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Updated almost 8 years ago on . Most recent reply
A friend lost her mother & wants to sell 4 SFR she inherited
Good evening BP!
I wanted to see if anyone out there could give me some advice on the following situation. A friend of ours recently lost her 90 year old mother, now she has inherited four SFR's and she doesn't want anything to do with them. I have a call tomorrow with her to get some information and I was hoping I could get some good questions / advice from you seasoned investors out there. I figured she may not have all the answers to some of these.
Here is the list I have currently:
Age of each house
Age of roof and HVAC on each
Have any of the homes been rehabbed / renovated? If so, when?
Lease expiration and income (rent, pet, etc.)
Are they managed by a management company?
Question I would like to know is could this be a seller finance opportunity?
She told my wife she wants to dump them so I am confident we can buy right. As of now, I haven't done any SFR deals but will be under contract on a 36 unit deal later this month or the beginning of June. I have been focused on multifamily and really wasn't looking to get into the SFR space but since this came up, I thought it woud at least be worth exploring.
Thanks for any and all advice!
Best,
Chris