Learning From Fredrik

Luis explains why he can still learn something from the Lispenard debacle, and why Arthur meant so much to him.

It was very tough not being able to deliver on time for Jasmit, the co-owner of 50 Lispenard -- not because I didn't get the listing (sometimes you win, sometimes you lose), but because I wasn't able to get to the finish line, which to me was getting that one apartment sold. As much as I tried to get a second chance, it didn't work. Jasmit moved on and hired Fredrik. However, I'm very proud of the fact that Jasmit even considered giving me a chance knowing that the building next door was doing so well with Fredrik as the broker. That means that somewhere along the lines, he wanted to believe in me and I'm sure he still does. But it's just business and I understand that. That's good enough for me.

Jasmit hiring Fredrik, presented an extraordinary opportunity for me. Instead of focusing on frustrating myself because of the fact that I wasn't able to get the listing, I have the opportunity to follow the process of what Fredrik is doing with the building I couldn't sell and learn what I missed at first to make sure I don't miss it again the future. I respect what he does and I want to learn how he does it. That's why I invited Fredrik to meet me for a drink. If I am close enough with the process once he's done with the building, it will be like I sold it myself. That's worth more than commissions.

Real Estate doesn't stop. While you're learning from deals you lost here and there you must continue to work on new deals and move forward at all times. In this episode you also follow the story behind the sale of Veronica's apartment at 2 River Terrace, the only condominium in the North Cove of Battery Park City. This neighborhood is very hot; Especially for wealthy families who want to be by the parks and water. I have done plenty of deals in this building in the past, however, none of them have meant as much to me as what this one has. The value of a transaction is not in it's size but on the meaning behind it. Veronica and Arthur have made this deal one that I will never forget. They both became like family to me and because of that, it was important to me that I came back with nothing less than a good deal for her. No matter what I had to do. In the end, I was able to sell the apartment before Veronica left the country. But the best part is that I sold it for a profit in just six months after she purchased in while giving the buyer a great deal as well.

Every deal in real estate has a story and every story has its characters. I fell in love with Arthur and I'm glad I was able to bring him on board for him to be a part of it. I sure will miss him.

All Posts About: Luis D. Ortiz

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