I'm buying a deal that already failed twice.

I'm buying a deal that already failed twice.

Real Estate Consultant · Houston TX · Member since 2021 · 122 posts · 92 votes

Once when it closed and once when someone tried opening it back up. Here's the plan to actually make it work.
Someone else's vision, someone else's contractor who took the money and vanished, someone else's optimism that skipped every step that would've caught the problem before it became a disaster. That's the property. That's also, more often than people admit, the entire story behind why a "good deal" ends up sitting there half-finished.
I'm not doing anything special to fix this. I'm doing the boring stuff that should've happened the first time, verifying the license before signing anything, checking for liens instead of assuming there aren't any, getting an actual written scope instead of a handshake and a "good feeling", confirming permits instead of trusting a sentence that says they'll be "approved by closing." None of this is clever. It's just the diligence that got skipped the first time around because slowing down felt like losing momentum.
Here's the part that matters most: the original owner isn't walking away with nothing, but he's not walking away fast either. Getting him something back means doing this right, on a timeline that's longer than anyone wants, with none of the shortcuts that got the project here in the first place. That's the trade. Slower and real, instead of fast and hollow.
The deals that fall apart usually aren't failures of opportunity. They're failures of patience, dressed up as good instincts. The fix isn't a better vision. It's doing the unglamorous work, in order, without skipping the parts that don't feel exciting, even when doing it right means everyone involved has to wait longer than they hoped for money that might not have existed otherwise.

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  • Bruce WoodruffPro Member
    Contractor/Investor/Consultant · San Diego / Phoenix · Member since 2021 · 12k+ posts · 15k+ votes
    2mo

    Absolutely! Many deals succeed or fail not because of the deal, but rather who is handling the deal.....

  • Real Estate Consultant · Houston TX · Member since 2021 · 122 posts · 92 votes
    2mo
    Bruce, 100%

    How's that venture we discussed going? Making any progress?
  • Vijay FriedmanBusiness Member
    Miami, FL · Member since 2026 · 766 posts · 123 votes
    2mo
    Quote from @JS Burnett:

    Once when it closed and once when someone tried opening it back up. Here's the plan to actually make it work.
    Someone else's vision, someone else's contractor who took the money and vanished, someone else's optimism that skipped every step that would've caught the problem before it became a disaster. That's the property. That's also, more often than people admit, the entire story behind why a "good deal" ends up sitting there half-finished.
    I'm not doing anything special to fix this. I'm doing the boring stuff that should've happened the first time, verifying the license before signing anything, checking for liens instead of assuming there aren't any, getting an actual written scope instead of a handshake and a "good feeling", confirming permits instead of trusting a sentence that says they'll be "approved by closing." None of this is clever. It's just the diligence that got skipped the first time around because slowing down felt like losing momentum.
    Here's the part that matters most: the original owner isn't walking away with nothing, but he's not walking away fast either. Getting him something back means doing this right, on a timeline that's longer than anyone wants, with none of the shortcuts that got the project here in the first place. That's the trade. Slower and real, instead of fast and hollow.
    The deals that fall apart usually aren't failures of opportunity. They're failures of patience, dressed up as good instincts. The fix isn't a better vision. It's doing the unglamorous work, in order, without skipping the parts that don't feel exciting, even when doing it right means everyone involved has to wait longer than they hoped for money that might not have existed otherwise.

    @JS Burnett
    Great reminder that solid execution usually beats flashy strategies. Taking the time to verify permits, contractor scope, and due diligence upfront can save far more time and money than trying to fix problems later. Looking forward to hearing how this project turns out.

    DreamPoint Capital
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