Sat 29 Nov 2008
Feast or Famine – Business Out of Control
Posted by Charles Clarkson under Motivation, REI, Rants, Sun Valley MHC
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Sat 29 Nov 2008
Posted by Charles Clarkson under Motivation, REI, Rants, Sun Valley MHC
No Comments
Tue 6 May 2008
Posted by Charles Clarkson under Economics, REI, Rants
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Sat 29 Mar 2008
Posted by Charles Clarkson under Erath County, REI, Texas
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Oh, I just had the worst meeting and I can only blame myself. More than a year ago, I made a big mistake and I am paying for it now. You see, I own a small mobile home park in Stephenville, TX. I live right in the middle of it. I lease my improved land to mobile home owners. I do not own any home other than my own.
Just about a year ago I was not feeling well and a two homes in the park were purchased while I was shut in my house. When I was notified of the sale, I should have immediately informed the buyers who were the current residents that they had no lease and that they needed to move out of the park immediately. As you can probably guess, I didn’t do that.
(more…)Tue 25 Mar 2008
Posted by Charles Clarkson under Economics, REI, Texas
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In real estate investing propaganda I often see terms like “50 cents on the dollar” or “buy property for half off.” This is bull shit, folks. Any product sold is worth exactly what the purchaser paid for it. A house which sells for $50,000 is not worth more than $50,000. We know that because it sold for $50,000, not for more than that.
Is is possible for a person to buy a house in the morning and sell it immediately for a profit. With a double closing I could do it in one trip to the closing company. Though it is a rare deal, it might be possible to buy a property for $50,000 and immediately turn around and sell it for $100,000 in one transaction.
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