Multi-House Package Deals

Multi-House Package Deals

I've been running into a few "package deals" where a seller is offering multiple houses in a single deal. I looked into a few properties associated with one of the deals and found some were in poor neighborhoods; most were boarded up in poor condition. I tried to look up a few of the properties on but they didn't show any information. I'm wondering if this might be a scam of some sort (I am a bit cautious about it) like maybe they're on a demolition list or something. Not to mention the seller wants a good deal more than I would ever pay $15-20K on average.

My gut says to stay away from these, but a follow investor says the rehabs are where he makes his money. I might just put in an offer and if I get it, assign it to the other investor and make sure a conditon of the sale included the buyer be responsible for the due diligence and include a NCND to protect my seller source. Of course my offer would also include an exit clause contingent upon DD and include and NCND to protect my buyer source.

Has anyone ever been through one of these package deals and how did it work out?


I haven't done any package

I haven't done any package deals myself, but I know there is someone on the videos page who bought like 5 houses in the same new subdivision because the builder was losing them. THey got a great deal and have since rented all of them out.

It sounds like the ones you're considering are in a "bad" neigborhood. I was just reading a post on good neighborshoods vs bad, and the consensus was to do your homework with the police dept to check out crime statistics - you may find it's not as bad as it looks, maybe just run down.

Rehabs can definately be little money-makers, but you can find rehabs in any area - nice or less-than-nice.

So, check your crime stats, know all your costs on the rehab - go through the places with a fine tooth comb and write down EVERYTHING that needs fixing (then price all of that and include labor costs), and when you make your offer, subtract all the rehab costs, loan costs, holding fees, your profit, an extra amount for unforeseen costs, etc. THEN you'll come up with a good offer price. Remember, you DO NOT need to pay them what they're asking - they expect you to offer less!

Good luck! Keep us posted!


Thanks for your reply

Thanks for your reply Tracey. I was thinking of passing the due diligence on the properties to the assignee with a straight flip of the properties and a cool 3% mark-up. Or do you think that's too risky. I can check the crime rates, but would rather let the buyer do it and take the risk.

Some of these properties look as though they're condemed or listed for destruction. Do you know the best way to check if they're on a demolition list for the city. I know in the Detroit area they're demoing houses left and right. I don't know about Indianapolis. I was thinking of offering a few hundred bucks (no more than 10% of asking price) each if I'm assuming (and passing on) the risk. I've emailed a few contractors and one investor in the area and I've recieved a couple of replies asking for the addresses. What's your feeling about sending the addresses without something in writing? I got them from another investor as a list of "REOs." Again I'm pretty green at this.


I am in the same boat. There are so many rehabs available here. The prices are as low as $14k. I have been researching the different neighborhoods and I think I've found a few other neighborhoods that are safer. More owner occupied. The deals are more but still only $35k - 90k. All rehabs. Many have the copper, heating systems gone.

I like the idea of buying then getting it locked up with lease/owner and getting rid of it. Giving someone else a great deal while making 10-15k.

Research the neighborhoods. I've found by moving over a few streets the crime and rentals do change quite a bit.

Risk=Big MoneyFinancing to rehab, Little or no Short-term Return

I think my strategy on these is to find a local buyer and assign them along with the due diligence responsibility and take a small profit. Big mony could be made with rehabs but the risk is you'd have to have big money backing the program with no return for possibly months. I'm not there yet.

Syndicate content