The Mall Part II

Hope your 4th ROCKED! Had a great time with the wife and kids in the h20 and 90 degree sunshine (yes, we get some damn hot days here in Salem).

My last post was about a potential "mall" purchase. Things are already getting interesting. Here's the latest I sent out to those interested in the property and the call coming up next week:

"...Just got off the phone with my Broker. Essentially, there's a potential buyer making a move on this property THIS week. And, that's OK. So, we're going to re-schedule this call for a later time. They've done this before and they screwed it up b/c their offer was a mess from what I heard via the grapevine, and you wouldn't believe how twisted this vine is!! I don't anticipate it being too different this time, and if there's one thing I learned, DO NOT act in haste b/c you perceive another potential Buyer is going to take your prize!! It is NOT worth it!!! SO...We're going to sit back and see how things materialize for the next 2 weeks. You'll hear from me when the time's right and I'll do my best to give everyone at least a 7 day notice for the re-scheduling of this Mall Call."

So, for now, we're holding and we'll wait and see what happens. It's a gut instinct thing I guess. I asked my broker if I should hang tight or get involved, with my gut telling me to wait. He agreed.

I'll keep you posted. Meanwhile, I've re-directed my efforts to a 6-unit apartment building. It got my attention with a No-Money Down headline. There's value there - from the Buyer's perspective and from the Seller's. They got my attention by offering clever terms (oh, and a 1-year tax abatement which I figure is worth close to $5,000 based on other properties I have in the area) and of course, upside on rents.

Hope you have a great weekend - I'm headed to the lake with the kids, wife, dog and the travel trailer. Yup, even I love to camp! Nothing like the smell of a campfire, burnt marshmellows, Hershey's chocolate and of course, Honey Maid Graham Crackers...Oh, and an ice cold adult beverage to boot (or multiples).

Adios, Stay Cool. Jerry

Real Estate Education & FREE Information for Busy Dentists - For more information visit http://www.RealEstateForBusyDentists.com