Financial Tools/Strategy Specifically for Acquiring Package Deals

[Chris English]

I am the first to catch word of retiring landlord with 150 dirt cheap off market properties in a small town close to me.  I'm talking (2) $60K duplexes, and one $125K fourplex all above 2.2% rent to price in fair/good condition. I've been in the game in this market a while as I have 12 units and 3 single family homes and know this is a great deal. I really want to absorb as much as possible but only have about 70K in cash available, so I'd rely on financing, which I am no stranger to. I am just now getting the ball rolling with some lenders. Problem is, the first bank I've talked to said that I am going to get killed in fees, closing costs and interest, as it would be treated as 3 separate very small mortgages. 

Talking strategy, what would you do in this situation?

[Max Ferguson]

Bringing in a partner with the funds needed or portfolio loan, talk to more banks it sounds like would be the best option. 

I am a little confused, you play to buy 8 total units from him though? Or the full 150? obviously 150 doors on conventional loans for each would murder you so I assume that is the case and the 8 doors listed are just examples. 

at 150 doors you need to start talking to fund managers or heavy hitters in the multifamily space. It would be an amazing way to level up and bring a great deal to someone you could learn from/partner with/use their capital. 

Good luck and update us with what you find!