I was just thinking about a few deals that I closed in the past couple of weeks and how they came about. If you are familiar with the book "The Secret" than you will love this, if not you may want to check it out, it is a great book, easy to read and to apply in your daily life.
First, I decided that I wanted to get a new boat, I have always loved fishing and chartered often. I researched and determined what I could afford and what I really wanted in a boat, size, age, amenities, etc, and determined that I wanted a 1996 or so 48 foot Ocean Yacht. I pasted a photo of the new boat on my wall and made it my background on my computer, etc. People would ask if I got a new boat, and I would explain that no this is going to be my new boat, they would ask when, and I would explain that I dont' know when or how it will come about but I know that it will, maybe in a week maybe in a year or two or ??
Well shortly thereafter I ran into a friend that is a Yacht Broker at a fishing tournament and he was on the same boat at Bohicket Marina, and he gave me a tour. I told him that I was going to buy this same exact boat one day. A week or so goes by and he calls and says he found one, I explained that the only way I could buy it now was if the seller would trade for real estate. Well that boat did not work out, but through that connection I was able to locate a boat where the seller (a friend of my brother's) would trade for real estate.
We worked out a deal, all I needed to do was sell my boat, the WerTannin a 37 foot Searay that I have had for a little over 5 years. The first person I talked to about it said they would love to buy it.......but.....they would need me to take real estate for trade.
So, we worked out a deal, and in the end, last Wednesday I became the proud owner, with my friend Mike Smith of Top Pryority (thinking of changing the name) a 48 foot Ocean Yacht Sportfishing boat and also I traded my boat for a 1/2 acre of vacant land in Summerville on a main thoroughfare that I now have for sale for more than I wanted for the boat in the first place.
A win win situation. I think that this is a great way to make things happen in this market in Charleston where the homes are selling but at much slower pace. Many times people are looking to sell and buy a larger home, well maybe they should see if they can trade it to a seller that knows it is easier to sell a less expensive home (or maybe they could even rent it out until the market rebounds?), either way they would get out of that large mortgage and be able to move on with their lives and enjoy their new home in the process. Just an idea, but I think one that would and could work with open minded people.
Write your thoughts back if you have any interest of comments that are relevant, take care, David Wertan
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