Attended the Arizona Business Brokerage Association (AZBBA) as a welcomed guest of Michael Abbinante this morning. He's sold more businesses in Arizona the past few years than anyone - he tells it how it is and is one of the better brokers I've worked with. Amazing how many people I've come to know over the years. I probably have done business with more than half the members there, many of whom I'd never actually met face to face until today. Great group of people. For those looking to buy a company, attending one of these meetings as a guest might not be a bad idea...
Met with a friend for lunch who I know through Toastmasters. With his background in M&A, consulting, and capital raising, I'm intrigued that he wants me to partner up with him in creating a new private equity / venture capital / incubator - consulting firm on a partnership basis. He's invested a lot of time and money into the project already. I've always respected and admired him and would welcome the opportunity to work along side him. Still in brainstorming for now, but certainly intriguing.
Met with our Realtor this afternoon to discuss selling some of our properties. Joan Kilby is not only a great friend, she's probably the most experienced, passionate, well-educated and loyal real estate agent I know. We're pretty much upside down on all our real estate at this point, and our holding costs compared to the inevitable hit to our credit, should we choose to short-sale the properties seems to be a no-brainer. On the other hand, I'm a big believer in sticking to the contract we signed - our word is our bond - and I detest the idea of not living up to what I agreed to on the loan. After a lengthy discussion and getting caught up on life, Joan talked us out of listing the properties since we intend on purchasing more real estate this year.
Brae is calling me to dinner.