The one that got away

[Jennifer Lee]

hi BP

Miss opporunities... that's part of the business.

do you have any good ones to share?

I was just doing my usual due diligence, market research
there was this one MONSTER of a commercial multi-unit that was beyond our price range (6 tenant offices rental).

but we thought it was way over priced. we thought it was worth 600k (old bldg), listed 980k
net gross income was 80k/yr, it already has 80%-90% occupancy

we were thinking an offer of 700k

but we thought that was too low an offer, and financing could happen if we tried hard enough.

we ended up buying a few building down at a more affordable 150k.

today I remembered the building.... chked in on loopnet. and it was still there!!!!

i couldn't remember how much the original owner bought it for so checked the county site.

SOLD a few wks ago @ 650K!!!

we were to SHY to offer 700k!!!

oh well, at least we know our mkt...just need more guts ;p