By being there in person, and forcing the issue today, we were able to walk away from what appeared to be a solid investment opportunity. It still could be if only we’d hear the same story twice in a row from the developer’s mouthpiece. That’s how it is sometimes. Some think they can fool us, but we pay attention.
It’s not that we couldn’t find the pea — we just won’t play. Hide the pea isn’t on our menu.
It was my local guy though who saw through what appears to be some, ah, misinformation put out by the developer’s rep. Details have to be withheld, but suffice to say we were collectively chagrined to learn we’d essentially wasted the last 7-10 days. i say we, which is kinda sorta misleading. Mr. Single Pointe (Benn Rosales — he of agentgenious.com fame.) had documented, hard copy, everything put out by said developer’s spokeswoman. 2 + 2 consistently kept consistently coming up 5.46.
It’s really too bad. There was some pretty solid potential for all concerned, most importantly my clients. This is the way of searching for the next deal. 9 outa 10 fizzle before you hear the fat lady sing. Stellar transactions don’t grow on trees, contrary to what many may believe.
Bottom line — unless we get credible info and a fresh start, we’re walking away.
This is a good thing, though not as cool as successfully concluding our negotiations with them would have been. Our reaction to this turn of events? We retired for the day and ate BBQ at The County Line. We already know where my clients will land. Also, we now know what project is pinging our radar in Texas. No, can’t say where, as remaining under that radar is and remains our best strategy.
Saturday morning finds me giving an investor seminar to a group gathered by Benn and Lani, and Benn’s brother, Michael. Can’t wait. The best part is always, without exception, the question and answer session after I take a breath and stop talking.
Sunday I’m off for Dallas and the conclusion of an agreement to take the remaining inventory of a local builder. His product is high quality, and he, like I am, is old school through and through. What often takes several meetings, conference calls, and two or three false starts, will take this builder and I about 20-30 minutes to get done.
That’s what happens when you’re not playing hide the pea. Old School is where things get done.