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Old January 24th, 2007, 01:09 AM
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Default Have You Ever Kicked Yourself?

Let's share some really good self-flagellation stories, as I had another in a series of reminders of mine today....

Here goes....

Twelve years ago, my brother approached Mrs. Cynic and I, looking for investors in a new venture he was launching. The buy-in was $16,000 per share. We were newly-married, and not in a position to jump in at that time, and so we had to pass. He sold this company last year, and the final statements were issued yesterday (along with cheques for those less STUPID, STUPID, STUPID than I).

A $16k investment would have got you a nice cheque for $1.17 million

To quote a 20th century icon, Charles Brown:

"AAAUUUUGGGGHHHH!!!!!!"
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Old January 24th, 2007, 04:20 AM
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Oh my gosh!!!
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Old January 24th, 2007, 08:10 AM
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Oh my Lord was my first response!! How do you feel about it CC?
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Old January 24th, 2007, 08:44 AM
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That is painful!
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Old January 24th, 2007, 09:01 AM
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I would have to say yes, but not to the magnitude of Cynic's story. I sold a vehicle for about $5,000 needed the money, didn't have much choice. The buyer held onto it for a year or two and sold it for $15K. I miss that car.
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Old January 24th, 2007, 09:34 AM
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When is your brother starting a new business? and is he Warren Buffet? Bummer dude I feel for you.
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Old January 24th, 2007, 09:40 AM
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Not quite on the same grand scale but we made an offer on a house In Ocean City NJ before we purchased our current one in Marmora, slightly more inland. We offered $300.000 and it was accepted but we declined for various reasons. The same house resold two years later for over $600,000. It is on the island but not close to the beach, but the mania for buying in Ocean City doubled the price. The house we bought here in Marmora has also appreciated quite a bit, but we are long term and love the house and the location.
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Old January 24th, 2007, 11:35 AM
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That's a serious downer. It's not even a consolation to mention all the taxes you'd owe.

Seriously, did you think it was a good racket 12 years ago. In other words was your lack of cash the only reason you didn't buy in, or did you also think it was too high-risk a venture? The ones that pay off that way usually are high-risk going in.

But hey, somebody wins the lottery every day. Not everybody buys a ticket. Just move on.
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Old January 24th, 2007, 11:41 AM
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Like Doug, many years ago, we looked at a house on the water in Newport Beach, CA. The house had its own dock. We also were young and newly married and couldn't afford to make the change. No telling what that house is worth today. But we are very happy with our home. It, too, has appreciated admirably.

On a much, much smaller level, I still regret not buying a beautiful leather tote that I saw in Tortola recently. Next time, I won't consult with the DH but will just go ahead and buy. :evil:

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Old January 24th, 2007, 12:26 PM
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EEEK Cynic.. that's quite a bonanza (in only a dozen years) that you missed out on.

In about that same time frame ... about 12 or so years ago, some people building a golf course, with an air supported dome to be used as the city's indoor driving range in the winter months, approached me to run and lease the food and beverage operations at the facility. I worked out a sweetheart lease (because no one knew how winters with the dome would do), and I took in a working partner as I was tied up with the hotel/bar full time.

We built the interior of the restaurant and half way shack for snacks, and bought a beverage cart to run on the course, and the place did GREAT from the get go.

About 7 years ago my working partner got into a sqaubble with the golf course owners, and they made an offer to buy us out, and my partner wanted to accept it. We had an agreement where I could have just bought him out... and no doubt I could have got along with the owners.

At the time I had a bunch of other "stuff" occupying my time and mind, and I just agreed to the sale, and did OK. HOWEVER, there's NO question I should have just bought out my partner, and hired a manager to operate the place.

The place is still operating, and still doing great. In the time that's passed I'd have already made at least twice what I did on the sale, in profits, and now that we've sold the bar, I'd have a pleasant, profitable place to hang my hat, and wouldn't be out looking for something new. Ah well!

OHHH.. and my ex partner who attributed all the success of the place to himself, bought a regular restaurant where he had to compete with every other restaurant in town, and went bankrupt within 3 years. (the key to the golf course, of course, was/is the locked in clientele delivered by the golf)

Missed opportunities can drive you nuts. Guess that's what happened to both of us Cynic
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Old January 24th, 2007, 12:39 PM
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Living in south florida with land and home prices the way they have been here's my sad sap story.

1) was offered 5 acres of land for $80,000 out in the sticks. Told my wife we could build our own little world on it. The roads were dirt roads and she didn't want that cause there was no place to rollerblade (she is not even a avid rollerblader) those properties about 5 years later sold for $200,000 an acre! do the math!

2) saw some peoperty in a very upscale neighboorhood and they wanted $125,000 for it. Decided against trying to buy it cause I was in school. That same property sold 2 years later for $500,000.

3) we decided to build the house we are currently in so we decided to sell our house and the rental house we had near the ocean in Jupiter, Fl. we paid $70,000 for the rental and sold it, to buy our current house, for $170,000! nice huh? well that same property 1 1/2 years later was worth $325,000! If I had waited I could have sold it then and been mortgage free.
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Old January 24th, 2007, 05:23 PM
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My Father built (for $8000) a simple large cape cod on a full acre in Northern Va in 1947. I was raised there and when my Mom was put in a nursing home my nephew (who wanted to keep it in the family ) bought it in about 1994 for $125K. He sold it in 2003 to move to Texas for $650K. No Va has had a tremendous growth and appreciation.

Wish I could have bought it back in '94. My nephew didn't really buy it for that kind of investment.

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Old January 24th, 2007, 05:29 PM
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When I was a little girl we owned a house near the old Atlanta airport. We sold it to a young couple, and moved into a bigger one. Some years later, they sold it to make way for the very large extension of the present airport. So if you are ever in the Delta terminal, wipe your feet, because you in my old home. The young couple retired at 30 and moved to Florida.
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Old January 24th, 2007, 05:32 PM
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heres another. My FIL had a chance to buy gulf front property in marco island fl back in the 70's for 5 grand. didn't do it. Now, instead, the hilton hotel is sitting there!
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