Most of the time we’re dealing with incomplete information.
We just don’t realize it.
This past summer, I heard a commercial unit a few doors down from a pair I’d just purchased (and am paying $6,000 per month for) had been rented out at $4,000 per month.
It left me feeling like I’d overpaid.
An effect that the massive interest rate increases had on many of us. When I put the units under contract 18 months earlier the payments were projected at closer to $4,000 per mo.
I was thinking to myself, I should have just rented a unit, buying… why?
And then, about 3 months later, I got into a long conversation with the tenant of said unit and discovered the true lease amount. $4,000 +++ (triple net)
His actual payment?
$6,000 per month
To rent, not to own.
Turns out I was beating myself up (low level in the back of my mind) all for nothing.
How many other things in our lives follow this pattern?
DW