In late 1984 everything began to fall apart when Richard and his partners had strong differences of opinion as to the direction the business would take. For one thing, the partners did not understand the first trust deed side of the business that I and other agents were into and so the partners decided to close the La Jolla Office. Certainly, I could understand when we are not making money things have to be done but we had finally trained a "full-time processor" (very time consuming) had good calls coming into the La Jolla office and with some good agents could really have made it go. I figured out how much I alone made for Jones Mortgage and I was covering the cost of the office.
When the office was closed without so much as a word to me after giving so much time and effort (never compensated for), I felt it would be best if I worked where I was just bringing in income and not involved in donating my time for someone else. By this time I had sold whatever assets I had to keep us going. Our house was fully mortgaged, there was not enough income to cover 1/3 of our expenses, our personal life was a disaster, and my frustrations were greater than ever--of the two "best " opportunities I had, I guess I chose the wrong one. If I had gone with Fouts, retired football player who was starting his mortgage company and asked me to join him, I would perhaps have stayed there, however...
At La Jolla Newport it was great for a while. They bought me a new desk, a Xerox memory typewriter and all I had to do was bring loans in--all processing was done by them--they were completely computerized. Everything was great, except the way they treated clients and other agents. They were very kind to me, but... I finally could not work any longer where clients were intimidated and spoken nastily to, and put down, mostly because Don, as smart as he was, had serious problems. Because of their attitudes, they cost me at least $3000, but I did earn over $3000 net in the two months I was there anyway. After I left I again could have gone straight to Fouts or ICA or who knows. I didn't try to go anyplace, but the opportunities were there.
What I did is work from home for awhile but the plan was forming to split with Jones Mortgage.
So with the situation the way it was, Richard eventually split with Jones Mortgage and we formed our own company, Choice Mortgage Inc. and began to look for an office. Two of the Jones employees followed Richard and one of the LJN employees followed me. The partners in La Mesa accused Richard of possibly leaving them with liabilities and doing things for himself when he opened the La Jolla office when actually his whole time and effort had been spent in trying to make Jones Mortgage work. All our personal life had been completely turned upside down because of his financial involvement in Jones and his working all hours of the day and night to see properties and collect rent, etc. and then they accused him. It was unbelievable to me.
I do think his partners were probably not happy that so many of Richard's relatives were working in the business. It certainly was a challenge to see that everybody got the income they needed. So many problems, it is hard to know for sure what the right solution was but a new office and business is what we did.
