Your Toughest Victory

**Deal_Maker** · 06-25-2009 09:22 AM

As a business owner what has been your toughest win? Maybe a big client that you had to bend over backwards for in order to get a contract with, an investment that almost collapsed, etc.

Mine was a few years ago. We were acquiring a building in Ohio. It's a relatively small building compared to what we normally work with- only about 200 units and $7M- so I figured it would be nothing, I'd have it done in no time. If only I knew about the disasters that were ahead I probably would have never started the deal. The financing fell through 5 times before we finally secured a note. We went from closing in 60 days to closing in 6 months. The only reason the seller didn't tell us to take a hike was because the building was in bad shape and he had nobody else to sell to at that price. The next best offer was at $5M and he had a $6M note on the property and the lender wouldn't eliminate the deficiency balance if they did a short sale...thus he would owe $1M in cash after the sale.

Long story short, we hit one problem after another whether it was a financial, structural, or political but I kept digging through and eventually I got everything to fall into place. The building is now worth $16M and it's fully occupied.

What was your toughest victory?

**jonathanfigaro** · 06-25-2009 01:08 PM

Sound great! i think i need to talk to you if your making million dollar deals like that in reality. But i think by toughest victory , was controlling my own MIND.....Can anyone relate to the mental battle?

**Deal_Maker** · 06-25-2009 01:15 PM

Very true, the toughest person to lead is yourself.

**jonathanfigaro** · 06-25-2009 01:18 PM

Originally Posted by Deal_Maker

Very true, the toughest person to lead is yourself.

So man, what exactly do you do. as an entrepreneur myself, I'm quite interested in a person who throw figures in the millions on investment in threads.

**Deal_Maker** · 06-25-2009 01:49 PM

I run an investment firm. Commercial real estate ie. hotels, apartment buildings, office buildings, shopping malls, etc.

We buy, renovate, and hold large properties and we also buy pools of properties that large institutions sell off, chop them up and resell individually.

To all those who reply to the thread, I'll be in Paris for the next few days finishing a deal. Will try to reply on and off but won't be hanging around the forum for a few days.

**jonathanfigaro** · 06-25-2009 01:50 PM

Originally Posted by Deal_Maker

I run an investment firm. Commercial real estate ie. hotels, apartment buildings, office buildings, shopping malls, etc.

We buy, renovate, and hold large properties and we also buy pools of properties that large institutions sell off, chop them up and resell individually.

To all those who reply to the thread, I'll be in Paris for next few days finishing a deal. Will try to reply on and off but won't be hanging around the forum for a few days.

Sound like great. did you do to school for this?

**Deal_Maker** · 06-25-2009 01:53 PM

I went for international business. Should have gone for real estate, would have saved a lot of mistakes I made when I first started, but you pick things up quick when every mistake costs tens of thousands of dollars if not more