Jinil bought a 48-unit apartment building without putting down any cash by convincing the seller to take equity instead. He structured investor classes, offered 50% bonus equity to larger investors, and closed it all while running a restaurant and caring for a newborn.
What you can do if you allow your mind to really open up and be creative, you can really get any deal done. We had the seller, we asked them to be a prep equity partner. In order for us to get it across the finish line, we got them to agree. We had one investor that was investing 100,000, and then we brought on a second class where if anybody invested a quarter million or more, they would get 50% additional equity. And we got people to commit that way as well. So it was. It was a great learning curve and it was tremendous. What you can do if you allow your mind to really open up and be creative, you can really get any deal done.
Wow. And let me just say this too. You have a very busy schedule. You're not necessarily just using a bunch of your free time here. You have a family, you have a newborn, and you own a couple restaurants.
That's right, I do.
So not too much time on your hands, but you were still able to kind of went through this as far as your ability to. To set this time aside and all those kind of things.
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