Yesterday, I instructed our broker to tell the landlords we've been negotiating with since February that we were through. Yesterday, my wife and I made the decision to eat the architectural fees incurred so far and cut bait. Yesterday, my wife and I made the decision to give up on the space a five minute walk from the house in order to pursue a better space a five minute drive away. Yesterday, my wife and I made the realization that they've cost us $7500 in lost revenue simply because they're incapable of getting documents signed within six weeks. Yesterday I ran the calcs in Excel and determined that between the lower interest rate charged on our capital and the higher costs incurred because they refuse to rehab their space up to code, what was a $300/mo difference in their favor has become a $450/mo difference to their disadvantage. This, combined with the fact that our interactions with the state regulatory agencies have illustrated our requirements are less stringent than we thought, indicates that our space planning needs are substantially more versatile than we thought and as a result, the space we stopped pursuing in June has become a lot more interesting in the past week. Isn't it nice that the owner of the building (not his broker) approached our broker out of the blue two days ago to see if a deal could be made? I'm told the space isn't even listed on any of the indices right now. not gonna lie. It sucks ASS to have eaten $4k in design fees. It sucks ASS to give up on two months of revenue. And it sucks ASS to have been entrenched in mortal combat over contracts for six months only to walk away with only three points of contention left. But holy shit as soon as we decided we were done with them it was like a weight off our shoulders. It's like that moment when you've finally had enough of the abusive boyfriend and you make up your mind that you're through. We haven't officially severed ties yet. That seems imprudent. But we're definitely refocusing our energies on the other property, fees and penalties be damned. I HATE commercial real estate. It's gotten to the point where the best experience I've had in the past six months has been burning money out of spite.
you should print out some photos of Bejamins, and actually set them on fire. might make you feel better. burning money out of spite.