03-20-2010
Well, It looks like the market is perking up in San Antonio, Texas. I currently own about 100 houses if you count everything (SFRs, Mobile homes & land/Home deals). I am on my way to having an occupant in every property...only 4 vacancies left. After the onslought of foreclosures the past 2 years only having 4 vacancies is like a cake walk!
There were many days I had 25+ vacancies and I was in a shear panic. How did I get through it? First an formost, I did a lot of soul searching a praying. Then, I took masssive action from sun up 'til sun down...working with my trusted contrator to re-bright the houses, pulling in people to help sell (commission only) and closing deals at my office in lightning speed. Although I disagree with the Obama's "1st Time Home Buyer's Tax Credit" I was able to collect higher down payments due to that program.
I used plenty of bandit signs and tons of postings on CraigsLists.org to generate leads. The traditional newspaper is dead as far as I'm concerned. I am starting to look at buying agian. The prices are getting back to the way it used to be. I wrote about thos times in my book,
Well, It looks like the market is perking up in San Antonio, Texas. I currently own about 100 houses if you count everything (SFRs, Mobile homes & land/Home deals). I am on my way to having an occupant in every property...only 4 vacancies left. After the onslought of foreclosures the past 2 years only having 4 vacancies is like a cake walk!
There were many days I had 25+ vacancies and I was in a shear panic. How did I get through it? First an formost, I did a lot of soul searching a praying. Then, I took masssive action from sun up 'til sun down...working with my trusted contrator to re-bright the houses, pulling in people to help sell (commission only) and closing deals at my office in lightning speed. Although I disagree with the Obama's "1st Time Home Buyer's Tax Credit" I was able to collect higher down payments due to that program.
I used plenty of bandit signs and tons of postings on CraigsLists.org to generate leads. The traditional newspaper is dead as far as I'm concerned. I am starting to look at buying agian. The prices are getting back to the way it used to be. I wrote about thos times in my book,
MY LIFE & 1,000 HOUSES
"Failing Forward to Financial Freedom"
By Mitch Stephen
FIRST 100 PAGES - FREE!
Today is starting to look a lot like yesterday in some respects; Prices, Note Buyers, eager clients ready to use "Owner Financing." Things that are NOT the same... well let's see.... the banks aren't lending, the credit score bar has been raised to 620 for traditional FHA loans and a lot more people are out of work. All in all, there is still much money to be made in real estate...
"Wealth Comes From Chaos"
...and there is plenty of chaos out there!
If you care to discuss the Texas real estate market or real estate in general, please feel free to join me. I'm looking forward to my first discussion with someone other than myself.
Mitch Stephen
Author, MY LIFE & 1,000 HOUSES
Labels: IT's A NEW DAY IN REAL ESTATE
posted by Mitch at
11:30 AM
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