He Lost the $5M Deal. One Phone Call Won It Back
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He Lost the $5M Deal. One Phone Call Won It Back
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A firefighter with a 500 credit score bought a $25,000 house on hard money. A decade later, a seller offered to finance 90% of a $5 million building. He lost the deal, then won it back with one phone call. In this episode:
– The three questions from the firehouse bunk that started everything
– 500 credit score, $15K saved, and the $25K house that cash-flowed a week's paycheck
– The say-yes years: how one meetup and one follow-up built 100 rentals
– Why putting commercial real estate on a pedestal was his biggest mistake
– The full $5M deal: losing it, the phone call, the lawyer's office at 1pm
– The $6.8M refinance, and the seller who came back with $2.5M to invest with him
– The 10-years-of-cash-flow rule for knowing when to sell
The one thing he'd change: he'd go commercial sooner.
Making less than $120K a year in cash flow real estate? Come build with us inside the Zero to 100 Elite community. https://www.zeroto100tribe.com/joinelite
Our guest: Ian Horowitz of Equity Warehouse, host of the Real Estate Reserve podcast