Tommy Dobczyk lost $22 million on a 2009 real estate deal after discovering the property had contaminated soil. He had a public meltdown over it, then realized he could have requested a price adjustment during due diligence instead of letting emotions take over.
Chapters
Are you in the deal room? Dollar mistake on my end in 2007, right? I bought that piece of shit in 2009. I was $22 million broke because of dirty soil. You think I want to get into that again? That's why I was acting the way I did yesterday. Play the clip. Got it up or no? I— we don't have Wi-Fi. Never mind. I'm saved by grace today. God, thank you for the Wi-Fi. Everybody who was there, anybody that was there. Yeah. See me melt down, watch my ears turn red. And literally Oscar the Grouch came out of the fricking garbage can on that guy yesterday and kind Don't be laughing. I can't see you very well, but if you're laughing at me— Tina's laughing. Everybody's laughing at me. Anyway, point being that I went back and analyzed, did a lot of self-analysis about what I could have done. And the first thing— oh, it's 12:12, make a wish. The first thing I could have done was taken the high road and been like, you know, when he said that I needed to own my part in the LOI, I said, you're absolutely right. And at this point in the due diligence process, Your property is overpriced. We'd like to change our offer. Right. And so that would have been the high road right there. We need to change our offer. Yeah.
