Patience Is Not My Strong Suit

I’m learning patience with each and every day.  Raising four kids, being married and working in the field of real estate investing will humble the average person.  Those three will teach you patience.  I’m not an eager student.  But I’m learning.

Right now I have a deal that was supposed to close last Wednesday.  Maybe it’ll close Monday.  Probably next Wednesday.  I’m a Type A personality.  I think 9:00 means 9:00.  Not around 9:25 or 9:29.  The whole transaction is out of my hands and control right now.  It’s in the underwriter’s hands.

And that’s the problem.  They are seemingly not worried about the property’s value or the qualification of the buyers.  No they are calling me and arguing with me about how KCRAR contracts are filled out.  About whether my signature is in the right place.  They are asking for secondary copies of the Covenants.  They are making crap up to justify their due diligence.  This lending environment sucks.  It encourages busy bodies to look busy.  🙂

But I’m handling it pretty well.  A few years ago I would have had to make another trip to Sprint to get my phone replaced…again.  Now I just mumble under my breath and figuratively bang my head on the wall. 

Here’s hoping that the underwriting department can finally devote 20 straight minutes to reviewing the file on it’s actual merits.  You know:

• The clients with the high 700’s credit score.
• The 20% down plus closing costs paid by the buyer.
• The fact that each property is being purchased at least 10% under market rates.
• The 100% occupancy.

You know, the silly little things.