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T1C 11 | The 1% Closer With Jennings Smith Jr.
In this episode, Jennings explains that the biggest risk he ever took was a highly distressed 208-unit property in Oklahoma. The asset was half vacant, most of the remaining tenants weren’t paying rent, and it required a $2.5 million rehab while being located halfway across the country. The deal demanded consistent oversight, weekly calls, and frequent trips to Tulsa to keep the project on track. Jennings and his team bought it for roughly $5 to $5.5 million, were all-in for about $8 million, and ultimately exited for $12.6 million. For Jennings, this deal is the perfect example of big risk producing big reward.
Bullet Points and Highlights:
- Jennings’s biggest risk was a distressed 208-unit property in Oklahoma.
- The property was 50 percent vacant when acquired.
- Many of the remaining tenants were not paying rent.
- The project required a $2.5 million renovation.
- The property was halfway across the country, increasing operational difficulty.
- Jennings and his team bought it for about $5 to $5.5 million.
- They were all-in for roughly $8 million after rehab.
- They exited the deal for $12.6 million.
- The project required two years of consistent focus, weekly calls, and regular trips to Tulsa.
- Jennings views the deal as a clear example of big risk leading to big reward.
Links from the Show and Guest Info and Links:
Seth Bradley’s Links:
https://x.com/sethbradleyesq
https://www.youtube.com/@sethbradleyesq
www.facebook.com/sethbradleyesq
https://www.threads.com/@sethbradleyesq
https://www.instagram.com/sethbradleyesq/
https://www.linkedin.com/in/sethbradleyesq/
https://passiveincomeattorney.com/seth-bradley/
https://www.biggerpockets.com/users/sethbradleyesq
https://medium.com/@sethbradleyesq
https://www.tiktok.com/@sethbradleyesq?lang=en
Jennings Smith Jr.'s Link
https://www.instagram.com/jenningsfostersmithjr/?hl=en&utm
https://x.com/Jenningsfoster
https://www.facebook.com/jennings.smith.50/?utm
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By Seth Bradley | Attorney, Founder, Investor, Speaker
5
141141 ratings
In this episode, Jennings explains that the biggest risk he ever took was a highly distressed 208-unit property in Oklahoma. The asset was half vacant, most of the remaining tenants weren’t paying rent, and it required a $2.5 million rehab while being located halfway across the country. The deal demanded consistent oversight, weekly calls, and frequent trips to Tulsa to keep the project on track. Jennings and his team bought it for roughly $5 to $5.5 million, were all-in for about $8 million, and ultimately exited for $12.6 million. For Jennings, this deal is the perfect example of big risk producing big reward.
Bullet Points and Highlights:
- Jennings’s biggest risk was a distressed 208-unit property in Oklahoma.
- The property was 50 percent vacant when acquired.
- Many of the remaining tenants were not paying rent.
- The project required a $2.5 million renovation.
- The property was halfway across the country, increasing operational difficulty.
- Jennings and his team bought it for about $5 to $5.5 million.
- They were all-in for roughly $8 million after rehab.
- They exited the deal for $12.6 million.
- The project required two years of consistent focus, weekly calls, and regular trips to Tulsa.
- Jennings views the deal as a clear example of big risk leading to big reward.
Links from the Show and Guest Info and Links:
Seth Bradley’s Links:
https://x.com/sethbradleyesq
https://www.youtube.com/@sethbradleyesq
www.facebook.com/sethbradleyesq
https://www.threads.com/@sethbradleyesq
https://www.instagram.com/sethbradleyesq/
https://www.linkedin.com/in/sethbradleyesq/
https://passiveincomeattorney.com/seth-bradley/
https://www.biggerpockets.com/users/sethbradleyesq
https://medium.com/@sethbradleyesq
https://www.tiktok.com/@sethbradleyesq?lang=en
Jennings Smith Jr.'s Link
https://www.instagram.com/jenningsfostersmithjr/?hl=en&utm
https://x.com/Jenningsfoster
https://www.facebook.com/jennings.smith.50/?utm