Apr
29

Is Your Morality Keeping You from Real Estate Riches

Filed Under Real Estate Investing 


Before I get into today’s message, let me tell you that I am a very spiritual person. Whether one believes in religion or not, we are all seeking something better in life. Your beliefs matter, not the wisdom of this message and how it can help you in your real estate business.

Many of my friends get a kick out of my blog and newsletters because of the exciting headlines, our boldly named website, www.KickAssRealEstate.com, and how that contrasts with the person they know me to be — rather quiet and preferring anonymity. But they also know I’m a businessman.

Let’s start with an ancient proverb:

FlowerThe wise and moral man
Shines like a fire on a hilltop,
Making money like the bee,
Who does not hurt the flower.
-The Pali Canon (500-250 B.C.E)

In this proverb, Pali is telling of the wise and moral man who shines like a beacon and prospers in the same way as the bee with its relationship to the flower. Bees make money (honey) by working with the flower and the flower is not harmed, but helped in the exchange. Real estate is the same way. By helping people we are able to prosper.

As an example, a few years ago I purchased a house from an elderly couple. The husband was in very poor health. They had no mortgage and owned the house free and clear. The house was a rental in terrible condition with less-than-desirable tenants who wanted to prevent any sale from taking place. I dealt with and resolved every problem. To make the seller’s life easier, I even arranged for the title company to bring the paperwork and a notary to the seller’s home so the husband would not have to go through the physical ordeal of going to the title company.

The sellers knew the home was being sold below market and were happy with the sales price. Their priority was spending the time they had remaining together. I made the transaction as easy as possible for them. After I bought the house and evicted the tenant, we found extensive “new” damage to the property, including concrete-like material poured into the drain lines. Not once did I complain to the seller or even tell them what happened. I’m sure they would have corrected any damages, but I thought it was more important to not disturb them. (As it turned out, I sold the house using the Work For Equity System, http://workforequitypro.com/, and didn’t have to contend with the damage either).

Since then the seller has referred me to a friends and told them they should sell their house to me because I’m fair and hassle-free. No, I didn’t buy their friend’s house, but you can’t buy them all.

A year or two later he seller called me to discuss my buying her personal residence. Unfortunately her husband passed away wanted to move across town to be closer to family. I told her we can do whatever she wants and I could even help get her a moving truck and that she could leave behind anything in the house she no longer wants or needs.

You always hope to buy the house, but it really does not matter because like the bee, I make my money when I help the flowers. And, I’ve found it is a lot easier to have things come to you when you are the beacon then it is to chase after them. Do you understand the difference? It’s not a quick fix but a way of life and best in the long run.

Author: Gerald Romine

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