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Ep 581: The Art of Transparency in Real Estate Land
Manage episode 445167117 series 3413169
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In this conversation, the speakers discuss a recent real estate deal involving the purchase of a 15.5-acre tract in San Antonio, Texas. They initially secured the land for $5 million and managed to negotiate a $5.9 million sale with Lowe's Home Improvement. The speakers describe the challenges in closing the deal, including negotiations with Lowe’s and the seller. They emphasize the importance of transparency, collaboration, and learning through experimentation, while highlighting the value of building a broad network to access more opportunities.
Introduction to the San Antonio Deal (0:00 - 1:00)
The speakers introduce the 15.5-acre land deal in San Antonio and mention their successful negotiations with Lowe's.
Negotiation Challenges and Resolution (1:01 - 2:10)
A detailed discussion of the price negotiations, including Lowe's attempts to lower the price and the seller’s refusal to budge.
Lessons Learned from Commercial Deals (2:11 - 4:00)
Reflecting on the time and effort it takes to close commercial deals, and why they might avoid similar deals in the future.
Expanding the Buy Box Nationwide (6:39 - 7:30)
The team shares their new strategy of looking for deals across the U.S., highlighting recent opportunities in Florida.
The Importance of Networking and Transparency (11:00 - 15:00)
They explain how transparency in negotiations helped them secure the deal with Lowe's and the value of networking for consistent deal flow.
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