Monday, September 13, 2010

On Persistence

I am constantly surprised by how many things I should not be able to do. Life can feel like a giant obstacle course at times. Not only do you contend with serious obstacles that boggle your mind and test your courage, the course itself seems lined with spectators screaming out reasons why you should fail. It is very hard to face the obstacles while turning a deaf ear to the counselors of doubt. It is easy to listen to reasons why you can’t, why you shouldn’t, and why you will fail.                
                My latest run in with the counselors of doubt has been in the realm of buying a house. The old American dream of land ownership is awash with fears and doubts. Lenders are fearful of lending and buyers are fearful of buying. There are many complex reasons for this and not all of them bad in the least. While it’s not my intention to explain the housing market, I do want to explain the waters I find myself sailing through; they are not calm seas.     
                After reading The Intelligent Investor by Benjamin Graham I have been on the constant look out for value. With fear griping the housing market, I believe I have found value in a $135,000 home. It looks like the home we could live in for the next thirty years and pay off in ten.  An opportunity has presented itself, and so have the obstacles.
                My bank of at least eight years would gladly approve a loan of $100,000 dollars and not a penny more. I was told I simply don’t have enough income to warrant a bigger loan. I could have left it at that and given up on the opportunity I was seeking, but I decided to try my luck elsewhere.  I was given the number of a great mortgage broker who went by the name Bob.  After a few pleasant and informative phone calls, Bob, as helpful as he was, explained he could easily get me more than $135,000, but I needed at least six months at my current job; I had one month. He told me six months was not that long to wait.  Once again I could have walked away saying that I had tried my best. I contacted a third mortgage broker. He was also named Bob. He was slow to return email and phone calls and had nowhere near the charisma of the first Bob. What he did have was an underwriter who was willing to pre-approve me for a loan. After about a month and a half of, “No, it can’t be done,”  I made an offer on the house today.  
 I know there are hundreds of ways for this deal could go south, but there is one way it could go through—persistence. Persistence is a virtue I will teach my sons. It may be out of fashion in our fifteen minutes of fame culture but it is a virtue all the same. I would not have a shot at this opportunity if I were less stubborn.  I would not have any sons to teach if I had been less persistent in the courtship of my wife. I could never have courted my wife if I had not been persistent in my duties as a soldier.  All my life I have heard plenty of reasons why things won’t work out.  In the end most of those reasons are just more obstacles for those of us who like a good challenge.                         
                    

3 comments:

  1. Wuhoo! That's great that you're able to make an offer. We'll be praying it goes through easily and closes quickly, if this is the house God has for you. I appreciate that you so often are able to maintain your persistence without falling into the other ditch of stubbornness. Persistence has definitely been your friend so far - here's hoping it pays again! :)

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  2. Thanks we are very excited, I think this is a great opportunity. I think it could really set us up in ten or fifteen years.

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  3. Really great life lesson. Thanks for sharing, and my prayers are with you and the missus.

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