THE ABC OF SMART
"Working smart is doing simple things which few others think to do." - JTR
Arnie Smart has capital but nowhere to live. No worry. He borrows a little more money and buys a house. Now he has no money but does have a roof over his head. He also has some debt, the responsibility of ownership and the costs involved.
His brother Bert has no capital and also needs a place to live. He can’t buy a property and has no wish to incur debt by way of a mortgage - but he is able to rent. He explains to Arnie that he may not own the property in which he lives but neither does he incur the responsibility of ownership. He has no debt and can vacate the place any time he chooses. He has flexibility.
“I enjoy all the benefits you do Arnie but none of the liabilities,” brags Bert.
“Aahh,” says Arnie, “But I own a real asset and you could lose your place at short notice.”
“Fair do,” says Bert. “But why not rent like I do, keep your cash and/or invest the money in a liquid asset, company stock for instance, and enjoy the benefits of all worlds? You have a home, an investment, no debt, minimum responsibility and flexibility too!”
“Too true,” chips in Charlie, the third brother. “At very least buy a smaller house Arnie so you’ve no need to borrow. Any debt is a bad idea.”
Arnie nodded in reluctant agreement.
“And you Bert," added Charlie, "Why are you paying rent when you could enjoy the benefits you’ve listed but at no cost?”
“What?!” spluttered Bert, “Are you mad, completely off your trolley?”
“Not at all,” replied Charlie with quiet assurance, “On the contrary, I just think smart.”
Charlie in fact, didn’t just think smart, he lived smart. He enjoyed the comfort of a nicer house than either of his brothers, he didn't own it, he had no debt nor rent to pay, he had cash in the bank, stock investments too and no responsibilities. All the benefits of a good home and happy life with none of the downsides. So how did he do it?
His magic solution started with mindset, attitude. He first determined that he absolutely should have all the things listed and none of the responsibilities - that would be the case, no exception. He then devised a plan as to how to make it come about. His first conclusion was simple. He wrote down -
“Locate suitable vacant properties.”
Then he added,
“Meet with property owners, spend time with them, get to know them and they to know me; find those whose situations might incline them towards the deal I want.”
He then went on,
“The process will take time and patience. The objective is to first have them know, like and trust me and from there to wanting to work with me as opposed to renting their property to a stranger they don’t know. Find which of my skills and abilities I could supply to the proprietor as part of the arrangement.”
“There you have it guys, that’s how I did it,” concluded Charlie. “You see, easy-peasie, lemon squeezie. The owner I found was not so much interested in rental income as they were concerned that their property would be in good hands. Once I recognised and plugged into that sentiment, then the rest was plain sailing. I effectively became a guardian rather than a tenant and a friend and confidante too. Everyone won!”
Arnie and Bert were drop-jawed, speechless. They listened in silence; initial amazement slowly turning to impressed appreciation. How could they be anything less? Their brother had just treated them to the ultimate revelation of what it takes to be smart, not just as in Arnie, Bert and Charlie Smart, but in the deepest sense of smart.
“So that,” quipped Charlie with a final flourish, “Is my ABC of Smart. Think it, live it. Capitalise on the fact that few others will.”
I am Tom Riach. I live and write in the sunny south of Portugal.
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'THE A-B-C OF SMART' is an original copyright Tom Riach feature.
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Comments
What you share is so true! I happened to be 'in the business', so I have seen property owners rent properties for almost nothing repeatedly because they 'wanted their property in good hands. I believe the key, as you pointed out, is to take the time to get to know property owners and let them get to know, like, and trust you. Thank you, Tom.
A real life endorsement. Thanks George.