The Big Reward for Patience
Thirty years ago I was a logging contractor in Northern California. We specialized in logging small properties and properties that were isolated or had very difficult challenges. Sometimes we bought the property and sometimes we just purchased the timber from the land owner.
In all cases it was up to us to sell the logs and then deliver them to the sawmill that paid the highest price. One morning I was at one of the sawmills meeting with the sawmill owner. He knew that we, many times found and purchased land with timber on it. He said: "Paul there is a sixty acre parcel not far from here. The property is surrounded by government land. I am personally interested in the parcel to build a family retreat on it. I have written several letters to the owners, but have never received a reply. If you are interested in helping me acquire this property I will pay you $10,000 if you are I am able to purchase the property." I told him a would be most happy to try and help him acquire the property. This was 1975. I wasn't yet 30 years old and had only been in business a couple of years. $10,000 then was like $50,000 now. I was very excited about this opportunity.
I went to the County Courthouse and looked up the owner's name and address. They lived about three hours drive away. My plan was to drive over to their house and knock on the door without calling or writing first. I arrived about 6:00p.m.. If they weren't home I would spend the night at a motel and try the next day.
During the three hour drive I reviewed in my mind how I should approach the owners, if they were home. After putting my final thoughts together I took a deep breath and knocked on the door. The door opened. The man answering the door said: "Hello, What can I do for you". I introduced myself and asked if I could talk to he and his wife about their property they owned in the next county. He invited me in. After sitting down I told the he and his wife I represented a potential buyer of their property. The lady said: "That property was my dad's. He homesteaded the land from the U.S. Government over 50 years ago. Dad died last year." She then said the line I didn't want to hear. "We are not interested in selling the land."
What to do next? As you might guess I really wanted the $10,000. I deceided this was probaly a very emotional issue for them. So I said: "I understand. Would you be interested in knowing how much the person I represent is willing to pay? She said: "Sure". I said $60,000. She said that was a lot of money but they were not interested in selling.
I thanked them for visiting with me. Next I wrote my name, address and phone number on a piece of paper and asked them to please get ahold of me if they changed their mind.
Driving back home I though to myself: It wasn't meant to be - I tried.
One and a half years later I received a letter in the mail from a strange city --- their city! It said if my buyer was still interested they had deceided to sell! I visited with the mill owner to see if he was still interested and if our deal was still on. He said yes. Two weeks later I had $10,000!
If I tried to pressure the owners into selling they may not have written me.
Principle: Patience
In all cases it was up to us to sell the logs and then deliver them to the sawmill that paid the highest price. One morning I was at one of the sawmills meeting with the sawmill owner. He knew that we, many times found and purchased land with timber on it. He said: "Paul there is a sixty acre parcel not far from here. The property is surrounded by government land. I am personally interested in the parcel to build a family retreat on it. I have written several letters to the owners, but have never received a reply. If you are interested in helping me acquire this property I will pay you $10,000 if you are I am able to purchase the property." I told him a would be most happy to try and help him acquire the property. This was 1975. I wasn't yet 30 years old and had only been in business a couple of years. $10,000 then was like $50,000 now. I was very excited about this opportunity.
I went to the County Courthouse and looked up the owner's name and address. They lived about three hours drive away. My plan was to drive over to their house and knock on the door without calling or writing first. I arrived about 6:00p.m.. If they weren't home I would spend the night at a motel and try the next day.
During the three hour drive I reviewed in my mind how I should approach the owners, if they were home. After putting my final thoughts together I took a deep breath and knocked on the door. The door opened. The man answering the door said: "Hello, What can I do for you". I introduced myself and asked if I could talk to he and his wife about their property they owned in the next county. He invited me in. After sitting down I told the he and his wife I represented a potential buyer of their property. The lady said: "That property was my dad's. He homesteaded the land from the U.S. Government over 50 years ago. Dad died last year." She then said the line I didn't want to hear. "We are not interested in selling the land."
What to do next? As you might guess I really wanted the $10,000. I deceided this was probaly a very emotional issue for them. So I said: "I understand. Would you be interested in knowing how much the person I represent is willing to pay? She said: "Sure". I said $60,000. She said that was a lot of money but they were not interested in selling.
I thanked them for visiting with me. Next I wrote my name, address and phone number on a piece of paper and asked them to please get ahold of me if they changed their mind.
Driving back home I though to myself: It wasn't meant to be - I tried.
One and a half years later I received a letter in the mail from a strange city --- their city! It said if my buyer was still interested they had deceided to sell! I visited with the mill owner to see if he was still interested and if our deal was still on. He said yes. Two weeks later I had $10,000!
If I tried to pressure the owners into selling they may not have written me.
Principle: Patience
posted by Paul Edgren at 2:34 PM
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