You receive a listing for a 6,930 SF office building in downtown Center, Texas. The asking price is $1.1 million, and the advertised cap rate is 8.18%. At first glance, the numbers are interesting. But office buildings introduce a different set of questions than self-storage, industrial, or single-tenant retail. A tenant leaving can mean months of downtime, leasing commissions, tenant improvements, and capital expenditures before the space produces income again. Before opening the spreadsheet, what are the first three questions you would ask to determine whether the reported income is sustainable? Share yours in the comments. Then we’ll work through the opportunity together from The Questions → The Underwriting → The Offer → The Decision. If these are the kinds of acquisition conversations that interest you, we'd love to have you join us.

This one has an interesting wrinkle. The listing advertises a 10.67% cap rate, but the same property also appears to be marketed as available for lease. Before doing any serious underwriting, what are the first three questions you would ask the broker? Drop yours in the comments. Then we'll work through the deal together: The Questions → The Underwriting → The Offer → The Decision

You receive this listing from a broker. The headline says 6.00% cap. Before doing any serious underwriting, what are the first three questions you would ask about the tenant and the lease? Drop them in the comments. Then we’ll work through the deal together: The Questions → The Underwriting → The Offer → The Decision

What are the first three questions you would ask before taking this deal any further? Drop them in the comments. Then we'll work through the deal together from The Questions → The Underwriting → The Offer → The Decision.

Closing day feels like the finish line. The documents are signed, the money moves, and after months of searching, negotiating, financing, and due diligence, you're finally the owner. Then Monday morning arrives. The employees aren't thinking about your purchase price, projected returns, or growth strategy. They're wondering what your ownership means for them. Are their jobs safe? Will their schedules change? Which processes will disappear? And how quickly will the new owner start changing a business he hasn't actually operated yet? In this episode of Dealmaker Diaries, Don experiences the ownership shock that rarely appears in an acquisition model: acquiring authority over a business happens immediately, but understanding that business takes time. Sometimes the most important thing a new owner can do during the first days after closing isn't demonstrate what they know. It's recognize how much they still need to learn. Every acquisition teaches two lessons: one before closing and one after. The goal is making sure the second lesson is not the expensive one. #DealmakerDiaries #BusinessAcquisition #AcquisitionEntrepreneurship #Entrepreneurship #DueDiligence #BusinessOwnership