Christian OsgoodCEO, Multifamily Strategy · CEO at Multifamily Strategy

Alex’s Unique First Deal Pitch

17 Aug 2024 · 1 min

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0:39

Speaker B pitched his first real estate deal on a $600,000 property with a $25,000 down payment he didn't have. He admitted inexperience to the seller, got help from mentors to underwrite it, and went through twenty contract revisions before closing.

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Hello, I cannot afford to buy this deal. Will you sell it to me? Interesting pitch.
Yes. I had told them that I had never done this, then that I had no money, which probably was not a good idea. They were listing it for $600,000 and they wanted $25,000 down. And I had never raised money. So just the fact to raise $25,000 was kind of scary to me. I told them that I had some mentors that were telling me how to do it throughout the journey. I told them, look, if we put it on the contract, we'll have to raise this amount of money. Just over the phone, he was already excited to do it. I was like, sign me in. I just underwrote it, sent the LOI, and from there we went back and forth maybe 20 times to actually get it on the contract.