All Forum Posts by: Mike Mitchell

I've been watching the downtown market in Lubbock which seems pretty similar to Amarillo. In the past 5 years a developer has bought a plumbing supply store, an old office supply store and some other buildings that have absolutely no character. He turned the buildings into apartments and immediately rented them all out. Let me restate, the buildings have no character, there are no parks around, no infrastructure that would draw me to live in that sort of environment (ie great restaurants stores or trees). I guess the lesson for me has been that a lot of people want to live in that environment here in lubbock where there is an overkill of new apartments in many areas of town. Lubbock too is looking at a revitalization of its downtown but it's years off. In our case it seems that the kickoff was started by a guy who made it work and still has high occupancy :D Keep us posted and good luck.
Mike Mitchell, Lubbock, TX
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Right now I'm using the xanadoo receiver. It's cheap enough, but in order to get a signal I'm standing on one foot with my head wrapped in tin foil while holding the receiver out the window of my home office :goofy: I'm trying another provider soon!
Mike Mitchell, Lubbock, TX
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Hi all
I'm planning to buy a laptop to use at home, office and in the car to look at real estate deals. Most laptops don't seem to have a very comfortable keyboard. If you like your laptop a lot tell me about it.
Mike Mitchell, Lubbock, TX
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Dear ihatecats78

I bought "are you dumb enough to be rich" and learned a lot from it. I haven't run across the one you mentioned. I feel like 50% of my knowledge came from reading and investing and the other 50% came from this site.
Good luck,
Mike Mitchell, Lubbock, TX
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Hey all cash

I like your style and agree completely. Don't be a slave to the lender!
Mike Mitchell, Lubbock, TX
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The government's role in our lives is not to fix everything. If people make poor choices then they are punished in the pocketbook. Let's not shed a tear for the banks or the borrowers. We've all got to wise up on this one. The situation will correct itself.
Mike Mitchell, Lubbock, TX
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:violin:

Does anyone have experience with different types of software for people who hold notes? I'm looking for a comprehensive package that will track payments, interest, penalties etc. Ease of use is critical. I'm on a mission and it's not to be a bookkeeper (not that there's anything wrong with that).
Mike Mitchell, Lubbock, TX
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Several people have been asking me what the sub-prime loans that are going bad will mean to guys like us. It seems to me that if the lenders have to take back these properties it will simply push prices down and the market will correct itself. We simply have to respond by buying at better prices. Is there more to it?
Mike Mitchell, Lubbock, TX
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Mike,
You probably could did this using a wrap around type of note. What are you trying to achieve? Monthly income? A spread between your interest rate and what you would charge? Sometimes you can sell more quickly if you're offering owner finance. Make sure that for the extra effort that you'll sometimes have to exert that the spread will be worth your time.
Mike Mitchell, Lubbock, TX
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Welcome Paige :lol:

I get calls every week from people wanting to sell me their mobile homes. Would you mind telling us about your experiences? Were they profitable? My primary hesitation is about financing. Are you holding the notes? If not, where did the buyers get financing?
Mike Mitchell, Lubbock, TX
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