Just a nice story once asked Robert Kiyosaki for luck. He replied that he worked ...
Just a nice story
Once asked Robert Kiyosaki for luck. He replied that he worked hard to be in the right place and at the right time when luck came. I always hated deals I had, evaded and someone else managed them. But sometimes it works the other way around, you are the smug side. The thing is, you have to work hard to be there when it happens. And some luck too.
As part of the endless searching for the next deal, I contacted a nice older couple in Georgia in early 2012 who owned 3 Families in Brooklyn. The building was empty, in a bad condition and in the process of receivership. Best Case Sanrio for anyone looking for a property to renovate. A house in such a situation, it is a question of whether the seller will sell, but only when, and as an investor you want to be in the right place and at the right time. So communicate, ask and continue to be in touch with the long-awaited day in which your real estate fantasies and needs and desires meet on the timeline. Just as the timeline was messy, I was late and although the relationship was pleasant and positive they informed me that they had already signed a contract, were waiting for bank approval and as soon as they arrived they would be coming to New York to close. The deal went. seemingly. If it was really gone I would be sitting here in a bored Ben Gurion Airport, with nothing to write about and wait for boarding, so we will redefine: at that moment the deal seemed to be going.
But it was me, so I kept calling them. "How are you? How do you feel? ”Receives a light update that the deal continues satisfactorily and then wishes them good luck but makes sure to add“ If something happens you will remember that I am here and I am interested ”. That is a month like this for six months.
The sixth month is coming. The day of the call is coming. Calling and they loudly tell me that they are coming to the city for closing this weekend. I was really happy for them. Such an asset to an elderly couple is a lot of stress and agony, so I wished them good luck but I remembered Inigo Montoya's immortal words and added "My name is Tal Levy, you sell my property if something happens to call" (about…) and hung up.
Friday has arrived. Closing day. For me, a normal day at the office, nothing special and then a phone. Identifies the number of the property owner. Hoopa Hoopa. If he calls me on the closing day something is wrong. So I answered. “Are you in the office? Half an hour we arrive. " No details, not what happened. is nothing. Waiting for them to come and eat curiosity.
Sometimes you need luck. Sometimes people get lucky with their laziness, lack of seriousness and many times their stinginess too. Don't be lazy, not serious and stingy. We will continue.
From fortune to fortune, they come from an office, a couple in the XNUMXs that drove Georgia from New York to closing. Driving is not short and not easy for a couple their age. In your hand hold a bag full of paper, pour it on my desk and say "Tell if you want the deal is yours". I was surprised and happy at the same time. "What happened?" I asked and they told them there was a closure (after six months of waiting I mention) arrived at the office sitting in the waiting room for three hours and then it turned out that there was no closure and it is not at all clear if the guy who worked with them did anything to get the bank clearance, and why For them to arrive. Of course, they were very angry. I'm sure some of you sound weird, but to Jajah clients, to wrinkle the truth (I got a bead) and other such practices are more common than you think. But they would not swallow it, broke the dishes and reached me.
I reassured them, promised that the story would not be repeated and sent them home. In the coming days, we let the lawyers prepare the necessary paperwork, send them to sign and deal on the way. Since the deal came after the mess I described it was important to be careful here, so we submitted the contract to the city listing. why is it important? Although in most cases, contracts are not registered, if there is a problem and the transaction comes to court, along with registering there is a clear advantage. It gives him primacy on the deal. In retrospect it turned out to be an important detail, but experience and forward thinking is what made the difference.
Time passed, the deal was made and we purchased the property. The sellers were happy that the yoke had finally come down and I got the permanent hug. Almost the end of the story. But then a phone. On the other line is a guy we work with, a lot of business and a lot of money involved, so you have to relate and keep relationships. Tells us that his acquaintance was involved in the deal before us, he is the one who lost it, he is very disappointed and asked to meet with us for a desks compensation. We agreed. Relationships nonetheless.
The day came. The office came in a nice guy and told them that they offered him the deal a few months ago as the buyer, even there money, but the guys who sold him did nothing about it. Take out the paperwork and it turns out he bought the Deed. I won't go into it here, but I would add that it meant that he was actually the owner of the property, only that he had never registered with the city. It's not official. Why didn't he perform? It is not clear. Who has primacy? You guessed it, us. It is to his credit that he understood the position he was in and asked for only $ 10 in compensation, part of the money he invested. We did cold thinking and agreed. Relationships with his acquaintance and avoiding a court are worth much more than that.
The property on Hancock Street in Brooklyn was purchased for 225 $ 1,000 in addition to the 10 $ thousands we paid. The days are the days when the market started to ramp up. It was renovated and sold at what was then the peak price in the region, $ 50 million. Two years later sold again for 1.7 million.
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Not just a very nice story! Exact story! Be in the right place and at the right time when luck comes!