I recall the day vividly. As a young man, I had a lot of choices ahead of me. At the time, one of my big choices was, “how long will I get to hang out at mom and dad’s house?” My brother and I are very close in age and we were having the time of our lives living in a really cool house that my mom and dad had raised us in. I was 20 years old, my brother 19 and we worked at a family business. We both had been taught to save some money instead of spending each of the few dimes we made at the time. One day, dad came home and said, “You bought a house today.” Of course, if you know my mom, you know that she cried. 🙂
For many “old timers” in the business, you might remember the days of the assumable, without qualification, VA loan. (I could go off here about our current lending environment but I’ll refrain) My brother and I gave some very nice people $4000.00 to purchase a nice little 2 bedroom home in a great Mesa location, a couple blocks south of the Superstition Freeway near Gilbert Road. The experience helped to shape who I am today.
Soon, we added another bedroom on to the home as we often seemed to have a “roommate.” Our mortgage payment was about $500.00 and was manageable with 3 people sharing the “rent.” 🙂 Home ownership was exciting to us as 99% of our friends were at home or renting but it really did feel good to own a home!
Within the next couple of years, the RTC collapse was upon us (the famous”crash”) and I began hearing of some of the deals in the market. (kind of like now?) As I began calling on ads or on signs, I was amazed at how poorly many of the real estate agents worked. None the less, in a few short years, I had purchased two 4-plex properties which basically began my long term plan of investing in real estate. This also gave me the inspiration to begin a career in real estate. I have now been licensed for the past 16 years and feel very fortunate to have been able to help so many people with their real estate decisions. I am able to help, to share in my experiences and it is the biggest pleasure I get out of a business that has been such a joy to me.
Today is 8/8/08, twenty years to the day after my brother and I closed on our first home. The gift we received from our father was not monetary when we bought that first home; it was a gift from a man that has taught us some very valuable lessons and life experiences. Thanks dad, for so many wonderful gifts. They have been priceless.
*Great* story Nick!
8/8/88 was the day my divorce was final. I learned a lot from that experience too. 😉
Thanks Jay! One thing you obviously learned from that day is how to pick a bride. I have met Francy and she is super.
Another thing we have in common is that we have really cool wives. 🙂