I Have a Question for You

Vacancy Rate?
How is Your Vacancy Rate

I went to see my commercial lender last week.  The company account into which I deposit my rents happens to be in his bank, which by the way is not an accident.  This is a bit off topic, but pay attention:

Finance is a relationship business – it doesn’t hurt to have a few bucks on deposit with the bank if you’re gonna ask them for money; just sayin…

The banker’s office is down the hallway from the tellers in such a way that he can see who is coming and going through the glass door.  Well, when I came in I was smiling; I know I was – I remember the feeling.  I had 100% occupancy in the month of October for the first time since March.  I made good money in October and I was on my way to deposit it in my account – good times!


HIM:   You want some money?

ME:     No, why?

HIM:   The way you are smiling – you got me worried…

ME:     Dude – no way.  I’m tired.  I’m not looking for a deal.  This 10-plex has been a pill…

And I went into a long-winded description of what I’d been up to since we saw each other about 5 months ago.  Well – as I am telling him about all of the movement among the tenant base, he gets this look on his face and interrupts to tell me the following:

Two years ago all of you guys were coming in here telling me that you are running at full capacity – all of you.  And now?  You must be the 5th guy in two months coming in here and moaning about vacancies everywhere…

This made me think, which can be dangerous…

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Photo Credit: milos milosevic via Compfight cc

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