And that's why we never buy properties that are at the top of the market like when we look at the comms

It should be below that

Got it

Did they want 71 million when you just bought for 71 million? They want it 73

They want it 73. Yes. Yes, so

Saved off about a million and that you bought it for 71 what 71 point even 71 even. Yeah, please shave off two million. Oh

It's better than that. So we actually

Got it another three million dollar discount from the seller. So the final price is actually 68 million dollars. How did you do that?

Through fierce negotiation so

July of June of 2022 was a was a chaotic time into the financial world inflation was

Going crazy the feds were raising the fund rate which impacted interest rate

The capital market was very chaotic. We went back to the seller and said hey

We want to buy your property. We love it. We already raised the money

But we can't buy at this price anymore. The lender will not lend us the same

The proceeds dropped right so we told them we told them that we need a 10 million dollar discount

We didn't expect it but we told them we wanted a 10 million dollar discount

Knowing that they're gonna be like no, we're gonna come they're gonna come around three million

We figured we wanted we would be we would be we wouldn't happy with two

Now they can know but the seller but the seller came back and say we'll give you three so we're like perfect

Okay, so we already shaved off two million from the buy right but where did we get this other three million from I don't understand it we

Negotiated we just asked them for a discount

So you didn't buy it for 71 you want it for 68

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