My best deal was my most recent one. I was fortunate enough to have a client that owned a number of properties to bounce ideas off of when I started. One thing that I always remember he told me was... "Your 2nd deal will be better than your 1st. You 3rd will be better than the 2nd and so on".
Anyway, I had stayed in touch with an owner who owned a multi next door to mine. After over 3 years of periodically touching base, I got the phone call "Are you still interested?" My response was of course, "That depends"...on the price.
In the end, we were able to construct a deal that was mutually beneficial where he walked away happy and we got a property generating a 29.17% COC return and a 12.41 cap right next door to one of our other holdings.
This was a great success for us as it was a testament to the importance of following up and that persistence pays off.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you