In need of advice purchasing a portfolio of 10 SFRs

[Dario Cruz]

Good morning BP! I am cold calling 20 leads a day and came about one that the owner is interested in selling off the remainder of his portfolio of 10 SFRs as a package. I need some help/advice on how I should proceed. Below are some details I was able to get off the phone-

The properties are located in Tappahannock,VA and the owner has had them since ‘96.
Owner would like to get at least 90% of market value for the properties 

Not interested in seller financing, needs to split the profits with ex. 

All the properties are currently LTRs on 60 day notices 

Any feed back and suggestions on how to proceed are greatly appreciated! 

-Dario 

[Marcus Auerbach]

Good for you for making 20 calls a day! That's tough work!

Selling a portfolio is always a challange, because the big guys are not interested, the newbies don't have deep enough pockets. What the seller should do for max profit is get them emply, updated and sell them individually retail - basically flipping.

For you it means an opportunity to negotiate maybe 80% or 85% ARV. Easiest would be to bring in a partner (family money?) for down payment. Maybe talk to the seller's lender. You'll need a commercial portfolio loan.

A second step could be to sell off the cherries and the dogs at retail to re-coup the down payment and pay off your partner.