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Updated over 10 years ago on . Most recent reply

User Stats

26
Posts
1
Votes
Chanda Titus
  • Real Estate Investor
  • Durham, NC
1
Votes |
26
Posts

Investment Bundle Deal!

Chanda Titus
  • Real Estate Investor
  • Durham, NC
Posted

Ok Biggerpockets Family, I really need some love on this scenario.

I have an owner that wants to bundle all four of her residential homes to sell in one package deal. Great you say....hold that response. She's currently behind in payments and taxes but the bank hasn't started any foreclosure proceedings (yet).

Facts: She recently refinanced them un 2008 and pulled out a lot of equity, not all of it but most of it to cover medical expenses. There still is about $60k for an investor. Three of the four properties are rented and those tenants want to stay. Actually two of them would like to do lease-options with the new owners. The fourth property is vacant (within one month) and needs about $15k work. The Sellers are elderly and would like to be done with the landlord side of things. Also, sellers are willing to do an Option of some sort until the Buyer can qualify and three of the four properties are in a Historical district and have been declared such.

My question: Does it sound like I'm stepping into some mess? Or does anyone out there think this is a pretty good deal to try and whole sell? I'd like to think so but I might be a little on the compassionate side of the fence for the Sellers. Please give any and all true opinions of your take on this deal.

Thanks Friends

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