When I purchased the office next to mine for future growth and expansion, I briefly considered buying Suite 113 which is directly behind the site I had just purchased.
Since it was bank owed and had been on the market for over two years, I believed that I could get it for a steal. Especially since I had just purchased 104 for less than half of what I paid for 105.
Then my son entered the picture. Now Samuel has worked for me the longest. He is the middle child but is the most like me. Being so similar quite frankly should make it more difficult to get along with one another, but it seems to push us both to strive harder to get along.
When I was discussing the possibility with him he started to question me:
“DO you really believe the bank will give you the property at your price?”
“Is that a realistic possibility of a fantasy?”
“Do you have a need for the space?”
“Will this be the best use of the money in the short term?”
“When will the property start to pay for itself?”
“Would you recommend this strategy to one of your clients?”
“What if the property taxes keep going up and not down as your predict?”
Obviously he is spending too much time listening to me talk to clients…
So basically having had a real discussion with myself from a client’s perspective, I dropped the issue of buying the property.
The property then sold within the next two months, not for as low as I would have been trying to get it for, so I probably would not have purchased the property. But is was slightly lower that what I bought 104 for so it still worked in my favor. I send the purchase info to my attorney for fighting my property taxes down even more!
But, it was still a win.