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Updated over 7 years ago on . Most recent reply

User Stats

46
Posts
1
Votes
Mike O.
  • Flipper
  • Mitchell, SD
1
Votes |
46
Posts

How would you look at this opportunity?

Mike O.
  • Flipper
  • Mitchell, SD
Posted

I called on a home this weekend hoping to take a look and see if there was a deal to be had. After speaking with owner, she is wanting to retire in 1 year and has 8 single family units (not sure on numbers yet; all are occupied) she would like to sell in the next 1-2 years, in one year she is eligible for social security, I do not know the technicalities of social security, she mentioned if she made a large lump sum prior to social security eligibility there might be an issue with her benefits moving forward (?), thus she is wanting to put gears in motion. I am not 100% certain, but from our previous conversation (I will need to confirm) it sounds like the properties are debt free.

Anyway...I was wondering if anyone had any advice on a potential purchase structure or whole sale? I  thought perhaps to whole sale the properties, probably one at a time and tell the owner up front I will not be purchasing the properties but could find her buyers and reduce her hassle trying to get rid of the portfolio...or

Maybe a CFD or master lease possibility on the properties and then try to refinance in a couple years for myself. Maybe I am getting ahead of myself a bit, just looking for any advice or perspective on how to look at this opportunity.

I have limited capital <$15,000, but thought this might be a great opportunity.

Thanks

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