Package deal for sale, need advice

[Jon Mark]

I discovered bigger pockets over a year ago, and have been listening to every podcast, reading books, and doing research in my free time ever since. I’m ready to pull the trigger and think I found a good, less common of a deal. Please let me know what you think.

Description: the deal is 4 homes on the same street and neighboring lots, listed as one for sale at $560,000

Property 1 & 2 are the exact same layout and are the nicer of the bunch. They are 3 bed, 2 1/2 barn, 1 car garage, on a slab. They both rent out for $1300/month

Property 3 is a 3 bedroom, 2 bath mobile home and rents for $1200 a month

Property 4 is a 2 bedroom, 1 bath mobile home and dents for $825/month

All are rented a little below market value

Annual property taxes are $6,644 combined.

The properties sit in a “B” class neighborhood and in a developing area within minutes of shopping and eating, and about 5 minutes from my personal residence.

I believe the asking price is too high and should be closer to 400k-450k, but I understand the significance of cash flow, so it doesn’t scare me away if it’s overpriced.

All together the rents are bringing in close to 56k annually, which is how he got to his asking price (10 percent return for cash buyer), but here lies the problem I am not a cash buyer.

I could put down 15k-30k, but that’s nowhere close to 20 percent. I asked about seller financing, but no dice. I am speaking with a private lender tomorrow. I am hoping the lender might see the math and fund the deal since it works.

Any advice is appreciated.