What’s the goal for today with my meeting with the primary seller? It’s simple, get a commitment to sell and a commitment to give me information. That’s it. Because of my last email, he will want to get to a price quickly to see if there is a deal there. That’s going to be easy for me to resist. I’m not pulling a purchase price out of my ass, at least not for him. The simple fact is there are more parts I have to price to make this deal make sense. Just a quick view from the inside out, how I need to determine price:
- Purchase price of the real estate
- Plus, price to pay the operators
- Plus, repair will cost
- Equals Total purchase price
This dude only directly controls one of these components. I can’t negotiate with him without knowing the other components. I have to get the repairs and rebuild estimates asap. I will have to be careful in putting these costs together so I don’t show my hand to competitors and the market.
Let’s see how it goes today at 2p.