The Power of Teamwork

Happy New Year!!


I'm going to post today about a success story. It's a story about teamwork. About the power of teamwork. About a common goal. A vision. A story about partners vs. competitors. A story about changing lives. About doing good. About helping people. A story that's a good way to start a new year. At the end of my last post I talked about making a difference in the hypothetical. Today I'm going to talk about making a difference in the actual.

A few weeks ago a fellow member of the REIA of Macomb (REIA stands for Real Estate Investors Association - Click here to check out the REIA of Macomb site) posted a message on the group's Forum. She knew of a couple that were looking for a place to live. They're young, she said, and don't have a lot of money. They're good people, she said, and they need a break. Could anyone help them find a place, she asked, and, by the way, they need to move in around the first of the year.

I was taken at first by Tina's post because it fit exactly the strategy of BPS Property Solutions - find people that need a place and help them find it. Rent it, lease option it, whatever. As I thought more about the post, though, I was taken by Tina's desire - drive really - to help this couple.

It turns out the girl (who shall remain nameless) is the daughter of one of Tina's close friends. They were being forced out of their current place and needed a new place as soon as possible. Being young, they don't have a well established credit profile. They don't have a big down payment. They do have the desire to own their own home. This is the perfect scenario for a lease option. I was in. I contacted Tina as fast as I could and told her I would try to help find a place for her friend's daughter. I knew it would be a challenge - find a place, get it under contract, get it closed, do repairs and get them moved in, all inside of a month or so and for less than $650 a month during the holidays. But I was taken by Tina's drive and I was in (refer to my prior post titled What Are You WIlling To Do?).

As Tina and I met with them and looked at a couple of houses, we learned that they had looked at a house in a local community and tried to buy it outright on their own. They were unable to get the financing secured because of their short - and sketchy - credit profile and undocumentable income from tips and seasonal work. We continued to look for houses that met their criteria - thankfully they were realistic about their expectations and what they would get for the payment they can afford.

The house they tried to buy stuck in my brain. I found what I thought was the same house still listed and made an offer in the price range that would get them the payment they were looking for. I really didn't know that it was the right house, but it looked decent and fit their criteria so I was hopeful. Tina and I kept finding listings and looking at houses. Let me tell you that $25,000 won't get you many houses in move in condition - at least not in areas where a young couple would feel safe - and we needed a house in move in condition because of the short time frame. For $25 grand you can get a lot of "project" houses, you can get every kind of mold imagineable, you can get some pretty funky stuff.

I kept thinking about the house and believing that it would happen. As the days went by, though, I started to think that my offer was not just rejected, but ignored. We were closing in on Christmas without a sign of a house for them. I know there's a 'Twas The Night Before Christmas parody in there somewhere.

On December 26th, I got a call from my realtor saying that the bank had countered my offer and that she had accepted their counter on my behalf. I gulped, took a deep breath and asked what their counter was (I wanted the house, but it had to be at the right price in order for them to be able to make the payments). The house was listed at $39,900. My offer was $25,000 and the bank's counter was $26,000!! Or, wait, did she say $36,000? I asked her to repeat what she just said - I thought she meant $36,000 and I was ready to fire her! No, I heard correctly, $26,000. I called Tina and told her the good news.

There was this nagging thought in the back of my head - what if this wasn't the house? It was still a good house, but what if it wasn't the house they really wanted? I started feeling less happy and more worried - I had got this house without me or them ever seeing it. What if they didn't like it? What if? What if? What if? I knew the house was in great shape because Tina had looked at it while I was out of town. I knew it was a good deal. But, what if?

Well, we had the inspection on New Year's Eve and, guess what? It is the right house. It is in great shape. It is just what they wanted. A couple of finishing touches and a minor furnace repair are all that's needed. We are scheduled to close in mid January. By the way, they were trying to buy this house for more than the listing price!

I know there's a lot of painful little details in my recounting. I know it sounds like I'm boasting or bragging or looking for glory. My intention is not to sound boastful. Actually, that's exactly my intention. Not me boasting about me, but about what you can do when you put your mind to it. About what you can do when you have a great team. About what you can do with a common purpose and a vision. What you can do when your goal is to help people. What you can do when you put your ego behind you and your heart in front of you. Yes, I am boasting about what Tina and I accomplished. Not for my ego and not for Tina's. Not for glory. Not to be heroes. To show you that real people have the power to make a difference.

Tina and I are teammates in this deal. In another deal, or another house, we might be competing for ourselves, but in this deal we are teammates. In another deal, or another house, there will be an understanding that we do business the same way. The only way. With the same purpose and vision. And competitors or not, we'll each be just as happy to see the other "win". We will always know that what we did together changed 4 lives over this holiday season - hers, mine and two young people starting out the new year fresh. I think a quote from Tina's friend's daughter says it all, "From the moment we looked in windows of this house we knew this was the house we wanted". And now, they have it. Thanks to the power of teamwork. And thanks to Tina having the drive to make it happen and help people.

Until next time. Make It Happen - whatever IT is in your life.