E082 What Went Wrong in This Almost-Deal?
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In E082 of the REI Hot Seat podcast, Andrew Hines discusses a near miss on a subject-to deal involving a condo in Miami.

Competing against an all-cash offer, Andrew proposed seller financing terms that included various amortization periods to accommodate the seller's credit card debt.

Despite the seller's initial interest, she opted for the immediate relief of the cash offer.

Hines reflects on the negotiation process, emphasizing the importance of understanding seller objections, maintaining flexibility in financing terms, and the value of training his team to pitch creative financing solutions effectively.

He also shares insights on dealing with distressed sellers and highlights the potential for securing favourable deals through persistent efforts and strategic offers​​​​​​.

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E082 What Went Wrong in This Almost-Deal? 1:22 - Seller's Background and Initial Financing Options 2:52 - Uncovering the True Objections 3:10 - Deal Economics: Cash Flow and Return 4:00 - Challenges in Closing the Deal 6:00 - Creating Win-Win Solutions for Sellers 7:00 - Training the Team on Creative Financing 8:15 - Doubling Investment: Example of a Successful Deal 9:37 - Pitching Seller Financing Solutions 10:32 - Modified Cash Flow Sheet for Analysis 12:05 - Closing Remarks and Future Episodes

Disclaimer: This episode, as with every episode of this show, should NOT be considered as advice. Investment advice is NEVER given on this show. Always consult a competent investment advisor before making an investment decision.

Andrew Hines is a seasoned real estate investor, business-builder, educator, and podcast host, well-recognized for his extensive experience in the field. Andrew graduated with an HBA from the Richard Ivey School of Business in 2008 and spent three years teaching introductory business at Western University as a Lecturer. He has been investing in real estate since 2011 and completing value-add projects since 2015, primarily in the luxury student rental space. Andrew started a project management company for building out new-construction townhomes in 2016 and has since built over 50 residential units throughout Southwestern Ontario. Andrew is an advocate for treating real estate investing like a business and uses his experience in his educational endeavors, coaching numerous investors on strategies to achieve financial independence and scale their portfolios effectively.

His podcast, "The Andrew Hines Real Estate Investing Podcast," serves as a platform for sharing insights, strategies, and success stories, connecting a community of like-minded individuals passionate about real estate investing. With a background that blends practical investing experience and investor-focused work, Andrew has become a pivotal figure in the Canadian real estate investing community.