All Forum Posts by: Evan Kline

Hi Bill,

Thank you for your response. It does feel that way a bit, but I've shot and killed a deer in my backyard with a BB gun before so maybe an elephant is possible too!

The private money is within the family- We haven't sat down and talked numbers yet (still waiting on more details of the deal) but it wouldn't be exorbitant.  

I am hoping to do a blend of private money and seller financing- I'm hoping to find out today what the seller wants to do with the money: let it sit in savings or purchase a yacht (hypothetical). That will help determine if they would be interested in a seller financing route.

The properties are all in my neighborhood (B to A- neighborhood) within a 10 minute drive. I was originally looking at one of the properties until I realized the owner is seller a portfolio and prefers to sell it complete. Knowing it would be a better deal to purchase everything I changed my strategy to include the opportunity. 

From what I know at the moment these will all be hold properties with some rehab. I could see some being sold 5 years down the road. 

And to your advice- I'm doing everything I can to execute with informed action. And I'm ok walking away if the numbers don't work. Not emotionally invested by any means. Just trying to get in the game and after doing research in my area on MLS, public records, driving for dollars, local market white papers etc. this fell on my plate!

Hey BP community-

I've been educating myself the past few months and a deal presented itself that I'm making moves towards. A local investor is liquidating 13-14 rental properties and it seems like there is a good opportunity. I did some research through public records and the owner is 86 years old who bought the majority of these properties in the 80's, most likely retiring. Most if not all the homes are tenant occupied and could be turn-key properties (though also carry the risk of poorly vetted tenants).  

The seller seems fairly disorganized- listings aren't complete, some homes are listed as for sale on some sites but not others. None of the homes in question have for sale signs (I drove around and found what ones I could). 

I may have access to a private money lender, but the individual I have in mind may not be able to front the full portfolio. I doubt I'll qualify for conventional financing in this amount. 

However whatever the case I'm unsure the total value of the portfolio as I don't have access to the MLS and the only succinct list of the houses are MLS #'s.

I called a local Keller Williams agent today to help me sort all this out, find out some figures and begin the conversations. I would have contacted the seller personally but they appear to be very old school and I can't find their info online, with the exception of a possible address. 

So I'm looking for some advice as I begin this process- should I drop the agent and pursue the tax address I found first? 

All the properties I've seen are listed at fair market value, but are in various states of needing TLC. BUT as far as I can tell some of these houses have been listed for over a year and a half so I feel there could be plenty of room for negotiation. I'd like to float a seller-financing option as a solution to my financing issue. 

I feel I have a solid opportunity here, but also feel I'm fumbling around a bit. But I also know the #1 thing I need to do is take action: what questions should I be asking, what people should I try and pull on my team, what actions should I be taking, etc. 

Thanks!