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 Homegain.com 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?