Just missed

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I was trying to buy a small office building in East Hollywood.

Because it was a former gas station, we were concerned it was contaminated.

I spent an enormous amount of time trying to structure a deal that would put the risk on the owner, not me.

Eventually, it became clear I couldn’t do it in a way that made sense and allowed me to get the financing I wanted.

I walked.

One of my competitors jumped in and took the risk on the environmental.

The property came up clean. He’s closing next week.

Ouch.

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