I bought my first building, a tired fourplex in Columbus, in 2019. I had $11,000 saved from a sales job, so I offered the only way I knew, on the bank’s terms.
The owner said no. When I asked why, he told me he and his wife lived on that rent, and a lump sum would run out. So I asked whether he’d carry most of the price and take a check every month instead. He said yes.
Since then my partners and I have bought 212 units across 11 buildings in Ohio and Indiana, and our students have closed on more than 140 buildings in 23 states.
Around building number six I noticed a pattern.
The deals that worked started the same way. I ran the building on the bank’s math, made a normal offer and listened when the owner said no. The worst one started with terms, on a building I never checked.
I run this workshop because I watch too many people analyze deals for years without making an offer, or open with a seller-financing ask, get turned down and decide apartment buildings are for rich people.
So I’m going to walk you through my real deals, with the numbers and the owner conversations behind each one, and you can decide for yourself whether this is for you.
You’ll see every one of my buildings on the workshop, including the one I’d never buy again.