Need help with a free and clear whole sale

As fortune would have it I have exclusive knowledge on a 3 house deal but need some advice on how to make it super smooth.

Here is the low down

She will part with all 3 for 45K cash!

The Houses: worth about 50K each.

2bed room rented at $475.
3bed two family flat 1 unit rented at $475
4bed room rented at $500

What I want to do: Put all 3 under contract and sell all 3 at close to FMV and payoff owner.

Am I wrong for trying to sell for FMV and asking the seller to lower price? How do I sell the contract?

Please let me know what you think thank you.

Hey rontayan,

Looks good on paper. Do you already have a buyer lined up? This, however, is not a deal I would wholesale. The profit margin is too big. I would round up the $45k and buy it myself. Hard for me to say without a little more info., but I’d most likely flip this one. If I had a buyer interested prior to closing I’d do a simultaneous close. With this much margin I’d probably let it go for a little less than market value. If I was to flip, I wouldn’t put a dime in it over my initial investment.

See what I mean?

I do understand.

As for a Buyer I have 1 for the two families flat.
He is going to pay cash and if I can talk to seller down I could sell the flat pay her, for all three and flip the other 2.

Do I want to put them all under contract at the same time? Then flip or is there a better way?

Please let me know, thank you.

Yes, I would buy them all at once. They are all cash flowing properties. Sell one and the other two are pure profit. I also like the idea of selling all to one buyer. It’s an attractive group together.


what neighborhood in detroit are the properties? and i thought you couldn’t sell anything in detroit at FMV? if the rents are so low i would guess they are dumps which is why the seller is dumping to you. look for buyers who like warzones as i have a mind to believe that that is where the property is located.