Alareia Master Class

Jeff Stephens, creator of the Thoughtful Real Estate Entrepreneur and Sleaze-Free Real Estate Investing Podcast, returns to the show today to talk about a deal he closed earlier this year. In this episode, he talks about how he acquired a building that was two separate properties, negotiated two different deals with two different creative financing strategies, and what he’s done with the property now that he is the sole owner.   Key Takeaways:   [2:00] This deal was about an 18-month deal once all was said and done. It was originally a bank, and due to a lot line, it had been split 60-40 since a few years after it was built. He sent mailings out to a niche list of owners of buildings that weren’t structurally sound for earthquakes (unreinforced masonry), including this one. [5:20] The first contract for the smaller side of the building fell through, but when the chance arose a second time he put down $15,000 non-refundable, and also pursued the bigger side. After about 12 months of follow-up, he had both side