Just Closed 33 Units ... $0 Down!

[Curtis Bidwell]

Hey BP friends, had to share the event! This deal was 24 years in the making - growing in intensity this past 2 months! My partner wanted to retire from the business and so I offered to buy out his shares of the LLC this past summer. We've been working the details, finally getting the terms to everyone's satisfaction at 4:30 pm Friday afternoon. We got the paperwork from the attorney and went to the notary and inked the deal at 6:00pm! And then celebrated together over dinner with our wives!

I have a net gain of 33 units and total control of the LLC. $0 down. 5% interest. Escalating payments begin in January at just $2k/mo the first year, escalating year by year to $4k in year 6. Pay off in 14 years, 6 months.

Merry Christmas!

[Jay Hinrichs]

@Curtis Bidwell 

funny I just did the opposite last year I sold my interest to my partner we had just about 350 SFR's and like you I could not be happier... !!!! I took all my retained earnings over the last 5 years as a liquidity event, he came up with basically nothing out of pocket.. and became the sole owner of the LLC... He bought a job I bought freedom LOL I guess two divergent views of things... !!

Good job on your deal... and good job making it 24 years in a partnership that in itself is pretty amazing. !!