"I Want a Second Home"

Planners Title (planner's focus):
Planning for a second home.

Personal Title (client focus):
Can we buy a shore house?

Case background:
My clients were in their late 40's and earning a good income.  They saw that there was a recent increase in real estate prices and thought that this would be a good investment for them.  I discussed the increasing values of real estate and the long-term potential of this type of investment.  We all agreed that this would not be a short term situation and we calculated the amount that would be needed for a down payment.

What happened in the meeting:
Using the Barney book, we were able to determine the exact amount of excess income that the clients had each month that they were not investing, but spending on non-essential items. We determined that we would set a goal in 3 years to have a certain amount of capital for a down payment on the new second home.

How did it turn out?:
The clients were upbeat and happy to the fact that they the meeting knowing that they had a goal in mind.

Notes to myself on the meeting:
I will prepare certain short to intermediate terms investment recommendations for the client.

Unexpected Revenue:
There will be potential for my office to offer a mortgage quote and there will be some fees generated to manage the short term money.