As a child I watched without, a complete comprehension of, my fathers implementation of his core ethical and moral values every day. Having been mentored by him, subcontiously, it instilled within me very strong ethical and moral values. These values have caused me many opportunities one particularly successful one worth mentioning is as follows…
After a very difficult divorce proceeding which lasted a couple of years I fell into a very unfamiliar emotion. This emotion which had a hold on me was a state of depression. Not wanting to be in public, staying in dark rooms, unwilling to partake in everyday life. These actions in no way fit my normal personality traits. As a Realtor they were also very detrimental to my business & Income. Late one night while on the computer I decided to find something that would be such a great deal it would compell me to present it to potential investors. As I searched the Multiple Listing Service for some property of value and interest I came across a few. With a small spark it began to manifest itself within me to evaluate these opportunities and settle on, what I believed to be, the very best choice. Once I had made my decision I began the search for a buyer and I presented it to everyone Family, Friends, Investors, even a few strangers. The response I received was, well let’s just say unexpected. Family members thought I had really lost it. Friends chose to distance themself from me and my ideas. Investors couldn’t grasp the value or my reasons for promoting such a property. Disappointment, rejection, and a dampening of my spirit began manifesting itself. Trying to overcome being depressed, broke, and now somewhat of an outcast made me question my core beliefs. Something caused me to change my thought process to, If I believe this is such a great deal why don’t I figure out a way to take advantage of it? An interesting thought for a poor, depressed, outcast Realtor who had very little belief in their own accomplishments, or lack there of. Well needless to say I set out to find funding in order for me to acquire this property. The property was listed for $ 175,000 for 160 acres (which was a screaming deal to me for many reasons) but it was remotely located down many miles of dirt road. While searching out funding a strange thing began to occur, I started to become more alert, alive, and assertive. The energy I was emitting caused one of the Investors (who had no interest in the property) to work out a loan for me. Without thinking about much I was ready to agree to most anything to accomplish my goal of acquiring this property so I agreed to all of their terms. Just as a mention that once everything was said and done the Investor made over 40% return on their money (figured over a year) within 6 months. Many would say that is insane, but this transaction was something I believed in, with all of my experience and knowledge. Here is how it went down, I was trying to borrow 130% of the purchase price in order that I have enough funds to maintain the debt service on the loan until my financial situation improved. Fat chance anyone was going to over fund the deal by that much, so I just kept trying to find someone to lend me the funds. Then shockingly one of the Investors who turned the deal down said they would be willing to consider funding me to make the deal. This investor wasn’t willing to loan as much as I hoped for but was willing to consider loaning 103% of the purchase price. Being a Realtor I would earn a commission, so that would also help. Needless to say the properties listing had expired by the time I acquired a funding agreement. The property had been on the market for over three years, been reduced by over half the original asking price, and now was expired and off the market. After contacting one of the owners/Agent they submitted they would have a discussion with the partners to see if they would consider my offer. Once the sellers agreed to the sale they also reduced the commission to be paid since it was no longer listed. Now I wasn’t able to borrow as much as I needed, and will earn less than expected, while having to pay a great deal more for the funds than I hoped. So where was this deal going to go right? Once the deal was done I had a debt to maintain and maintaining it became a chore. Having an additional bill each month wasn’t something easy to maintain. After four months of struggling I began shopping the property as a potential trade for a large estate home in order to build upon the potential. When I tried to trade the property for $ 1,000,000 toward the purchase of a $ 1,800,000 10,000sq ft hm on 10 acres it was rejected, but the listing agent mentioned my property to the buyers of the estate. The buyers contacted me with some interest in my property, at which time an unsolicited offer came to me for 130% of my purchase price. This offer hadn’t really interested me too much because of all the costs involved I wouldn’t have much of a profit if any. Then the buyers of that estate home called me to discuss their interest, which I immediately submitted I had just received a cash offer from another interested party. Well their interest was such that they were willing to meet with me to negotiate a figure. After a couple of weeks of negotiation that figure became over 400% of the origional purchase price. Yes, I agreed and ended up selling that property for a very nice profit all within 6 months time. The Investor, who had borrowed the funds against their own home to loan me the funds made a profit of 34% on borrowed money while I made over 290% on borrowed money. So with none of our own funds within 6 months we both made nice returns and it gave me a new outlook on life. There is a lot more to this story, but I tried to keep it somewhat brief. Not being a writer I hope this story was conveyed in an appealing way.

Frank Kern Internet Marketing

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