63 Property Turn Key package deal: South Georgia

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63 Property Turn Key package deal: South Georgia

Evan Miller
Jonesboro, GA · Member since 2015 · 25 posts · 3 votes

Hello I am a new wholesaler and came across a Seller who has a 63 property portfolio and would like to sell all the properties to one buyer. These are turn key properties located in South Georgia. Seems a little advanced for a novice investor like myself however I would be willing to do whatever I can to make the deal work. Since I have started I have focused my efforts on SFH targeted towards a Buy and Flip strategy. I have not done much analysis on Turn Key properties and would definitely be looking to partner with someone on a deal like this. I do not have the properties under contract and before I even ask a investor for help with the deal, I would make sure I do have the properties under contract.

My question is something like this even possible for a wholesale deal and should I entertain even trying to do the analysis on all of these properties?

Is it possible to put 63 properties at one time under contract?

How much time would be expected to complete a deal like this?

Thank you

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  • Account Closed
    Real Estate Investor / Joint Venture Specialist. · Crown Point , IN · Member since 2014 · 1k+ posts · 238 votes
    10y

    Are all the properties with the same bank? As far as the lending goes on it? 

    Commission wise check with Georgia has laws blocking people from brokering real estate so when you get into a commission that can be 100-250k that can throw up some red flags and is not worth the risk. 

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  • Luis Montanez
    Contractor · Marietta, GA · Member since 2013 · 174 posts · 64 votes
    10y

    @Evan Miller for me as potential buyer, I would only be interested if: (in the best case scenario) 

    1. ALL properties are vacant and cash flowing

    2. There is supporting documentation to show (pictures, address, tenant contracts, payment history and operating expenses).

    3.  I can acquire the properties at  70% of the appraisal value less cost of expenses.

    If you can gather all this information and get the properties under contract at 60% then you will be able to make the 10% spread.

    Cheers!

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