I had to repeat it back to him because, at first, I thought he was joking. And, even though he said it in a joking manner, he was and is dead serious and absolutely correct.
This client was able -- through my help -- to sell a majority of his portfolio of properties in 2006 and the last in 2007. When we met, I reminded him that he made out like a bandit looking back with 20/20 vision. He laughed and said, it was all just the right time for him.
And, even though, he still maintains a couple of properties, every once in a while, I will call to test his appetite for acquiring real estate. And, this morning, after reviewing a few potential properties, he said the above and decided to wait some more.
And, not wanting to catch the falling knife is great symbolism. because in it, it is implied you will be hurt. Cut even more badly than you would want. And, even if you were able to catch it clean, your chances are still great that you will be cut in some manner.
Are there deals? Of, course, Yes! But, for most of my clients waiting is their option and they do NOT fear time. Unfortunately, I keep trying to tell them to NOT wait. Why wait for the property that you can acquire for: $1.6 Million to see if $1.55 Million would be more attractive?
And, I am seeing this on a lot of properties where companies and individuals are pressing the envelop to get the cheapest price available.
And it holds true for even the clients I am working with. One has the mantra it's going to be his price or the highway.
For Information about Las Vegas Commercial Investment Property, contact David Howes at: email@example.com