March 2021 Emily would become a part of my life. Albeit in a manner related to business since we began communication regarding the rental of my property in the suburbs. 

Any skill or aptitude I possess in terms of property management is self-learned or learned on the job. It was never my intent to even be involved in real estate. I had a full-time and so really real estate would be more of a nuisance.

A hard lesson was learned in 2008 as the US economy took a nose dive with the primary culprit being – ironically, real estate. Only this was done due to overzealous mortgage lenders practically handing out money in bags. If you had a pulse, you qualified for a loan. No checks or balances. No credit checks other than “yeah I see you have a job you’ve held down for 8 months, a checking account and 50 dollars in savings;  so sign here for your $250,000 loan.” Simple, that it was. But it all came crashing down, and hard. There’s more than plenty of sad stories witnessed. Innocent tenants chased out of homes since landlords were not paying mortgages even though tenants were paying rents. Stories of mortgage representatives knocking on doors and asking for the owner. “Is James Smith home?”

Occupier of the house: Uhhh he is the landlord.

Mortgage company: He hasn’t made a mortgage payment in months.

Occupier of the house: Well I pay him rent on time every month.

Mortgage company: You’ll have to leave this property in 30 days since your landlord isn’t paying on this house. We’re starting foreclosure and it’s best you leave.”

Stories like this were common.  Consequently banks were going out of business. It would start to domino in a hurry. With all the banks going out, massive layoffs occurred. People weren’t working. Unemployment escalated. It became ugly in a hurry.  It affected every segment of the economy until it boiled over in the stock market. 

The one positive to all this meltdown was….it created an opportunity. If you sacrificed and saved, soon there would be a chance to make back what was lost. But it would take patience and time. And sweat. And stress. And more stress.

I, like most people, lost half of my life savings in 2008. That isn’t an exaggeration, it really did happen. I can almost feel the tension again of reading my account statement lose half of its value. My stomach turned upside down. And it wasn’t even my fault. I did make myself a promise however. If my retirement would ever find its way back to get within 10% of what I USED TO HAVE, I would immediately sell off all my retirement account and NEVER invest in the stock market again. Those were some dark days. Finally some 24 to 28 long months later, it ever so slowly crept back up. 

Only issue was “where do I invest? I can’t just keep it in a checking account.” I could also go back to investing in the NYSE until the next crash. As if we have a crystal ball to know when that is to occur again. With the market, it’s not a matter of if it will crash again….but when.

I never ran to real estate happily with both hands wide open. Opposite, in fact. So many things to learn. How to buy a house. Then repair it. I don’t even know how to change a door lock. Then of course having to learn a new trade – dealing with personalities. Dealing with people. Dealing with tenants. Oh joy.

I purchased my first property in 2010 in the suburbs. The same house 11 years later that I’m contacting Emily about to see when she would have the time to fill out a lease agreement.

I look for her number Nidal gave me and wonder what Emily’s story is, and why she’s looking for a house. I saw her a couple of years back at the house next door to mine. I wondered why she moved. 

Riiinnngg. Rinngggg “Hmmmm there’s no answer…”

Rinngggg Rinnngggg “Looks like it’s going to voice mail…”

“Hello Emily? Uhmm yeah this is Jules. You’re probably at work so I’ll leave you a voice mail. Got your number from Nidal and well let me give you my number so you can call me at your convenience about maybe renting this house. You can call me anytime at…..”

Upon leaving her a voice mail I think to myself, “maybe back then she was married but divorced, so now she needs a place?”

Minutes later my phone rings….

“Hi this is Emily….”