Would these be considered "motivated" sellers?

Motivated or not, let the numbers speak for themself. Are the properties good deals? I mean can you wholesale them with no problem while giving your end buyer a great deal and still make a decent spread? Thats assuming youre trying to wholesale. I dont know your exit plan.

they are all great deals- livable homes for under 10k!!!..., I plan to buy one for myself to hold and try to wholesale the rest of them. Im sure he got them WAY CHEAPER if he purchased in a bulk. I just don't want to submit too low of an offer and ruin my rapport with them because they have about 14 other homes i want as well

Id make a few phone calls to my buyers list after I get one under contract. Regardless of what the company paid for them my concern would be could I wholesale it to an end buyer on my buyers list. Assuming you have a buyers list and if it fits the criteria of one of your buyers. Also, make sure you can assign the contract. I know some Bulk Reo Acqusition Companies wont allow that. However they will give you a referall fee depending on the deal of at least $300. ( BIG Money lol)

Also, it helps to know your end buyers exit plan. Are they going to use them for rentals or a complete rehab to flip? The difference between the two is rehabs for a flip are more signifigant in price. Knowing what the construction cost will be depending on their exit plan helps you arrive at the best offer you can write.

As far as submitting to low, I generally give the best offer I can make 1st. I usually let that be my finial highest and best offer. As long as my numbers work out so I can make my assignment fee and give the end user a discount I generally dont try to low ball in this market. I am not the only investor out here. On the same note you cant over pay either.

Just going to give you a very simple (maybe over-simplified) answer:

Bennie is absolutely right. You CREATE the deals in your offers, you don't just find good deals. Make super low offers that will allow you to wholesale for a profit and see if they get accepted or at least counter back. What do you have to lose?

There are also very creative ways to wholesale package deals but you need to make sure you have ALL the buyers in line BEFORE you have a package deal under contract.

For example:

- Lock up a package deal of 3 properties for 100k total
- Write up in the purchase agreement that two of the three properties will be purchased for 45k and the third will be purchased for 10k
- The seller will usually only do this if you close on all three properties at the same time. It is in the sellers best interest so you don't just walk away with the cheaper deal.
- Wholesale the two expensive deals for 50k (5k profit each)
- Purchase the cheaper deal for 10k cash and turn it into a rental (essentially free because you made 10k on assignment fees anyways)
- Rehab, rent out, and refinance your rental to make even more profit from the remaining equity

WARNING: If you don't have buyers lined up for the wholesale deals which prevents you from closing on one or more properties in the package, then ZERO of the properties in the package will go to close and you potentially will have to refund any assignment fees already paid to you. So in my opinion, make sure you have a VERY STRONG buyers list before you pursue this specific strategy.

Thomas - let us know how this goes. Sounds like you are planning on submitting an offer. Curious what the LLC company will come back with, if they'll negotiate on price...sell only as a package, etc.

Good luck!

- Tom

If you are looking at multiple homes that are publicly listed for $10k each then I immediately wonder where are all the buyers. Generally speaking these properties are only on the market for a few days (if that) since investors are snapping them up. You could potentially be looking at a price war here. If you are seriously interested in these, I would make the best offer you can and hope they accept it before a better (aka higher) offer comes along.

learn how to approach banks loss mitigation dept and buy bulk.

As Bennie said, 'the numbers speak'.

As Dominic said, 'deals are MADE, not found'.

As 'Simon says', wheres the competetion?, these will probably not last long.

Try to MAKE a deal with the 'bulk buyers' on a smaller bulk sale.

My philosophy is that everybody is a motivated seller when the time is right. Best of luck!

I don't think anyone here can tell you if they're motivated sellers or not; we don't know anything about this seller, nor about the properties, except they have 14 for sale and they were purchased in bulk; we don't know what the ARVs are, cost of repairs? ... you need to talk to seller and find out why they are selling; do they have more properties? are they planning on buying more properties? If you have a strong buyers list, you may be able to work out something with this seller?!

Remember to fall in love with the numbers, not the houses

Keep us posted!