I am needing some advice on how to proceed in a current
situation. I have a property owner in Tulsa, Oklahoma who owns 95 properties. I also have a person who is looking to buy some properties.
This has been our correspondence so far:
Seller:
I asked him if he was the actual owner of a certain property
and then:
Him: Yes, I’m the
owner and I have others for sale.
Me: Are you looking to sell or wholesale.
Him: I do wholesale some but I mostly have my own for sale.
I’ll sell you a couple of mine if your interested or will help you find some. I
have 95 houses spread across north, west, and east Tulsa.
Me: It's excellent that you have such a large portfolio. Are
most of the 95 for sale? I am working on nailing down some criteria on what I'd be interested in. Do you happen to have several of them listed somewhere that you can direct me to? Or are they listed in a lot of different places.
Him: Most of them are not listed anywhere. I have them
rented, vacant, or needing overhaul. Your pick.
Half of my houses are owned with a partner and he is
needing the cash for his other business. So we would look at selling just
enough to cover his need.
My favorite is north side cause they're cheaper and yet
section 8 rent is still high. If you don't currently own any rentals than I
would recommend buying the first one or two rented then the next one needing
remodeled. Or my crews can remodel and stick in a renter before you buy.
Whatever works for you.
Buyer:
The buyer has a company that buys and sells. He says he
is looking to buy and flip or less likely to wholesale. He wants houses
anywhere south of apache. They need to be larger than one bedroom and not manufactured or mobile.
So what should my strategy be at this point?
