How to buy Estate houses in Package Deal.

[Josh Reed]

There are about five houses about to post to MLS from an estate per one of my Realtors. They are going to be sold separately at what I can imagine won’t be a good deal. I think together they have potential as the could almost be considered multi family units or cottage developments. How do the commercial guys run the numbers for offering on all houses in one deal. This might be my jump into commercial. I have the ability to put at least 30 or 40 down if I had to and plan to hold and or find a partner after getting under contract. Going to look tomorrow but Say ARV of each house is 100k sold separately They rent for 700 conservatively. Need 15k repairs each. Are Estate managers considered motivated sellers. They want to get cash out and pay the grantees? Thanks.

[Ryan Dossey]

This to me sounds like it's probably a "no deal". In my experience most packages are not great. I'm not sure on the specifics of the particular market you're looking at but I would never pay 100k for something only bringing in $700 n rent. If the ARV is 100k and they need 15k you would need to be in at 60k or less per house to be able to BRRRR out of them.

Most estate managers are getting a % of the sales price. So they are typically going to want to max that out unless their is a pressing urgency in the family to sell. 

The other part of the issue is your financing contingency. You may have a shot of swooping them all up for 250-300k cash but if I've got a buyer wanting a discount, using financing, and wanting to tie up all 5... My inclination as a broker would be to pass.