Need PML for 67 SFR Purchase. We will flip all 67 within 6 months

[Scott Steffek]

I have an opportunity to purchase up to 67 sfr's located in various cities in and around the Chicago suburbs, from a bank. But first, let me tell you that I have a source for selling the properties at FULL retail price. The source I have, is purchasing anywhere from 10-15 sfr's a month, every month. I will be happy to divulge that source when we talk. The 67 sfr's are being offered through a bank. The purchase price will be somewhere in the area of $3.2M. It comes out to about $47.8k per door. Because they're all located in different suburbs, We'd be buying at about an average price of 65% of ARV. The vast majority of the homes are already tenanted and are turn key. There may be a few that need tenants, but overall they're rented. The bank has done an excellent job of maintaining the properties. There will be a few that will need some work, but nothing major. I have the option of purchasing all 67 or I can purchase as little as 20 of them. The source I have for selling them, is selling 10-15 per month, every month. So if we purchased all 67, that would give us a 5 to 6 month supply of homes to sell. Once they're sold, I'll be looking for a source to purchase 10-15 properties every month thereafter. I have 2 contractors for rehabbing and 2 property managers to manage the homes. Managing them is a requirement from my source. The homes also have to be turn key and preferably tenanted, before I offer them for sale. So having contractors to rehab them, is critical. My crews can currently handle 5 properties each, per month. We can expand if need be. This portfolio will not last long. The bank already has several companies that have expressed serious interest. I have the Pro Forma and I would need some paperwork to be signed, prior to sending it out. If you're a private money lender, then let's talk. Please, no brokers and serious inquiries only. I'll entertain an equity split for the right partnership, but a straight interest deal is preferred. However, I'm open to anything that is fair for both parties. Please PM me or you can reach me (Scott), at: 219-308-0162.