6 Billion dollar hedge fund being created from properties bought and held for rent.
The fund is currently buying under several names but will likely end up using the name:
CERBERUS SFR HOLDINGS LLC
Fund has retained Venture REI to assist in acquiring 3,500 homes in the phoenix metro area in 2018.
- SFR only
- 3 Bedroom Min
- 1.75 Bathroom Min
- 1000 sq. ft. Min
- $300k Max purchase "all-in, including reno budget"
- $1,000 min monthly rent
- maximum rehab of 25% of purchase price
- No age restricted communities
- Cannot be adjacent to industrial property, strip clubs, barb wire, or war zones.
Sample Deal I found from Phoenix Wealth Builders
315 W Lawrence Blvd - Avondale, AZ 85323-1860
- Phoenix Wealth Builders bought for $116,000 from Real Property Acquisitions Llc who bought for $92,000 from another wholesaler.
- PWB Sold next day to REI at $130,800.
- Difference between original wholesaler and PWB to REI $38,800.00
We will divide anything we submit through PWB in half. Benefit is that PWB will purchase outright and payout the homeowner and then we can do a secondary close with money disbursed directly to our team from title.
We need to find off market deals, that is where the most money can be made.
1. HPC leads estimated value under $300k
2. HPC Lead boost Leads under$300k
Call with new script:
"Good morning, we represent an investor that has retained our team to assist in the purchase of 10 homes a month this year. I noticed you have your property up for rent, have you considered selling this year?"
If so, I can get an offer and come walk through the house ________________ to present our offer for your property. It takes about 20-30 min total. No pressure, no obligation to accept an offer.
- You Choose the Closing Date
- We will pay all closing costs
- We will still buy the house if there is a lease in place with a tenant.
- We will give you a net offer that you will take home from title at closing (not a tricky purchase price and then subtract all the repairs, closing costs, etc after you feel like it's too late to to cancel.
- We will give you a 24 hour cancelation period after you sign as well.
- If you need it, we can help you find a new home to buy or rent as well.
A few things that make this Buyer different.
- Buying the properties to hold them as rental investments with a large fund.
- Unlike Open-Door, Offer Pad and other small time "I'll buy your house for cash" investors, the investor we represent is not flipping the property to place it back on the market, so our offer is typically higher than those other buyers in the market.
- Just need a few details about the house...Repairs you think it needs?
- How much do you need to make cash walking away int he next 20-30 days?
- There will be an inspection, but we are only looking for major problems with the roof and foundation, everything else is fine.
- Closing costs will be paid for by the Buyer in Full
3. Other Wholesalers - Get on all the lists and ask to be sent whatever they have and then submit the details to the portal for an offer.
5. Circle Prospecting around properties they have already acquired
7. Expired or Canceled listings
8. Rental properties that are for rent right now.
9. Facebook and Facebook Groups:
Good Evening! I haven't posted in a while since moving out of the neighborhood and didn't discuss my business much while being in Copper Ranch (with the exception of the community events we sponsored at the soccer field). Anyway, our realty team was recently retained by an large investor and they have charged us with assisting them in purchasing 10 houses a month. This is a big charge they've given us and will be difficult to meet.
That being said, this investor is not seeking to do fix and flips. It is seeking to purchase and hold the properties. The reason this matters is because the investor is only seeking a 4.7% rate of return unlike Open Door and Offer Pad and all the other buy your home for cash small investors. Meaning the investor can pay more for the houses.
So, if you've even considered upsizing from Copper Ranch to another community like our family did about a year ago and you're worried about your offer being contingent on your house selling or paying realtor fees, please message me and give me a chance to get an offer for you. No obligation or pressure. For those of you who know me, you know that is true.
You pick the closing date, the offer will be all cash, and the investor builds repairs into the offer so you don't need to worry about a huge renegotiation after an inspection.
Thanks a ton for reading.
10. Bandit Signs
11. ExpertHUB leads
We can submit the properties to get an offer we can take to the home owner at this link:
I would like to set a goal of selling 10 houses to them a month.
That will likely mean we need to submit 50-60 houses a month through the portal for consideration.
Use the below Email for all properties submitted and PressPlay as the company so they can track the offers to our team.
Email and UserName: Investor@pressplayrealty.com