Genesis of a great deal

Today, we’re closing on a 4plex that warrants some special attention.

It’s in a good neighborhood, it’s ~4700 sq ft, and we’re buying it for $810k, or $172 / sq ft.

That’s a great deal in a neighborhood where the cheapest comp I can find in the last six months sold for $300 / sq.

How did we get such a good deal? Hustle.

My assistant was handling some minor housekeeping items at a property we bought in the neighborhood. He randomly struck up a conversation with a guy who turned out to own the property next door.

The guy wanted to sell quickly and move back to the Philippenes.

We went back and forth a bit on price and then made a deal, with no brokers, for cash, with a quick closing.

All because my assistant is a personable guy with a bit of hustle.