I talked to an investor friend on Friday. He recently purchased a commercial lot and went through the entitlement process for a self-storage facility. He was all in at $1.5M. He immediately got an offer for $9M once the entitlements were approved. Crazy enough, he turned down the offer! Here's why....
He figured out that he could build the facility himself and be all in at $20M and then sell it turn key to a national operator for $45M.
So when do you turn down a $7.5M payday?......when you have a $25M payday right down the road!
A bit of Monday morning motivation for you! Have a great week everyone.
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