The One That Got Away

[Drago Stanimirovic]

Every investor has it... The one they talked themselves out of.

A while back I was working with an investor who had done almost everything right. The numbers worked. The financing was lined up. Due diligence was done.

But every time one question got answered, another one took its place: "What if prices soften?" "What if rents come down?" "What if something better comes along next month?"

Now, none of those questions were unreasonable. The problem was that there was never going to be a moment when every uncertainty disappeared.

Eventually, someone else bought the property. A few months later, the investor called me again. He wasn't upset about losing that property anymore. He was frustrated that he'd spent so much time waiting for certainty that never existed.

Those things stuck with you. There's a big difference between being careful and waiting for perfect.

One usually protects you. The other can quietly keep you on the sidelines.

(What's the best deal you never bought, and why didn't you pull the trigger?)