Wholesaling multi-property portfolio....?

[Daniel Hornsby]

Hey BP,
I recently spoke with an absentee owner who owns multiple rental properties in Michigan that are held in a trust (I think...). He is very knowledgeable on the current value of the homes and understands that the market here is doing SLIGHTLY better than it has been. Wholesaling these homes would be difficult, if it happens at all. (In terms of the seller letting them go at a discount, that is.)

He's tired of making the trip up here 2-3 times per year to check in on things but is NOT in a rush to sell. All units, save 1, are currently rented. They range anywhere from $63k-$95k. His asking price is close to $1M for the package.

I am not in any way trying to market these properties, I am simply asking for guidance in the matter of such a large deal. I thought about selling the homes off 1-by-1 but that doesn't seem to be an option. I am still learning a lot about investing in real estate and I know I will come across this again in my career and I want to be prepared when it does :).

How does one find a cash buyer for such a large investment?

Are the contracts the same as if it was just a single property?

How would you approach this type of deal?

Is this considered a commercial deal?

How would a wholesalers fee be calculated in this situation?

Any and all input is appreciated.

Thanks!

[Daniel Hornsby]

Thanks for the input Wayne Brooks and Jon W.. I don't think a wholesale deal will come out of this but, my curiosity must be sated! lol