When I was young, I loved to play chess with my dad. He taught me the importance of strategy, plotting out moves and counter moves, anticipating what the other party might do. I didn’t know it at the time, but he was preparing me for life. My father worked in real estate since I was a child. He was actually a broker, he knew there was a correlation between his work and chess.
At 18, I had graduated from Bishop Gorman High School and wasn’t sure what was next for me. My dad suggested I go to real estate school and get licensed. It was a natural progression for me, I was excited about getting into the “family” business. Afterall, I had grown up hearing about the real estate projects my dad was involved in. I got my license that same year, becoming one of the youngest agents in Vegas. The beginning was tough. My age was the ultimate disadvantage. Despite my background, people didn't want to take a risk with an agent they viewed as a kid. And I was a kid. It wasn’t until I was 21 that I really found my footing. I was working more than 12 hours a day, but it paid off.
I wasn’t prepared for how quickly business picked up. As my success grew, I was moved from shared work space to a cubicle to a shared office and finally to a private office. I became intensely overwhelmed and knew I needed help. This is when I began to grow a team to support the workload and vision I was creating. My high school sweetheart turned wife, Joy, even joined the cause, getting licensed herself. She was excellent at delegation and knew just how to parse out the work. Her dedication was astounding. When she was nine months pregnant, she kept a cot in her office to rest without leaving work! We were so busy, managing a team of 18 agents, working on condo developments, strip projects and land development deals not to mention managing properties of our own. Everything was going great, and it seemed like it would last forever.
Then 2007 rolled around, and the market crashed. It was shattering. We feared we’d lose everything we’d built together. Agents were dropping like flies. We lost 15 agents in six months. They couldn’t survive the sudden loss of business, and I worried we’d face the same fate. The booming business we had enjoyed was vanishing into thin air. Developments that were at the core of our business were at the mercy of the crumbling financial system. We were sure our personal investments would be next.
And we had only just started a family.
Feeling beaten down, we were forced to make some tough decisions. Despite our disappointments, this was also a time of great happiness. Joy was stepping away from the business because our children needed her at home. The world seemed to be burning down outside, but I came home to my sanctuary every evening.
In a business that puts such emphasis on credit worthiness, being forced to make difficult decisions that impacted our finances was an extremely emotional undertaking. However; it eventually turned out to be a blessing in disguise. We were able to execute a plan that kept us financially whole while learning a great deal in the process. Though the experience was an emotional roller coaster we received an invaluable education on legal strategies and estate planning.
When the economy turned around a few years later, I realized how much I appreciated spending time with my family. I knew I could find success without working those insanely long hours. I was working as hard as I could for my family, but I still wanted to spend time with them as well.
Today, grandpa is carrying on the tradition and teaching my kids chess. But I prefer to play “The Fast Dealing Property Trading Game” of Monopoly! They think we are just playing a game but I know they are learning how to negotiate, make moves and counter moves. They don’t always enjoy playing with me, they hate being out maneuvered. Apparently, I’m very skilled at it. I think I know where I picked that up. It’s a little thing that represents home and family to me.
