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Updated over 1 year ago,
11 million dollar portfolio deal
Hello BP community, I have recently come across a gentleman who owns a portfolio of 45 properties. Of all the strategies, it was D4D. He is a tired landlord who actually does all the property management himself. He is wanting to retire and move to Hawaii (currently in CA). He is unable to as he has not found a true property manager he can trust in all the years he's been investing.
He is forced to sell as a bundle and can not part out as it would interfere with this exchange.
My first thoughts are to pass the deal along but whoever purchases this portfolio would be an instant millionaire at the price point he's selling at. It's hard for me to pass that along.
My second thoughts are to find a lender and dissect the portfolio and sell off one by one.
Is it naive to think I can find a lender for this portfolio? He's willing to sell low and take a haircut, so long he is able to 1031 in to a different, hands off property.
All the homes are within a few miles of each other and are rented out. He's currently bringing in a hair over 60k a month in rent alone.
Any input and suggestions/ advice or a referral to a lender would be greatly appreciated.
Thank you BP community.