Self-Motivation Is the Key To Success
Dennis began studying for his insurance broker license “while driving a canteen truck during the day and tending bar during the evening.” Shortly after Dennis passed his license exam, another risk presented itself: He was asked to purchase his friend Bob’s agency. he said yes, so with a book of business of $6,000 annual commission, Dennis began his insurance career.
In 1975, Dennis purchased another small insurance agency in the neighboring town. Since the bank would not loan him any money, the owner agreed to carry the loan. Dennis also borrowed $5,000 from his parents. “I re-paid the loan with interest within 6 years.”
He purchased an office building in 1977, which he still owns today. “The building cost $42,000. Again, I was able to purchase it with no down payment and a second mortgage taken back by the owner. I also took a small personal loan from the bank. A friend from his first real eatste venture I wanted to buy a larger property next to his office, and so we made a deal. This is proof of the value of networking and relationships.” This shows us what Emerson wrote was true; "Once you decide, the universe conspires to make it happen", Dennis adds, "we just have to learn to take action and stay out of our own way".
In 1978, Dennis married and within a year he purchased a home in the town were he grew up—again with no cash down payment. By 1979, at age twenty-nine, Dennis owned two agencies, a home, and an office building.
When interest rates climbed to historic high levels in 1981, Dennis started his own real estate agency. Too add more to his full plate, he started a building business with a friend, and began buying foreclosures with a couple of other buddies.
The company was incorporated and was named BBW, Inc. “It stood for Big Bad Wolf—from the chorus of the Sam the Sham and the Pharos song "Little Red Riding Hood." We purchased a few foreclosures, sold them, and made a profit.”
Then a few years later and after his divorce, things began to stagnated. "Business was okay; things were not terrible, but there was little-to-no growth. This cycle of events led Dennis to determine that much of the stagnation came from a lack of Vision and Goals—something he had always had.”
Dennis jumped back on track and the rest, as they say, is HisStory.
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