Self Storage- Deal 17 Land purchase, Long shot

[Henry Clark]

We are retired but still can't pass up a potential good opportunity.  There is a market I want to expand into but need to find a piece of land.  Making an offer of $250k with 3-day offer, subject to zoning and driveway access.  This property was just purchased a 1 1/2 years ago for $7xx, xxx.  

Will the company accept at $250k, counteroffer or just flat not respond?  Don't know, but you always make an offer at your price point once you have done a deal analysis.

Normally, I don't care about the seller, since you don't know their background.  You just make an offer.  In this situation, I actually know the company to a degree, and I know they have come under 3 very strong stress factors in the last year.  They should be needing a cash infusion and should be backing off building on this property.  Is that correct or not?  Who cares.  Just make the offer.

Major take away for most investors, especially new ones.  Once you have done a Deal Analysis and you like the deal.  Always make an offer at your Price point.  Be prepared to walk away and move on to the next property.  It's not about doing a deal and "Winning".  It's about doing your Deal Analysis and staying within its framework.

We have done several deals with large disparities between Asking and Purchase price.  This one is more extreme, because I know the company to a degree and know they are under stress.