Tuesday, June 23, 2020

Stuff, handshkes and the new normal

Cars of beauty:

 My first work truck, when I accumulated some money my nephew Ted Darnell painted it for me. It served me well. The first house I built I hauled everything in this truck, did all the work myself.  That was before I learned the lumber yard would deliver at no extra charge. LOL

For Wednesday’s stuff:

I am wondering about this new normal… Now I see notes that read: Say goodbye to handshakes!

That takes me back when I first went into the business of building houses.  I am alone with my attorney in his office after the closing of my 3rd or 4th house the attorney says, “Can I ask you a personal question?”


“I close for a lot of builders, but you are the only one I NEVER find a construction loan against the home. Do you have the money to finance a complete house?”

I laughed, “No sir, I borrow the money from friends and pay them 10% interest. They don’t report it and I just absorb the cost. That way I pay no closing costs and skip the paper work required.”

“Where is the paperwork?”

“I borrow on a HANDSHAKE. The only paperwork is a note in my safe to my wife, should I die, saying I who I owe what to, plus 10% interest.”

“You can’t do that, you need a paper trail.”

He then proceeded to get me in touch with a good hometown banker, I met him and we had a great relationship from there out until we could finance the houses I built without a construction loan. We don’t like owing money to anyone. I had an agreement with my wife, I would NEVER borrow more than we had assets to pay. Sherry is a good money manager. It is nice to have a lover who handles the finances. ;-)

Yes, there was a time that a handshake was as good as a notarized document handled by an attorney.

Life is good, things change and to fit in we must mold to life’s requirements. I am not too sure of this “NEW NORMAL STUFF!”

Nite Shipslog                       


Woody said...

I read with interest on your comments on Paint, Up here we can let paint set and harden up and the Trashpeople will take it, for a 2 dollar fee they will take paint away, they take it to their scrap yard, they collect old mattresses, cut them open and pour the paint in the slits and let it dry then take them to the dump. Finally dropped down from 92 degrees to 55 today, got long pants and a heavy shirt on !!! You 2 take care ! Sending down Love and warm wishs, Gary an Anna Mae

My Tata's Cottage said...

There was a time you could trust folks. Today's world is not so accomodating. My friends in Iowa, he's a CEO and she is a nurse, they purchased his folks home out in the country. Hired a contractor and he split with their money. In Iowa there is no law to protect them. I would love to live without any paper trail especially today when our world is going insane. You were a smart man handling your loans that way.
I love that truck. I always wanted to find a truck like my father-in-law had. It would make the hubby so happy. But we just remember it was an old Dodge model and mint green. SIGH!

Hoping you and Sherry are both doing well. Stay happy! Keep writing! :-)

Mevely317 said...

What an amazing circle of trusted friends, colleagues … and a pretty money manager, too!
I do miss handshakes. Just this morning my eye doctor walked in the room and I had to remind myself not to automatically put out my hand for a shake. The way in which this world is going, I'm loathe to trust anyone outside our immediate family. (Well, I'd make an exception for blogger or two. LOL!)

betty said...

Wise not to borrow more than you have assets for. Sherry should teach a course on money management. We will have to come up with a new way to solidify business transactions instead of handshakes I do believe.


Chatty Crone said...

Jack I love the way you and Sherry lived your life. I think you did good. I am not sure about what will be the new normal myself. Nothing = not just covid - seems normal anymore. :(

I'm mostly known as 'MA' said...

Your post today is very appropriate as it is National Handshake Day. I don't think there is much of anything that can replace them. Just like a good old fashion hug or smile, they are priceless. More and more I'm finding things that we used to take for granted. Not any more, I've learned to appreciate more and more.

Lisa said...

Oh the days when all the trust you needed was in a handshake. I’ve never been a hand shaker but know its common courtesy in business.

One day this will be the good ole days we talk about.