Our First Possible Bulk Purchase

[Brett Antisdel]

My fiance and I purchased and flipped our first property last year. We doubled our investment at closing (75k invested 150k sold) and realized this is something we really enjoyed doing.

Another property came to us by word of mouth and we picked it up and decided to rent it when we are finished with the rehab. The gentleman, who sold us the property, is getting up there in years and told us he may be looking to sell off the rest of his rental properties. (15 in total, 13 SFH, 2 Triplex)

Few questions:

First: Being newer to this industry, are we potentially biting off more than we can chew?

Second: Where are some resources on BP we can use to gain some knowledge on how to analyze and put this deal together?

Thanks for any input in advance

[Will Fraser]

Nice work, @Brett Antisdel!  

Yes, this might be more than you can handle, now.  However, there's more than one way to skin a cat, as they say.

If these are currently occupied rental properties then you could hire a manager to help with a number of them, and then take those back and self-manage in the years to come if you'd prefer that.  Otherwise if you're looking to flip them as they come vacant then operate them through the manager (or a partner you bring in who is savvy with operating properties) and then flip them when they come vacant.

Another route you could take is to share this with concern with the seller and see if they would be willing to sell you 3-4 right now (good for them, good for you) so that you could "grow up to it" and then sell you the rest at a time of his choosing.