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Updated over 7 years ago,
Should I wholesale or owner finance these 10+ rental properties?
Hello All,
My partner and I are new to wholesaling and would like some advice on how to approaching our first potential deal.
The seller is old, has a full functioning business and lives 75 miles from the properties in the midwest. He simply wants to rid himself of the properties so he doesn't have to worry about them anymore. (He's owned them all 15+ years).
As we live in the Bay Area, we don't know if wholesaling,convincing him to owner finance, or finding funding to put a down payment is the better option. We currently have no capital so we would need to find some type of financing to take on the properties.
Real Estate has been declining in this city as well, but the seller makes a good amount of money on rental income each month and has for 15+ years.
Any and all advice is welcome. THANKS!