Packaged Deal Novice

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  • The R/E management company for a financial institution with whom I have a couple of rental loans reached out to me offering 24 off-market properties for sale. They are all single family residences. The properties are not REOs. Seller has free and clear titles. All but 2 are occupied with current performing leases expiring later this year. All have been remodeled, with most as recent as 2019. In effect, they are “turnkey”.

    The properties are in and around a large metro area. Half are in the metro area proper. I would like to make an offer on some, if not all, of the homes in the metro area..

    I asked about seller financing but was told to reach out to the “previous” lender. I assume that is their institutional client. Also, I don’t know if it is the same institution for all the properties.

    I have no experience doing packaged deals. Nor do I know how to properly value or make an offer at this scale. I normally do fix and hold.

    I am looking for some suggestions on how to approach this opportunity.

    Below are my numbers:


    INCOME (12 Homes)
    Rental Income $238,920/yr
    Total Operating Expenses $131,313 (includes all utilities, pm, reserves, taxes, etc.)
    Net Operating Income $107,472 47.3%


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