Archive for September, 2014

Sidney Weinschneider – Gives Blessing to Leon Weinschneider & Family!

Wednesday, September 24th, 2014

Interesting Story

Wednesday, September 24th, 2014

About a year ago, I listed Michaels condo for sale at $1,590,000.

What’s interesting is that in four months, I did three ‘broker Open Houses, we only had six listing showings, we actually took it off the market and ended up selling it for $1,800,000!

$210,000 above the ASKING price!

What’s really incredible is that there was only one buyer! He was bidding against himself!

That’s the difference!

You see, the game, the negotiating, the energy – that’s why I am in Realestate!

Money is not what motivates me!

People are what motivate me!

I normally don’t go to CLOSINGS.

Most of my clients don’t go to the closing either. You see, there’s really no need!

All my deals are are being sold in “as-is condition”, for all cash, no conditions and generally close in 30 days or less.

But Michael and his attorney, Gene, INSISTED I come to the closing!

I knew it was an ambush!

But I went anyway, just to let them know I wasn’t ignoring them.

When I got there, both Michael and Gene (a very wise, experienced and successful attorney) laid into me that I should adjust my commission because Michael had about $30,000 of mold repair to do in order to close.

I told them, I fought hard for your money, to get you $210,000 above the ASKING price, you don’t think I am going to stand up for my own money!
Michael tells me he is persian and Persians hold grudges generationally!

Gene also lays into me telling me they would never do business with me again!

I respectfully declined their suggestion.

Fast forward two months. Gene had mentioned to me that he was looking for commercial property to buy.

I knew of an off market opportunity. A group of apartment buildings, 26 units.

I signed Gene to a Buyer Brokerage Agreement form and closed six months later for $3,190,000!

At closing we could have flipped the property for $500,000 more!

But wait!

After Michael closed on the sale of his condo he buys a Bal Harnour penthouse and spends one year and $1,000,000 renovating this 4,700sf, 5/4.5 condo into the most luxurious condo in Bal Harbour!

Last week, Michael calls me that he is building a hotel on Chicago and wants to rent out his new Bal Harbour penthouse.

How much can I get for it? he asks.

Naturally, I ask him ‘how much would you want’?

Can I get $10,000/mo? He asks.

It will be hard, I tell him, since when people will look at the history and see that you only paid $1.3m, even of you put in “$1m” they’re not going to agree to $10,000/mo.

But, what if I told you I know of a way that we could get $12,000/mo?

Sure! But how?

We should List the property for rent at $12,000/mo and at the same time $4.7m for sale!

But I’m not interested in selling, says Michael.

I know, and I don’t think it would sell at $4.7m either.

But, it creates VALUE in the eyes and mind of the RENTER!

You see, Michael, the renter is thinking, why buy at $4.7m, it’s a bargain to rent at $12,000/mo!

Basically, I turned a one listing rental listing into TWO listings and a $4.7m sales opportunity!

Interesting Story

Wednesday, September 24th, 2014

August 2014

Here’s an interesting story I thought you might enjoy!

While sitting in Shallots Restaurant in Chicago with a client, a gentleman in the table next to us, started to choke.

I immediately went over to do the the Heimlich maneuver on him.

The restaurant compted us deserts.

It turns out that it was Senator Ira Silverstein!

We talked afterwards. He thanked me.

But wait, there’s more!

For no particular reason I asked him does he come to Miami Beach?

He says ‘yes’.

I ask him where does he stays?

He says ‘The Alexander Hotel’!

So without missing a beat, I tell him I may have an opportunity for him! And I go on to tell him about 5225 Collins unit #1201 and give him one of my Property Business cards with info and web site for said property!

Nice story!

It shows you that miracle opportunities come from G-d from random acts of kindness!

Later the next day Senator Ira Silverstein called me to thank me for the other night and that he would be looking over the Alexander condo on my web site later that night with his wife!