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Updated almost 9 years ago,
First potential option contract this week. 2 property package?
My partner and I have officially made contact with our first real lead and are planning to meet this week with the seller of two semi-distressed properties (they are livable, just not beautiful). We've spent the last few weeks preparing the necessary materials (Option to Purchase Agreement, Sales Agreement, Consideration check) to do the deal legally. We are also working out potential financing options ( we will shoot for a 0 interest terms agreement, but have also determined a minimum cash offer just incase negotiations go south). Totally prepared to make a follow up appointment if we don't get ink on paper at the first meeting.
This is our first deal so we're most likely forgetting something. Is there anything in particular that really sticks out as missing and could cost us the deal?
My second question is a little more complicated. How would we go about packaging the two properties because they are both in the same neighborhood? Does anybody have any proven strategies to accomplish this? Are there any benefits to packaging as opposed to contracting the properties separately?
We've only got two days before the meeting so I look forward to hearing any and all advice you guys have.
Thanks a million!