Mary Anne had more than enough money to invest in the project Mark told her about. She got a lot of money from the insurance company after Jerry died. In addition, since she was an only child, she inherited her parent’s entire estate when they passed away. Mary Anne was still working and thus didn’t touch the insurance money or her inheritance.
Yet, she had no experience investing in real estate. She always invested very conservatively as she was afraid of losing money. She never invested in stocks as she felt they were too risky, even after Jackie made a fortune in the stock market. The last thing she wanted was to be financially dependent on her children.
However, Jackie’s enthusiasm for investing rubbed off on her and she thought maybe this project would be a good idea. Mary Anne googled the company that was building the condos. She found out they have projects all over North America. She also learned they have an excellent reputation. She decided she would invest in one of their condos after she read more about the company and consulted with a real estate investor she knew and trusted.
She didn’t want to say anything about her decision to her children as she didn’t want them to talk her out of it. Therefore, she shared her plan with Jackie who showed interest in it as well. After deliberating for a while, she told Mark both of them were interested in purchasing condos and asked for his help.
Mark told her that he knows the owner of the company very well, but he wasn’t sure if there were any condos available for purchase. He said that even if there were, they would be paying a higher price than he did for his unit as they had already started construction. Mark added that the apartments sell out very quickly for projects like this one. But he promised to speak with the owner and see if anything was still for sale, as well as the price.
Mary Anne was very happy to hear this especially since Mark had so much knowledge in the real estate field. She updated Jackie, who told her she didn’t know much about real estate but trusted that Mary Anne was thorough and checked all the small details.
A few days later, Mark called and said he spoke with someone high up in the company. He was told there were 3 condos left and he has to speak with the owner if he wants a better price. Mark had already booked a telephone appointment with him and was sure he could arrange a good price for her. In fact, they were supposed to talk later that evening.
A couple of hours later the owner’s secretary called and put through his call to Mark. They immediately started talking about the real estate market, some projects they were working on, as well as new investment opportunities. It seemed as though they knew each other quite well.
Mark brought up the topic of the condo project in Victoria. He then put the call on speaker and mentioned his girlfriend Mary Anne and her friend Jackie, who both wanted to purchase a condo. He asked him to reduce the price so that they would pay the same as before the concrete foundation had been poured. The owner didn’t hesitate. He told Mark they have known each other a long time and he’s more than happy to sell them condos at a lower price.
However, the ladies had a provide a down payment of at least 30% of the total cost within the next few days. Mark looked at Mary Anne who nodded OK and the owner said he would put them in touch with his secretary who would fill them in on the other details. A few hours later Mary Anne and Jackie transferred the money and were both thrilled. Mark took both of them to the job site to see for themselves how the project was progressing.
Mary Anne and Jackie were required to make additional payments as the project moved forward. Mary Anne didn’t want to say anything to her children until the condo was ready to rent. She also realized that it cost her much more than she thought it would.
Although they were in a relationship, Mary Anne and Mark continued to attend events at the club. Therefore, when the club’s management announced they were organizing a 2 week cruise to Alaska, they quickly registered for it and made deposits. Mary Anne was excited as this was the first trip they were taking together outside of Canada.
But unfortunately, a few days before their departure, Mark told her he couldn’t go as one of his children was sick and he needed to stay in Victoria. Mary Anne was disappointed but decided to go on the cruise anyway. Even though she missed Mark, she enjoyed herself and had a great time………
With Experience Comes Wisdom 