Jonathan CroninREI Accelerator, Rei Accelerator · Multifamily Real Estate Investor & Coaching Leader

From “Pass” to Profit: How We Closed Our First 34-Unit Deal

14 Aug 2025

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Speaker (Jonathan Cronin) recounts how REI education enabled him and a partner to find and negotiate the purchase of a 34-unit, Class C apartment in Columbia, South Carolina. Despite initial reservations, they negotiated a purchase at about $1.3 million, arriving at roughly $37,000–$38,000 per door after negotiation.

Questions this video answers

34 units.

Columbia, South Carolina.

Approximately $1.3 million.

About $37,000–$38,000 per door (stated as "like 37 or 38,000 a door").

First of all, it was all because of REI's structure and education that I was able to even make this happen. After the course of a couple months dealing with some brokers and some negotiation, we did come across a 34 unit in Columbia, South Carolina. And quite honestly I would have passed on because it was just a Class C property and I was new and so I would have passed on the deal, but my partner said, no, we really got something here. And so after significant negotiation, we were able to arrive at a very great price for this property, and we came in at like 37 or 38,000 a door. The purchase price was at 1.3.