Posted by Chuck (AZ) on March 02, 2002 at 19:45:05:
This subject has been on my mind of late also… just didn’t get around to it in a timely manner.
It should be very apparent that you’ve had a profound effect on the lives of a great many people Lonnie… mine included.
About 6/7 years ago, I was a 40+ hour a week wage slave… actually it probably averaged closer to 52. I do remember in particular, one month in my last year of clock-punching where I put in two 80-hour weeks back to back.
Walking zombie indeed.
“What’s wrong with our schools?” had a profound effect on me… not that I was foolish enough to get so low that I had to live with friends, but because I was trapped in a mountain of “liabilities”, that I thought were assets.
So I formulated a plan, put it into action… and a few short years later, now own 2 mobile home parks and am in the process of buying my third.
Along the way, I learned enough about the note business to start my own commercial/business note brokerage.
I have 7/8 note deals on my desk at the moment, which include a warehouse mortgage of $800,000 - a hotel mortgage of $19MM - and a office building mortgage of $64MM.
To top it all off, I arranged to factor the invoices and sell the dealer carry-back notes for a 5,000 unit pre-fab housing project this week.
(Lesson to the still learning - at least part of the profits from my note brokerage, have been used to pay off my assets… along with building my retirement fund).
Life is good Lonnie, and I’m passing the wisdom on.