All Forum Posts by: Chandra Minter

Hello everyone! I'm looking for a Wholesale friendly Title Company or Attorney in the Roanoke VA area. All references and suggestions are appreciated.

@Corby Goade Quick update...I went the MLO route on this deal however the seller was not interested. Thanks again for your advice as I will keep these strategies in mind when similar deals are presented in the future.

@Matt Crusinberry Matt, thanks for sharing that information. I read the article and reached out to the seller. At this time he's more concerned about selling the portfolio and having the properties off his hands. But I did offer the MLO. Thanks again for your advice. I'll definitely consider that strategy when the opportunity presents itself again.

@Matt Crusinberry Thanks!

@Corby Goade Thank you so much and I will keep you posted!

@Corby Goade Thanks for your input! Can you help me understand how a perpetuity would work as far as my ownership in the portfolio and how that would impact my monthly profits 

Have you seen any deals where the owner will carry the entire balance in return for a premium of rents? If so, how is such a transaction structured?

The final suggestion is what I'm most interested in. What would a deal work in which the owner keeps 25% equity with me as a passive investor? 

Your advice so far definitely has me on every real estate site and google working hard to figure out how to best go about this. Any additional help is greatly appreciated.

@Alina Trigub Thanks for your help. I will PM regarding buying the full pfo.

@Matt Crusinberry Can you explain a little about the master lease route as this is something I haven't heard of but seems like a route that may be beneficial in this scenario.

I've been investing in real estate for the last 2.5 years however my current portfolio is small as I initially started investing as a hobby. I started buying and renting and have recently started wholesaling. Last week I talked to a gentleman that wants to sell his portfolio of over 50 homes. On the initial conversation he stated that he's in his 90s and wants to enjoy spending time with his family and therefore wants to sell his properties. He wants around $130k per property at $6.5 mil for the entire portfolio. In the initial conversation I was unable to find out how much each property rents for however I do know that all except for 2 properties are currently rented. The seller is willing to owner finance with 20% to 25% down. I plan on building a relationship with the seller to get more information on the deal such as a list of all the properties, current rent, rent history, status/quality of each home, cap rate etc.

My issue is I don't have anywhere near the 20% to 25% down payment, even if I were to negotiate the price down by $1.5 mil. I have a couple of private investors however their lending ability combined would not meet the down payment requirement.

The question I'm submitting to the forum is, how can I structure creative financing for this deal including the down payment? Any strategies and/or advise is greatly appreciated!

FYI: OPM (Other People's Money)

@Sage White Any updates on this?