How to Purchase Multiple Properties

[IRA WILLIAMS]

When purchasing multiple properties, what real estate strategy
would be recommended? This would be for investment purpose.
example: a 5 House Package for 8 thousand an all cash deal.

[Matt Gerchow]

Ira,

For clarification. This is 5 houses for $8,000 total, or 5 houses for $8,000 each?

Matt

[John Schroeder's RealProspect Software]

IRA.... if you can find a package of 5 houses for $8k... BUY IT! Thats my recommended strategy.

[IRA WILLIAMS]

This would be a "wholesale/ assignment " deal which means the person I would be dealing with is an investor. I'm sure there
must be a strategic approach to take when speaking to another
investor. How wold you handle such a situation?
I need to do my due diligence, and I will definitely need a "private lender" in order to secure funding for this potential deal.
Any recommendations for private lenders?
How do I structure my "exit strategy" as I prepare to put the property under contract?

[Matt Gerchow]

Ira,

Some great questions.

Go to the forum post, "Assigning to Another Investor". This will detail some of the steps for you.

If you are assigning the property, then a private lender is not necessary. You receive an assignment fee either before or at the closing of the property. The investor you assign it to will be the one bringing the money to the table.

When assigning to another investor, try and get as much money up front as possible. Use the "Escrow Agreement" doc in the New Rich bonuses files.

Use the contracts we include, the assignment of contract and the escrow agreement and you should be all set. There are protection clauses all throughout each. I recommend familiarizing yourself with all three.

You want to start building your buyers list as soon as possible. There is a section in the book regarding this.

Please feel free to post any additional questions.

Matt Gerchow

[Mary Burton]

Hmm, just a thought on the topic: Package deals were packaged because they are better that way. What I'm trying to say is that we should also check the properties individually. Can they be sold individually? Multiple property selling is more than a marketing strategy anyway.

[Kim Chen]

This tip will be useful Matt. Thanks a lot. It just hit me, maybe we can have links on related topics per thread, much like a related post plugin in wordpress blogs? Sorry I didn't find a section for forum suggestions and feedback.

Matt Gerchow said:

Ira,

Some great questions.

Go to the forum post, "Assigning to Another Investor". This will detail some of the steps for you.

If you are assigning the property, then a private lender is not necessary. You receive an assignment fee either before or at the closing of the property. The investor you assign it to will be the one bringing the money to the table.

When assigning to another investor, try and get as much money up front as possible. Use the "Escrow Agreement" doc in the New Rich bonuses files.

Use the contracts we include, the assignment of contract and the escrow agreement and you should be all set. There are protection clauses all throughout each. I recommend familiarizing yourself with all three.

You want to start building your buyers list as soon as possible. There is a section in the book regarding this.

Please feel free to post any additional questions.

Matt Gerchow

[Tamlyn Brooke]

Hi Mary, I thought real estate agents love wholesaling? I checked your other posts and now I am dead confuse.

Mary Burton said:

Hmm, just a thought on the topic: Package deals were packaged because they are better that way. What I'm trying to say is that we should also check the properties individually. Can they be sold individually? Multiple property selling is more than a marketing strategy anyway.

[Camille Brown]

I think she just meant that if real estate agents will buy properties, this what they should look into. We buy properties to sell it, not to hoard it right?


Tamlyn Brooke said:

Hi Mary, I thought real estate agents love wholesaling? I checked your other posts and now I am dead confuse.

Mary Burton said:

Hmm, just a thought on the topic: Package deals were packaged because they are better that way. What I'm trying to say is that we should also check the properties individually. Can they be sold individually? Multiple property selling is more than a marketing strategy anyway.

[Mary Burton]

You got that one right Camille :)

Camille Brown said:

I think she just meant that if real estate agents will buy properties, this what they should look into. We buy properties to sell it, not to hoard it right?


Tamlyn Brooke said:

Hi Mary, I thought real estate agents love wholesaling? I checked your other posts and now I am dead confuse.

Mary Burton said:

Hmm, just a thought on the topic: Package deals were packaged because they are better that way. What I'm trying to say is that we should also check the properties individually. Can they be sold individually? Multiple property selling is more than a marketing strategy anyway.