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Updated over 9 years ago on . Most recent reply

User Stats

604
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222
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Jim Viens
  • Rental Property Investor
  • Kansas City, KS
222
Votes |
604
Posts

Help negotiating on possible lead

Jim Viens
  • Rental Property Investor
  • Kansas City, KS
Posted

The house directly across the street from my personal residence is a rental. The guy that owns it owns 7 rental properties in the immediate area. They are all in good condition with renters. He's wanting to get out of the game as he does his own management and he had a stroke a couple of years ago so he can't keep up with things like he used to. I would LOVE to be able to work something out with him but would need a creative solution to get these off his hands. The ARV's on each of them is around $85,000 and market rent is about $850-$900/mo (not sure at this point what he's charging). I don't have anything significant to put down and would like to be able to negotiate 100% owner-finance for at least 5 years. I'd even be willing to take them off his hands one at a time if need be. Any ideas on how I can help him liquidate these assets and get my portfolio started? I'd like to take him to lunch sometime to discuss things but would like to have a possible deal to lay out to him beforehand.

Thanks!

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