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Updated almost 4 years ago,
DM letters worked ! They offered me 14 properties now I'm nervous
I'm a newbie from Indiana. I have listened to BP podcast for months and read the books. I mailed out my first round of DM letters Jan 1 and BAM, I received a text from a owner that gave me a price for a house and offered to sell 14 other rentals in our town, all but 2 occupied. YIKES! His price is pretty reasonable for total package. However, I am so nervous about getting someone else's tenants. The properties are rough and need work, but ideal rentals for this small town area. The owner has had them for over 20 years and ready to retire and get rid of them. Also, I wanted to BRRRR properties but how do I do that with tenants in the house? This moratorium talk also has me nervous! He's even willing to do seller financing. I do not think I will get a opportunity like this again but there is definitely some anxiety about how to handle these houses to successfully cash flow and BRRRR. My initial idea was to buy one by one as BRRRR properties. Also, they quit signing leases and scanning tenants, so there's that too. Any advise on taking the risk or what to use caution with would be appreciated. Thanks!