After the 4 businesses in my life – businesses that closed or failed in various ways – see other posts, Pop offered me a job managing the family real estate. Some things for me to do:
- Find a new office. Lower rent, closer to home.
- Manage the repairs and maintenance.
- Represent Pop in daily matters.
- Work with The Girls in the office.
- Find NEW opportunities to invest and grow.
- Obtain a salesman license to earn commissions in RE.
Sounded great. I had just finished selling off the inventory from the last enterprise. Pop had given money to start and run this one, and it failed within a year. So I was ready.
Sat with Pop Feb 1. He listed many many things. We reviewed all ongoing projects and I took over, reporting to him a few times a week. We also had a property Manager. Manager would still work for us, I would replace Pop day-to-day.
Three weeks in, a next-door building to one of ours collapsed. This caused floods and damage and unhappy tenants in our space. I dealt with insurance, clean-up, tenant issues, water damages, claims, street closures – everything. I reported up the chain and all was ok. I was managing and doing the job.
I found us a new office, helped negotiate the lease, moved us out of the old and into the new. Basically moved the whole company.
We worked on one major investment for 6 months. Pop gave me the listing, and I went to look at it. I liked it and brought Pop and Uncle to see it. They liked it. We made a bid and worked on it for 6 months. Leases, contracts, lawyers, all the details of a 12 tenant shopping center. But the deal fell apart because one tenant was being difficult. This took us from April to November ’18
I found and worked on at 4 investment opportunities. None worked out.
I also looked at new properties.