help!

@Mike Fletcher YOU ARE AMAZING! This is exactly what I was looking for. And yes, my feeling was that 70-75k/door was about what they "should" go for based on what I've been seeing. 

As our inventory of listed mf properties is next to nothing, I'm doing my dirty work on unlisted stuff to educate myself, and then hopefully get an off market deal that I can put together myself. I might come back with questions but this is literally what I was looking for. A first little test to see if its worth my time in looking people up and tracking them down.

THANKS!!!!

@Billy D., I'll look them up. I'm familiar w/ the 1% rule for single fam but will have to look into the 50% rule. And yes, I'm not looking for my final decision of yes or no to buy, mostly to determine if 1. I can even afford to move forward on the deal, and 2. if it is worth my time to look up the owners number and start bugging them =) Thanks!