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Updated over 7 years ago,

User Stats

305
Posts
88
Votes
Remone R.
  • Auburn, WA
88
Votes |
305
Posts

How do i close this deal??

Remone R.
  • Auburn, WA
Posted

I met a lady and her son that own roughly 11 properties throughout the city approximately 40+ units in their total portfolio. They've managed these properties for some years now and are looking to sell them all and retire in the near future. Some of these properties are transitional housing that they are in the process of converting over to "regular" housing. Me and my fiancee just bought a four unit property 6 months ago, but obviously want more properties in the future and this seems like the perfect opportunity to capitalize on. We mentioned speaking with her and discuss her possibly selling us her portfolio at some point, some how. She said we can discuss it as long as its done the right way using attorneys. She was very nice and offered to give advice and connect us with people to help us with our property.  Now being we've just purchased our first property and don't have much capital (especially to purchase this potential portfolio) we are not sure how to seal this deal, such as financing options etc. Ive read about different financing options such as seller financing but are clueless. I know not having any financials doesn't benefit much, but i wanted to get a jumpstart with some ideas how to approach this before our meeting...Any advice?? much is needed

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