A Minute for Parents

Summary

Kindness and Compassion Coupled With Honesty

Article

By JoAnn Hibbert Hamilton

My husband passed away leaving me with eight children, some insurance money and instructions to buy rental units. I was concerned. I had no experience in real estate or apartment management. Understanding my inexperience and very likely my reticence in getting involved with rental property, my husband told me to read a book by Mark Haroldson that he had marked up and then purchase property.

He knew I had bad health. He knew I had limited funds to invest. He knew I would be scared to invest a large amount of money and he was well aware of my inexperience and cautious nature. He told me that if I hadn’t purchased something by the end of six months, I should purchase anything I was looking at. Since I really didn’t have any better ideas and since I trusted his advice, I decided to follow it.

I read the book my husband left me and spent five months looking at apartments, vacation property and commercial income property, each time coming back to Sherm’s recommendation to purchase apartments. One Friday I was with a realtor as we drove past a white brick six-plex. I noticed it and just felt that I should purchase it. I asked the realtor to stop, and I said, “I think I would like that building.” She smiled and replied, “It’s not for sale.” My reply: “Let’s see who owns it.”

We knocked on a door and found that Wayne Redd owned the building. I asked the realtor to make an offer. She laughed because the building wasn’t for sale, but she said she would do so. The next morning she called and said, “I talked to the owner and it’s just not for sale.” I raised the offer slightly. Knowing now what I know about real estate, the raise I offered was miniscule. I prayed about that property. I asked God to soften the heart of the man who owned it so he would sell it to me.

On Monday morning the realtor called me. My offer was accepted. Later I found that Wayne Redd had felt uncomfortable throughout the weekend. He felt like he should sell me the property.

I remember the day I signed the papers. My hand shook, but it was later when I learned more about property and real estate that I learned of the “compassion and kindness and honesty” that had been extended to me. Wayne Redd knew no bank would give a widow with eight children and no income a loan, so on his own he made arrangements for me to assume his loan. I didn’t do anything to make that happen. He sold for a price that was fair. He took care of the title company and the contract was more than fair. The building was in good condition. No one representing me checked the papers. He could have taken advantage of me in many ways but instead reached out to protect and help me. I saw his obituary in the September 22, 2009 Clipper and would pay tribute to an honest and kind man.

Mr. Jon Hunstman, Sr. made an agreement in 1986 to sell 40% of a division of his company for $54 million. The deal was sealed with a handshake. Six months passed and during that time the price of raw materials had decreased substantially and so it was then worth $250 million. Jon Hunstman refused to take extra money because of the handshake agreement. He accepted $54 million (Jon M. Huntsman, Winners Never Cheat, p. 82).

Hopefully telling our children/teens about honest dealings that others make will encourage them to stand up and be honest in a world that often compromises.