The deal that fell through

A subdivision I was analysing fell through during due diligence. I spent weeks taking it apart.

It was not one mistake. It was an assumption about zoning and infrastructure we had not validated, and a question of timing nobody wanted to name.

What one market calls undevelopable, another calls an opportunity.

I wrote down what the market had actually told us, and what I would check first next time.

I am still not sure the deal was wrong. Maybe it was only early.