Low Expectations

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.

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