Partnership ideas for 33 portfolio Las Vegas.

[Jordan Murrell]

We have been working on acquiring this portfolio. We are almost at the finish line. Honestly, this has been a whirlwind of a transaction. This past month has been filled with many negotiations, headaches and ample learning lessons. I couldn't have asked for a better experience so young into my investing career. 

Initially, the seller and I were discussing the best approach for him to offload his portfolio. He has been going through quite a tough time as his parent's are taking care of him. His parent's are elderly... 80 plus years of age. He also just had some hard times accompanied with a life changing surgery. This surgery will not allow him to be the same ever again. It is quite sad.

With that being said, he has been working with me about the portfolio he has with his family. His family consists of his siblings who are back in their homeland thousands of miles away. They aren't able to travel because of COVID 19.  The portfolio discussions were started at $10 million. After many phone conversations and meetings while social distancing, we have agreed to a price of $7.25 million. 

Now, I know what you're saying... Jordan... How are you going to fund this? You're right. That is a great question. BiggerPockets typically reiterates that the deal is hardest to get. Once the deal is secured, the money will follow. Well, here's the time I am looking for the money to follow. At this time, I would be looking for suggestions on how and who would help fund this transaction. There are some great opportunities within this portfolio, properties with great equity and decent rents. Las Vegas is definitely a hot spot for real estate. 

I would be looking for partners to take this portfolio down with. There are a few flip opportunities as well as buy and hold options. I have asked friend's and family to help fund the deal... Frankly, none of them have this capital that this deal would require. My current partners also don't have the capital to complete this deal. Any suggestions would be greatly appreciated.