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Updated over 4 years ago on . Most recent reply

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7
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Brian Decker
1
Votes |
7
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Buying a package deal of houses

Brian Decker
Posted

I just closed on my first rental property 2 days ago, a SFR with 3bd/1.5ba. It will cash flow about $500 per month. I used a conventional loan and put 25% down for the purchase. I am now looking for my next property and found a package deal. The deal is 4 houses with a total price tag of 320000 asking price. They have been listed on Zillow for over 300 days, so I think the asking price could drop 10-15K per house. The properties currently have tenants, with a combined income of 4325/month.

My question is, how do I make this deal?  I only have about $20K on hand to make a deal since I just closed on my first property.  Is it possible to get a bank loan to cover all 4 properties at once?

Thanks in advance.

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