We were engaged to appraise small retail strip center. On the date of inspection the buyer (and our client), an ebullient young woman with an entourage of friends and family in tow, chattered about "all the possibilities." We were instructed to discuss the particulars of the property with the seller (a.k.a., not our client) who [...]
In a recent post I talked about my friend Big Artie and his son, Little Artie and their latest real estate venture. Here are some additional lessons we can take from this exchange: The money in real estate is made on the buy. Your basis in a deal will dictate your outcome. Don't ever count [...]
Negotiation via e-mail is a waste of time and bandwidth. Getting everyone in one room takes time and resources, but in the end it is most efficient way to strike a deal.
...the one who talks first loses.
A sage friend of mine in the real estate business said to me recently, "Partnerships never survive the second generation." I just got off the telephone with a client who is in this very circumstance: he is negotiating with the son of his father's partner to fairly distribute a number of disparate real estate assets [...]