Multi-property Purchase

I have made contact with a seller that wants to sell all 7 of his properties. I would like to purchase at one time, in one package. Any advice on how to structure the deal?

Comments(2)

  • AaronSanDiego21st February, 2006

    You are looking for blanket loan..they are almost extinct but there are few banks still doing them. Saves a bundle on closing costs but can create difficulties if you want to sell just one property. [ Edited by commercialking on Date 02/21/2006 ]

  • ashwin21st February, 2006

    I think for helping your friend getting to talk to a mortgage broker and helping negotiate the price, you are getting a great deal. aTH worth 78 for 60+5=65 is 16% off the market price. Considering 6% for RE commision and 3% for closing cost payment you are still ahead with 7% built in equity. To build that equity in some area it takes 2 years.
    Moving in while fixing will help you insome cost and a leisurly repair as needed.
    You want to make sure about REO repairs are feasible for both of you from cash flow point. good luck

Add Comment

Login To Comment