Business decisions should never be made with family members?

Question

I bought an appartment during the civil war for $150,000. At that time, people were selling their property for dirt cheap. The war ended in 1993, and the economy has been increasing since then. A boom in the economy happened in 2003 where someone offered me $750,000 for the appartment, and if i pushed it, i probably could have gotten $780,000. The boom (obviously) wore down with time, and so did the prices. I sold the appartment in 2005 for $500,000.
The reason I did not sell the appartment is because my wife wanted us to move back to our country, and live in that appartment... so i fixed it up so we can live there, and then things changed, and we didnt move. So not only did I fix up the appartment for $20,000, we never moved, and thanks to me listening to my wife, I made one of the worst business decisions in my life.
Do you agree with me?

Jellybeanchick i knew the price was gonna stop increasing once it hit 700ks... im not stupid to sit there and hope for it to turn to 1 mil... thats impossible... it was a pretty predictable ending to the boom, and i knew that was a once in a lifetime chance.

Answer 1

life is not about the wront business decisions your make, anytime we loose something, at the end, we actually always get something in return. Look for that once you find out what it was, maybe it would have been for the best.

U sound like your already successful, i think u can get that money back anyways... just not now but in time

good luck..

Answer 2

It's not your wife's fault that you only made 200% profit instead of 400% profit. At the time your apartment was worth $750K you had no idea if the market would go up or down. You cannot predict the market. If you had sold at $750K, and the market kept rising to where it was worth over $1 million in 2005, you would be thinking you made the worst business decision by not listening to your wife.

Anyway, you made a huge profit. And decisions about large purchases and sales, such as property, should be made by both a husband and wife because they are both affected and they both have a stake in the outcome.