Wholesale/Partner Deal - Triplex Near Denver

[Tim Jones]

Hello. I'm testing the waters for a wholesale/partner deal.  I do not currently have it under contract, but the deadline is tonight, and they are making a decision tomorrow.  I walked all of the units yesterday and I know what the other offers currently are. I don't have enough cash to do the deal myself, but would be interested in wholesaling or partnering. ie I will handle all of the on-the-ground logistics if someone comes with the cash.

Brick triplex just outside of Denver. Fully leased, all with month to month, so easy opportunity to get it rented properly as the current rents are low. One 3 bedroom unit, and two 2 bedroom units. Two of the units are rent-able, the third needs a full rehab, but the current tenant has been there for 6 years and lives like a slob. No HOA. Property taxes are $1400. Owner pays water, gas is submetered.

Purchase Price: $295,000 (other highest offer is $285k)

Closing Costs: $20,650 (estimated and buyer pays all)

Rehab Costs: $10,000 (estimated)

Estimated Income: $3,200 - 3,485 (Unit 1: $1295, Unit 2: $1195, Unit 3: $995)

Current Income: $2,100