BIG Investment Opportunity! 64 rentals

[Khyler Holderbaum]

Have the opportunity to purchase 64 homes, all have renters, book of business is very profitable. 90% of the properties have new roofs. There is a full time caretaker hired for 35K a year. Comes with lawn care equipment. Maintenance guy has his electrical license and plumbing license. Seems like a great deal, located in Ashland KY. Guy is wanting me throw out an offer first. Cheapest rent is 600$ a month, to 1,200 a month. What are my purchasing options? At 60K a house that puts me at a 3.84 million dollar loan. 25% down is 960,000. Any thoughts? Should I offer this guy a 5 year plan to help him save on capital gains? Owner finance? Just a lot of variables and am relatively new to the industry. 

Thanks! 
Khyler 

[Gregory Schwartz]

@Khyler Holderbaum, it’s great that you’ve found a potential deal. However, given the many variables, it's hard to provide specific advice on price or strategy. Here are a few key considerations:

1. Can you obtain a rent roll and T-12?
2. What’s the age of the properties?
3. What are the market rents?
4. How old is the HVAC system?
5. What other expenses are there (snow removal, lawn care, internet, utilities)?
6. What’s the seller’s situation? Is he seeking passive retirement income?
7. How well advertised is the deal? Are there other buyers?

The list could go on. I’d recommend finding an experienced partner or mentor local to Ashland, ideally someone you already have a relationship with and not just someone looking to profit from your deal.