that is definatly realistic. Sometimes it takes a while for a deal to close so the first month you may make nothing and you will have to get that consistant flow of deals going through. It will take a lot of work but can be done.
I would say you steer clear of bankruptcy also. I am not sure what you mean by claim bankruptcy and collect the rents for a few months, but most lenders and courts will see the rentals as assets and sell them for the proceeds to be divided up.
I would identify the 4 properties with the most equity and put them on the market for sale. You may also want to think creatively, like bundling a higher equity property with a problem property and give them a deal to take them both.
Not knowing your situation I can talk specifically, but I would have guessed you already had some of these on the market.
If they are single family homes, advertise rent-to-own, or a low money down option and carry the note.
that is definatly realistic. Sometimes it takes a while for a deal to close so the first month you may make nothing and you will have to get that consistant flow of deals going through. It will take a lot of work but can be done.
Thank you for your reply! I know there will be alot of work involved!
5 Vacancies out of 22 is not that bad. We had 5 vacant out of 13 over this past couple years.
I would say you steer clear of bankruptcy also. I am not sure what you mean by claim bankruptcy and collect the rents for a few months, but most lenders and courts will see the rentals as assets and sell them for the proceeds to be divided up.
I would identify the 4 properties with the most equity and put them on the market for sale. You may also want to think creatively, like bundling a higher equity property with a problem property and give them a deal to take them both.
Not knowing your situation I can talk specifically, but I would have guessed you already had some of these on the market.
If they are single family homes, advertise rent-to-own, or a low money down option and carry the note.
Good Luck.
Sell a couple CFD use the down payments to pay the backs.