Private Sale and Increasing Cash Flow

[Lou C.]

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.