Imagine having a business on 8th Street in Port Angeles near the 8th Street Bridge, which is being replaced right now. You’re at a dead end with the bridge out, so virtually no one will come to your place of business during construction–for a year! Of course, as you gaze into the deep deathlike valley below the non-existent bridge, the large sign states, “8th Street Businesses are Open During Construction.” Yea, that’s pretty funny. No?
I recently recommended to one of those business owners, who wants to sell, that she just hang on. No one wants to buy, and if they did, it would be for a song and a six pence. (How much is a six pence anyway?)
It gets better. Imagine having a business on 8th Street between two bridges that are both being replaced at the same time. I would guess some of those business owners feel like playing Russian Roulette. Working on a French slave ship doesn’t sound so bad anymore.
Lesson for the day: Be very very careful where you buy a business property. Yes, location is everything, almost. There are only a few big rules in life, one of them being, “Never get involved in a land war in Asia.” Now we know the other one, “Never buy property next to a bridge, but never never buy property between two bridges.” [Rule 113 of Real Estate Investing for Smart People]
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