I I teach investment real estate, among other real estate and mortgage subjects. A lot of what I'm into is what I like to call "opportunity investments" most would say "distressed properties" but this is a misnomer since even the most dilapidated property doesn't know it's distressed. Properties aren't distressed, people are! The key to profiting on such opportunities is recognizing them and making a good decision very quickly. They say "opportunity waits for no man" I believe it.
I'm a firm believer that in real estate and in life that a person should know what they want, study the subject, and then go looking for it, so that when they find it there is no ambiguity. When you know what your looking for it doesn't take forever to make a decision.
In my real estate this has almost always been the case. When Brenda and I were getting married we wanted a house of our own, we were in contract on our first home in less than an hour and a half from the time we saw it, we closed, complete with a new mortgage 8 days later. When I left banking to go into real estate I purchased our second home and recorded the deed less than 5 hours after first seeing the house! Our third house, I owned 15 minuets after hearing about it, without even seeing it. Our dream home was under contract less than 2 hours after I heard about it, and that included a large breakfast I shared with the listing REALTOR®! In all but our first home we weren't in the market of a house, opportunity presented itself and I made a decision!
In real estate I've never made a quick decision to act that I regret, I only wish I could say the same about thing I turned down! In fact over the years I've only made two decisions to act that I regret, in both cases I let my objections be worn away, one took over three years the other almost eleven! I've written many times that I carry two option forms a sheet of carbon paper and a blank check at all times, in fact now days It's often replaced by my laptop, an a CD copy of "Lawyer In A Book" (see http://www.reii.org) and a portable printer. When a seller makes an offer or says he'll accept your's option the property, I recommend 7 to 30 days, do your due diligences, but never walk away from a willing seller.
So much for real estate I want to tell you about my best decision, my best deal ever. In 1969 I found myself suddenly out of the USMC I'd failed a physical and they canceled my contract for OCS. A friend introduced me to the recruiter for a finance company and I accepted a job. One major car accident later (I had a 50 mph collision, while parked getting gas) I started my new life a few days latter. Almost a year latter my sister was getting married, after one of her showers my Mother started calling me. Mon had found the perfect girl for me! No self respecting 22 year old could let his mother set him up, so I stayed away (I lived and worked 60 miles away) only showing up when I had to and always with out letting my mother know I was coming! Mother then announced that I'd meet the perfect woman for me at my sisters wedding, I had a problem! My solution, I had 3 weeks to work on it, was to take a date to protect me. Of the single women I knew there was only one was acceptable to introduce to my family let alone spend most of 24 hours with. She was a really nice kid, fun to talk with but nothing serious. She was the oldest of twelve and wanted to be just like her mother. O'my God! As the oldest of 5 myself I knew two things, I wanted kids and 2 were plenty! A couple of dates later I explained my problem and asked her to protect me. 36 hours before the wedding she called me. Bill do you know anything about the measles? I had them as a kid, why? She said "Daddy installed a phone for a family that had measles last week and everyone, but Mother has them." I hope I was polite! This was late in the day September 15, 1970 and I don't remember. I couldn't let my little sister down! Could I?
I went straight to the Church, maybe I could avoid my Mother until she was to busy to meddle with my life, maybe something would happen.
I was to Usher then stand up with the happy couple, could I suggest to my sister that she run away, could I threaten the groom? That was an interesting idea, I was 6 inches taller and 50 pounds more muscle. No Shirlie, my sister would never forgive me, I was wrong we just didn't know it yet.
People started coming in, I seated those on the brides side. There at the back of the room three girls I knew the tall one, a curvy red head with a mouth that went from ear to ear and chartered like those wind up teeth. She and the other two worked with Shirlie. I seated them. Could I take her to the reception, no way. I keep going back to talk. Mother will be there in 15 minutes. We talked some more. She introduced me to the other two, the older one was my age and seemed very nice. I spotted Mother out side the Chapel, I ask the older one to step out side with me. I asked her to the reception, explaining everyone had a spouse or date and my date had the measles, she agreed. Thank God. I never mentioned I needed protection. I avoided Mother as much as possible.
All of the women at the reception giggled at me, they'd been to the showers. Mother was still trying to get me alone, I avoided her. 12 hours latter Brenda, the nice one, and I had talked a lot, sitting in my truck next to her Mustang we decided to get married. Actually she asked me, I made a decision. We discussed eloping then, but we really didn't know If all we had to do was drive to Ohio, 70 miles or much fathers south and she had her last semester at WMU to get her degree. We got out a calendar, she graduated on my birthday April 16 we were married a week later April 24, 1971.
April 24, 1972 we had my parents to dinner at our home, my Dad raised a glass and made a toast to my bride. I flippantly (yes, I can be flippant) added thank God I avoided Mother's choice. My Mother and My bride choked on their wine spraying our new formal table cloth, my father just laughed! I'd been had. Wonderfully so.
Today is our 36 anniversary. I've loved her every day.
Brenda has patiently put up with all my follies.
Brenda has held my hand when I needed comforted, my head when I needed to cry.
She has shared my public triumphs, and lovingly patted my back when only we knew.
She is the reason to rush home at the end of the job and she encourages me at the start of each day!
She has known all of my faults and failings and has loved me most of my life.
I believe you are who you associate with. Personally, I strive to be the man Brenda sees in me. I love her.
I remember this is a real estate form. In real estate and in life. Know what you want, recognize it, make a decision, and commit yourself. With luck may you find your Brenda.
Bill
Bill
William J Archambault Jr
The Real Estate Investment Institute
wja@reii.org 832-259-7078 or 702-516-1569
From my past: GRI 1975, FLI 1974, Catalyst from a client 1974 an agent that makes things happen, REII, The Real Estate Investment Institute 1995.
©William J Archambault Jr ©The Real Estate Investment Institute ©REII
