Meet Dr. John and Marian Hamilton

 

“My flying dentist friend” is how Jack refers to Dr. John Hamilton. After listening to some “close call” airplane stories he has had over his 31 years of flying, maybe lucky flying dentist friend is more accurate. Either way, one thing is certain, Dr. Hamilton does not live his life “flying by the seat of his pants.” He is a very intelligent and well schooled individual, not just in regards to his dentistry but including his diversified business investments.

To date, this has to be the most fun interview. We met at the Fireside, here in Detroit Lakes. The appetizers were served, dinner on the way, and the wine and conversation were flowing. John laughed as he started, “I like to paint with broad brush strokes, while Marian (his wife of 39 years) is the bristles-filling in the details.” It was evident that the two of them make a great pair. John has built a successful dental practice in Williston, ND with Marian at the business helm. 

The dental practice has been very good for the Hamiltons in many ways. The most evident is that it has afforded them the ability to make other worthwhile business investments. But having the means doesn’t guarantee the right investments are made. One could say Dr. Hamilton likens his business acumen to his love of flying. It’s impossible to jump into an airplane and fly it. Anyone interested in becoming a pilot must first go through ground school. Once in the airplane, a detailed flight check must take place. Everything must comply or the plane never takes off. His disciplined and well researched approach to life is the secret to his success.

“The way that you create and get the best deal (I don’t care if it’s government or people or whatever it is) you have to establish a relationship. You have to figure out who it is that makes the decisions.   Who spends the money.” John went on to explain how he developed a relationship with a guy who had connections with a company that built spec buildings which were leased to the federal post office. One of those buildings was in trouble. The project was mismanaged and the builder needed out. Enter John Hamilton. He did his homework and made the investment. The project was completed and doing quite well. Then one day, out of the blue, he gets a call from someone who “was GOING to buy this building.” John laughed and said, “Really?! I didn’t know it was for sale. The guy said to me, just give us a number. So I came up with a number that was just totally insane-totally insane for that time.” He continued, “And they said ‘OK!’” (Remember…”LUCKY” flying dentist friend…)

At this point, Jack interjected, “What a perfect set up for the next meeting John and I had.” The two of them laughed together as they shared how they connected. It was a Sunday morning and John asked his daughter Stephanie what she wanted to do. Marian lit up as she recalled, “Stephanie and her daddy LOVED to go to open houses together.” And so it was. The two of them were off. “So we go to this place,” he paused, “And there’s Jack. He and I have talked about this a hundred times. We NEVER would have made that contact if it wasn’t for that open house. It created this relationship.” The two of them had met back in the 80’s when Jack showed him a strip mall in Grafton, ND. John loves to rib Jack, “Jack is always asking people, ‘well now how do you know, and who do you know, and I think I know you because…’ He’s like Marian’s mother.” Again, laugher filled the air as we continued. “Sure enough we walk into this place and Jack says, ’I know you!’ And he starts quizzing me.” What happened next?   The rest, as they say, is history. Jack went on to show the Hamiltons a property which they ended up purchasing. “At that time it was one of the top ten sales in Becker County,” Jack added.

Since then, the two of them have worked several deals together. “Jack always undersells. He doesn’t try and hype anything.” So I asked, “Is that what makes your relationship work?” It was clear by the response that there is a great friendship between the couples as well as a comrade of two great businessmen. They both share a love of knowledge. As John explained, “I tell this to my kids. I don’t care if you’re talking about legal, accounting, taxes, investments you have to know at least as much as the people you are working with. This idea that somebody is going to make money for you…no, NO! YOU have to be educated. You have to know exactly what you are dealing with. You have to do due diligence if you are going to invest in real-estate You need to be the contractor, the engineer, the lawyer-everything. The point is, if you are going to be a savvy investor you have to be involved and know exactly what’s going on. People that whine and cry because something didn’t go right…the heck with them, they didn’t do their homework!” Another piece of advices he offered was his “platform” that he stands behind as Chairman of the Board of the Great West Division of the American Cancer Society, “You have to be fiscally responsible. You don’t’ spend what you don’t have!”

So, the last of the wine was poured but the doggie bags were not the only “take-aways” of the evening. The lessons learned were twofold: First of all it is essential to know your “stuff.” Second, know how to develop relationships. An art that Jack and John have mastered each in their own way, and with a little a little “luck” and a lot of hard work, those relationships will pay off.