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Updated over 7 years ago,

User Stats

26
Posts
3
Votes
Wes Butler
  • Socorro, NM
3
Votes |
26
Posts

Just started on BP and found a big opportunity, seeking advice

Wes Butler
  • Socorro, NM
Posted

I'm still new to BP, so I am not sure on the proper etiquette... Please correct me if I should post this some other way.

I have been working on finding my first deal, and this BIG ONE landed in my lap. 

26 units all within about 2 hours of Albuquerque. I just found out about this today, so more details will follow when I get them. I am pretty sure these are all apartment units, and also pretty sure they are completely paid off. My friend (in his 60's) is the oldest heir of a couple in their 80's (still alive). He wants to sell all these units as a package deal. These are NOT listed on MLS or with an agent. There is no property manager, and the couple manages the properties themselves. I don't expect fire sale prices, but probably pretty close.

This deal is too big for me, and I am not in a position to seek hard money.

How do I find a partner? I know I bring nothing to the table, except my good looks and a willingness to do a ton of legwork. I am not expecting a 50/50 split because of this, but I am sure if I find an interested person who has the ability to close the deal then we can agree on a fair split.

This is going to be a very good deal, but I have no clue where to start.

Any and all advice would be greatly appreciated.

Thanks, Wes

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