Michael Kapnick: The way investment real estate ought to be done!

Many investment real estate brokers view the market as having limited buyers and sellers, and they never compliment another broker or give ’em a break.  Those holding that viewpoint are sure to be disappointed by this post. I am grateful for the opportunity to work with a real estate professional like Michael Kapnick of Marcus & Millichap.  He’s one of the very best.  We  closed a multimillion dollar deal for a Medical Office Building recently.  He represented the Seller, I represented the Buyer.  It started out to be an all-cash, quick close deal.  We both had the luxury of great clients…no finance contingency…what could possibly go wrong? Everything! There was a litany of challenges, but the Preliminary Title Report problem stands out.   Five (5!!) lawyers, each representing a different viewpoint became involved.  Michael and I vigorously represented our clients and often disagreed with each other, but we were never disagreeable.  Despite weeks of negotiations and multiple creative proposals we canceled the deal and the Earnest Money was returned. Because Michael and I worked well together, we kept in touch, even when he found a new buyer.  When the new buyer faltered and went out of contract, Michael and I came up with a solution that created a win-win for both parties…and we closed. I’m proud to work in an industry whose elite pros demonstrate tenacity, creativity, and customer focus like Michael Kapnick.

For creative investment real estate solutions contact Rick M. Bean of Rose City Commercial Real Estate at 503.577.1034 or rick@rosecitycre.com.   August 2014 update:  I continue to work with Michael Kapnick on deals, and my respect for him continues to grow.  I have even referred business to him even though we work at competitive brokerages.

 

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