How I Spent My Summer Vacation
By Claude W. Diamond J.D.

"Claude, Are you crazy ???"

"Why on earth would we want to spend a mid July vacation in, of all places, Arizona ! Isn’t it about 1103⁄4 on the cool days? I will have to Schlep 20 Lbs. of #500 sun block just for the kids. Besides, David* has never even been on an airplane."

I replied in my best submissive, Husband-like voice, " but honey, we can drive up into the mountains, where it is cool. The kids will have a blast and I hear there are some great gift & antique shops" (always mention shops when trying to persuade your spouse). In yet a quieter voice I continued, "besides, I hear there are some Real Estate Opportunities that I want to check out."

"Aha !! So, that’s the real reason! What you really want to do is go out and make Lease Purchase offers like you did in New Jersey at my parent’s house last year**, right ? Why can’t we just take a normal vacation like other families? Why not go someplace where we can wear funny mouse ear hats or get splashed by a whale? Isn’t there anyplace where you won’t think about doing deals for a change ?"

"No" I replied. " I just don’t think such a place exists."

We finally agreed (as we always do), made the necessary reservations, packed about 18 bags of luggage, a cooler, 22 Juicy Juice™ containers and flew into Phoenix, Arizona. I particularly wanted to check out one town for possible future relocation and investment named Prescott (pronounced like biscuit).

We leisurely drove in the desert, gaining higher elevation through towns with names like Payson, Pine and Strawberry. (For those of you who know that Prescott is in the opposite direction from Payson, remember, we were on vacation and wanted some leisure car travel time). The kids were getting tired counting saguaro cacti, but we finally arrived at Prescott. They have a beautiful townsquare with a park minus Bums (excuse me, I meant to say the Politically Correct term, street people) with an old courthouse and a Gazebo in the middle. It is a cross between the Harvard Yard and the OK Corral in Tombstone, AZ.

Across the town square is the famous Whiskey Row, the old western stretch of saloons & brothals which is now a revamped collection of antiques, gift and book shops.

It was now time to put my My plan into motion. I was to deftly obtain the local classifieds and start making calls while Claudia (my Mrs.) was out with the kids aiding the local economy. (I think she bought every post card ever created). I next contacted my friend and reknown Prescott, AZ resident Joe. He gave me the nickle tour of a town that boasted a great climate, clean air, low crime and a large affluent senior citizen population. I always like a large senior population; they are polite, have community pride and I have never been mugged by anyone over 62. Prescott also has modern medical facilities and has a nice commuter airport which provides a 20 minute flight to Phoenix. It all sounded like heaven on earth until I found out that a quarter acre of primo land in Prescott is going for 80 K, Aye Carrumba !!!

* A sneaky Writer/Father’s way of introducing my son David. He is our newly adopted four year old and is learning to say PCF (Positive Cash Flow).

** See Creative Real Estate Magazine - August 1994 Issue.

I began calling some of the local real estate agents to see if there were any Lease Purchase properties available. No one seemed to get excited at my requests, yet upon further investigation I found that this once Bustling Real Estate Market had become overbuilt and was really becoming a Buyers’ market. I knew that Prescott was ready for Lease Purchasing.

We were getting ready to return home, so I figured that it was time to test the waters. I placed an ad in the local paper classifieds, real estate wanted section as follows:
Nice Family needs Rent To Own!!
Executive Style home with acreage
Excellent Credit and References !!!
Call (619)-421-4121

The first Sunday I ran the ad I received 8 phone calls. What could be better than having Sellers of homes call you and offer their property as a potential Lease Purchase? In the worst case scenario, I would have several properties that could be structured as Investment Lease Purchase transactions or develop some local contacts in an area that I am interested in.

Did I make any money this trip ? No quicky deals this time, but not bad for just a few days on the road. I have laid the foundation for some future business or possibly a new home and have made some new friends. Creative Real Estate is usually get rich slow and steady. Lease Purchasing is the vehicle to acquire wealth in this manner.
I will be returning to Prescott before year’s end. Now that my wife knows her way around town, she too, is looking forward to our next venture. She told me that she doesn’t even mind if I do some deals next time!