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New investor, new to real estate. 16 years in the I.T industry, well versed in many areas of computers/IT, if you have a problem please ask. Recently, a 4 house deal was brought to my attention. I potentially have the opportunity to purchase these at a steep discount. Current owner owns 4 consecutive houses outright, he is elderly with unfortunate health issues. Houses are in fair shape, could use some TLC. Three are currently rented out, fourth property is undergoing minor repairs and has been vacant for 6 months. All four are 3bd/2bath, basement, kitchen/dining/living room on 1st floor, bedrooms/bath on second floor, attic.
Because I am new, I am frantically researching where to start, what options I have, and just generally trying to figure out how I would structure this deal. I don’t have much cash to put down, he’s willing to sell at a discount for package deal. I am thinking that re-selling as lease option would work well for me.
Likely need to meet with him again to ask additional questions to help gain a better understanding of what his actual needs are, what properties are currently renting for, taxes/insurance costs ect….
What would you do?
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