Evening community, so I have acquired my first potential deal. Now I do have the opportunity to wholesale the deal, but I think I would rather do seller financing. A little bit about the deal is that this seller has 5 properties with current rent rolls through section 8. Currently the seller is asking for $230k for all five. Is there a way instead of me wholesaling the deal acquire all five properties through seller finance?
All suggestions and recommendations are gladly welcome.
Tell the seller you are interested in buying all properties and ask if she/he will consider a small down payment now then monthly payments.
But is it a good deal? What are the houses worth? Is $230k retail? What kind of condition are they in? Need more info to determine if this is even a good deal. You can pay more if you can buy with seller financing but you don’t want to pay retail for properties that need repair.
Jackie, so I just finished up the call with the seller, he is currently at 260k. All the properties have been rehab in full.
Also he looking for a cash buyer so that he could put the money towards another invest. Did the comps and actually received the rent roll. Jackie could I email you the information and you could give me a little more insight?