Offer Was Rejected! 🙅🏾‍♂️ But We Keep Pushing

Yesterday

and I made an offer on a three family and development opportunity in the Hyde Park neighborhood of Boston, Massachusetts. This was an off market deal that Adrian had sourced. We met with the seller’s agent to walk through the property and decided to make an offer for $1.1 million. The property has a ton of potential but needs work on the interior and exterior including cosmetic updates in the kitchen bathrooms, walls and ceilings throughout. Additionally, the front rear porches needed work and we would have to repaint or re-side the entire exterior. The additional upside was that the lot could be subdivided and developed, but it would require a variance. The play was going to be to renovate the existing three family and rent or sell as condos while we subdivide the lot and applied to build three more units directly next-door. The seller ended up accepting an offer for $1.2 million and I have no regrets. I’m sharing this with you to reinforce the importance of staying true to your model and not chasing deals. As one of my mentors told me early on, “The deal of the century comes around at least every six months as long as you’re looking for it.”

Stay Blessed!

P.S. - 🔥the photo below is of the rear porch at the property where one of the tenants had put a charcoal grill on the porch and nearly set the house on fire. Note to all of the Landlord out there. Don’t let your tenants grill on your back porch.

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