$90 Gas Station Cleanup

Syed shares a story about how he acquired a gas station property for an incredibly low price due to it being a distressed asset.

"I got lucky with a gas station deal. When it was all said and done, I paid $90 for it. You're probably thinking 'holy crap, how did you do that?' Well, it was a distressed asset because you had to do environmental cleanup on that thing.

The banks needed to get this off their books. I was a cash buyer - I'm not looking to finance anything. I had the right contacts. I was able to buy some of those gas station properties that were already leased out to companies like Circle K, the Canadian multibillion dollar company. All I had to do was just give cash to the bank and take the deed over. Those are distressed assets."