Saturday, March 14, 2009

4th times a charm?

On Monday, we're going to visit our fourth real estate since this whole thing started. We gave up on a "traditional" real estate agents months ago, but this one kind of fell in our laps and he wants to help. He's actually Wayne's real estate agent (remember the recording studio/venue guy??). He offered to help us out and Wayne's taking the summer off from looking for a location so I decided to take him up on his offer. Meeting with a regular real estate agent is exactly where we started ... only this time we're a lot more knowledgeable.

Let's recap what we've learned:

To build out a space from an empty shell is hella expensive... like $350,000 (no, thanks)

Looking over a business' books overrules anything an owner or agent may tell you (the truth is in the numbers)

"Blue sky" = bullshit (ie a business is selling for $100,000 but only has $20,000 in assets... where'd you come up with the other $80,000?)

These are the big lessons that we're happy to have survived and learned from. We also know we're meant to be on the East Side... which already gives us a leg up from when we started.

Nick (the new realtor) wants us to make a list of everything we are looking for and he's going to send an email out to all his real estate buddies to see if we can't come up with a match. You never know if a cafe is falling behind in their rent payments or something and we may be able to swoop in. At this point we're taking any lead we can get.

Our dream location could be days away... 'just putting it out there'

1 comment:

  1. woo hoo!!! i'll keep my fingers crossed for you!!