A story about money

An American investment banker was at the pier of a small coastal Greek village when a small boat with just one fisherman docked. Inside the small boat were several large yellow fin tuna.
The American complimented the Greek on the quality of his fish and asked, “How long does it take to catch them?” The Greek replied: “Only a little while.”
The American then asked why didn’t he stay out longer and catch more fish? The Greek said he had enough to support his family’s immediate needs. The American then asked, “But what do you do with the rest of your time?”
The Greek fisherman said, “I sleep late, fish a little, play with my children, take siesta with my wife, Maria, stroll into the village each evening where I sip wine and play cards with my friends, I have a full and busy life.”
The American scoffed, “I am a Harvard MBA and could help you. You should spend more time fishing and with the proceeds, buy a bigger boat with the proceeds from the bigger boat you could buy several boats, eventually you would have a fleet of fishing boats.
Instead of selling your catch to a middleman you would sell directly to the processor, eventually opening your own cannery. You would control the product, processing and distribution.
You would need to leave this small coastal fishing village and move to Athens, then London and eventually New York where you will run your expanding enterprise.”
The Greek fisherman asked, “But, how long will this all take?” To which the American replied, “15-25 years.”
“But what then?” The American laughed and said that’s the best part. “When the time is right you would announce an IPO and sell your company stock to the public and become very rich, you would make millions.”
“Millions … Then what?” The American said, “Then you would retire. Move to a small coastal fishing village where you would sleep late, fish a little, play with your kids, take siesta with your wife, stroll to the village in the evenings where you could sip wine and play cards with your friends.”

One more exam

I haven't got my results yet for Property Law, but my mortgage financing course is this Saturday. I still need to study a bunch, but hopefully I can review a bunch of stuff tomorrow night. From the readings I have done so far, the material doesn't seem to be too bad. I just hope that the last chapters are a little more advanced than I would have expected.

Feather-rented! Again!

My old house at 75 Arlington recently became vacant. The girls that have been living there have subletted since the end of school. So, they gave me the required 2 months notice at the end of July. They also mentioned that the subletters were going to try to take over the lease, but some of them were currently out of town.

After about two weeks, the subletters let me know that they would not be taking the place anymore. Since I didn't have anything signed with them, I had no recourse. Instead, I had to post on Carleton's housing website.

This time, the calls did not come in as feverishly as when I posted 73 Arlington a few months before. The calls did come in eventually, and I met some nice 4th year and grad school girls that were seriously interested in the house. Not wasting any time, I got them to sign a lease and pay up first and last month rent.

Overall, my three properties have had new tenants this year. As stressful as it is, it has meant that I can charge more for rent than I did last year. I now collect an extra $350 a month in rent. It goes a long way into making these properties more affordable. I am even seriously considered doing a major bathroom renovation.

Exam update

I am in the middle of writing three exams which are required for me to continue being a real estate agent. This morning, I saw that I passed my commercial real estate course. I was quite pleased with my results. The week leading up to the exam resulted in a couple of nights at bluesfest, so it goes without saying that my study time was limited. I did really well. I got an 86. A 75 is required to pass.

When I wrote the exam, I wrote beside a girl that has failed multiple times. I don't get it. The exams are pretty easy and it is expensive to have to repeat write. She seemed really outgoing, so she has that going for her as an agent, but it concerns me the number of attempts she is taking with these exams. It certainly is not an accounting level of certification.

Feathersold!

Congrats to Kyle and Suzanne on their recent home purchase! I know many people already knew through facebook, but I usually do not announce "feathersold" until the deal becomes final. There can always be surprises in the home inspection, so I do not like to jinx it. I also have been trying to complete courses I need to maintain my licence.

Anyways, Kyle and Suzanne bought a beautiful single family home just on the outskirts of Richmond. They are now pretty central to their friends, family and work. They will be able to save gas money as they won't need to travel too far to see their friends and family. They will be able to enjoy the country lifestyle, but still have great access to shopping and major routes. Although they bought a very cute home, the real value is in the land they bought. Like they say, location! Location! Location!

Again, I want to thank Kyle and Suzanne for using my services and wish them the best of luck in their new home.

Feather-rented!

The Stittsville house is now rented. I had it listed on the real estate market for sale for about a week and a bit to see what the market was like in Fringewood.

On the Sunday of the open house, I only had one person come by the property to take a look. It was a neighbour. Given the Sunday was the 19th, I was going to try to play it safe by deciding to list the house for rent as well. I figured if I didn't like the house for rent then, I would not be renting the house until August. I didn't want an empty house, so I was luckily able to rent the house almost immediately.

As a result, the house is no longer for sale. It was a quick decision that I had made as I really do not have a good reason to leave the place I am currently living in. I recently signed up to go curling at the Ottawa Curling Club and it will be nice to be within walking distance this winter. I know I shouldn't be writing about the "W" word yet, but I still plan on taking advantage of the summer weather a lot.