In late 2016, we bought a 10,135 square foot retail building in Deer Park, Washington.
At that point, it was the largest and most expensive building I’d been a part of acquiring. Quite frankly, I was a bit scared that we could pull it off. Up until then, the most expensive building I had purchased with partners was $390,000. The building we were contemplating was almost four times that price. It made my heart race considering it.
However, we believed the building to be well-built, positioned great and priced right. That’s the trifecta when looking at a commercial project.
We made our offer on the building and then conducted our due diligence. My investing partner and I believed in the project, but our partners thought the price needed to be a bit better.
Then we did what we previously thought unthinkable.Read More