It’s such a rewarding experience for me to work with young people on finding them a home and closing the deal. I had the honor of working with a young business professional in my community to help find her a home. The reason I say it’s rewarding is because sometimes young people don’t understand the importance of buying a home until later down the line. Years later they can look back and feel great that they did make the decision in their younger years.
Clients are young and they go after “The American Dream.” They get married, aim for the house with the white picket fence, the dog named Spot, and two cars. My client decided to take another approach. After speaking with her financial advisor, he told her instead of purchasing a single family, condominium or townhouse, why not buy a duplex? He told her that she can stay in one side and rent out the next unit. The next unit will pay the mortgage and you are living rent free. I call that a “slam dunk.”
Through the process, sometimes she was not a happy camper. She got upset for the going back and forward with the seller, the mortgage company with the numbers and even me. She shared with me – she was not mad at the people. She was upset about the situation because she would hear one thing and then five minutes later she would hear a different story. I understood her pain because she does not deal with buying a house every day.
Working with this client, I liked her as a person. She was great working with and I did my best to make sure that everything was working on her behalf. I told her our relationship was like a marriage. We could get mad but we have to make up. In the end, we were able to overcome the hurdles and close the deal.
She did tell me thank you and that she was glad she did not give up or cancel the deal. I also told her that even though it seemed like it was a mess but in reality it wasn’t. Imagine having your furniture outside in a moving truck at the title company and the deal can’t close.
I wish someone would have told me to buy real estate when I was younger. Even before I got in the real estate business; back in the early 90’s, I would see pre-construction going up and I would put money down and not go through because I was afraid. I lost probably quite a bit of money. My client told me the funny part about it with her is that she is not thinking about letting money work for her. I said to her, “later down the line you will see how it will benefit you and you will be glad you made the decision on buying a duplex for 1st property.