Multiple OFF MARKET deals in Cedar Rapids, IA

[Austin Davis]

Hello BP!

I have recently become an agent, and since then, have hosted multiple REIA meetings and networked with many people. With this, I have come across multiple investors that would like to sell all or a portion of their rental portfolio (SFH's) in Cedar Rapids, IA to invest in other opportunities. Two of the packages, the owners are open to the idea of selling on contract and will accept a 10% down payment if the offer is right.

The other package is consists of contract buy outs where the Single family houses were sold on contract to the occupant, because they weren't able to get a traditional loan from the bank.  The purchase would be at the current contract buy out price, which is significantly discounted, and would be mostly passive because the buyer of the contract is only playing the role of the bank(accepting money).  They are solid occupants that have all been there 5+ years and are all looking to renew their contracts in the very near future.  If they do default or want to walk away (not likely), you would get the house back with all the equity that they paid down to do whatever you would want with it.  It is just monthly passive income otherwise.  

Most of these properties are already managed my the property manager that I use and would mostly be turn key.  The ones that are not, could be easily transitioned.

Shoot me a PM if you would be interested in pursuing one or all of these.  Looking forward to talking with you.

Thanks!