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Updated almost 9 years ago on . Most recent reply

User Stats

46
Posts
27
Votes
Elijah Artman
  • Investor
  • Sacramento, CA
27
Votes |
46
Posts

What to Do With 5 FourPlex Buildings? Before they're on MLS?

Elijah Artman
  • Investor
  • Sacramento, CA
Posted

Hello colleagues,
Thanks to BP podcast, I'm a landlord of a fourplex in Sacramento, (near CSUS) zip 95825
I've found out that 5 four-plex buildings (quadruplexes) on my street will be going to MLS in few days.
I got a hold of the listing agent, and expressed an interest, he is open to hear my offers before he lists them. (all 5 in one sale, asking about 1.2 million)
I bought my building 9 months ago for 285K (and it was in a bad shape)
so the 5 building deal sounds good, (in addition they're rented and half of them are remodeled)

Here is the question:
How can I find a partner who would finance everything and I would deal with management? (since I live on the street)
If I would partner with a potential investor who would finance the down payment,- what should my partnership look like? (% wise)

please advise?
I would like to hear @Brandon Turner thought on this. (if you can)

keywords: fourplex, 4pelx, quad, multi-family, 20 units, sacramento,

Most Popular Reply

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13,324
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3,946
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Brandon Turner
#3 Questions About BiggerPockets & Official Site Announcements Contributor
  • Investor
  • Maui, HI
3,946
Votes |
13,324
Posts
Brandon Turner
#3 Questions About BiggerPockets & Official Site Announcements Contributor
  • Investor
  • Maui, HI
Replied

Hey @Elijah Artman- yeah, like Alexander said - make sure you have a firm grasp on the numbers, as a partner is gonna want that. The best partners also come from pre-existing relationships. People you've met at local real estate clubs, family, friends, etc. So networking is key in this area. Hope that helps some! 

  • Brandon Turner
  • Podcast Guest on Show #92
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