#aarealestategroup | AA Real Estate Group

Wow. I’ve been waiting for this project for 5 years.

Is it possible? I hesitate to share all the details with you (since I know that’s a jinx!), but I’m so excited, I can’t quite shush myself.

There comes a moment in every real estate investor’s life when they want to lance the Great White Whale (thanks Moby Dick, a solid 4 chapters ONLY describing how “white the whale” was… geesh).

I had been following this parcel for 5 years, and it went under agreement twice, with big commercial developers, that I knew I had no chance of beating. But then – one by one – they backed out, one since they couldn’t get a drive through approved, and the other, being they couldn’t get their retail anchor tenant they wanted, to commit.

As I’d been working very closely with the economic development team in this town, they called me to inform me the property was available again – and I immediately didn’t waste a SECOND this time.

Have you ever had moments, where you hesitated – and the opportunity is gone? I’ve had plenty. Thus, the whole tagline in my office (#ShutUpAndDoIt!)…but this time, I jumped in.

And – it just so happens, that over the last 5 years, the town was doing everything it could to foster development, including, a zoning overlay, right in this very spot.

I truly feel, that as of now (still going through feasibility and due diligence!), we have the RIGHT location, at the RIGHT time, with the RIGHT team, and the RIGHT government to make this work.

And, in case you haven’t heard by now… I’m super, super excited. Condos on top, Restaurant, Retail and Office on Bottom – OUR office. And a Restaurant I’ve personally chosen. On Riverfront. At a busy intersection and a very visible “gateway” to the town. With parking and tax incentives. And Bonus depreciation. And… well, you see why I’m excited.

We’ll most likely be looking for partners and other possible relationships with folks on this one – if you’re interested, send an e-mail to me , and we’ll be sure to talk and see if it’s the right fit!

In an upcoming post – I’ll let you know how we run due diligence on a project like this – even I need to get out of my comfort zone every once in a while!

We have spent a lot of time over the last couple of weeks thinking about our internal goals for 2019 as an office, and as individuals. In our office, our model has changed a little bit as we are getting away from taking on each project as a full rehab. However, we are still looking to do the same number, if not more, of transactions that we have done in the past. Changing our model though does not change how we want to go about the process, and our first step in our collective process as an office is thinking about our goals.

The first conversation I have with someone who is in the Complete Dealflow System (completedealflowsystem.com) always revolves around what they have accomplished in years previously and what they wish accomplish in their year upcoming. This allows us to anchor ourselves with a tangible target, that hopefully is not entirely financially motivated. Think of the simple formula that (X) calls turns into (Y) conversations which turns into (Z) appointments and with your specific close rate turns into (S) offers which brings you into your (M) closed deals- which means you get paid, and everybody loves getting paid right!?

Think about what is you want to accomplish and put forth a vision that of where you want to be. What does that look like? What does that feel like? What does sound like? Be as specific as you can possibly be. A great list of goals is not just one sentence by itself, but rather encompasses what you want to do, how much of that something you want to do, and by when you want it done: Bad Example: do more wholesales. Good Example- five wholesale deals by the end of March. The second example anchors you into doing five specific transactions by the end of a certain time period.

The more you can focus on doing the little things, the bigger things will seem far easier and you will become comfortable with the uncomfortable. As always Nick and I are available to go over your goals and talk you through creating them to make your 2019 your best year yet!

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