In March 2017 we acquired this 12 unit property. The lead was generated through our Property Manager (Relationships Matter!). We’d met with several PM’s in November 2016 and had identified this one as a person that we wanted to work with. At that time we were also looking for agents / brokers and since ended up using him for submitting offers. After submitting a couple of offers. One was rejected as too low, the other property we got under contract but during due diligence we discovered some things on the inspection that the owner wasn’t willing to fix, so we terminated the contract.
After that experience, we talked with our PM and asked if he would keep us in mind if anything else came up. Within 30 days, he contacted us about this 12 unit. His wife knew the owners and they’d been talking about selling it so they could do other projects.