All Forum Posts by: Bo Mitchell

@Matt Moreland

Matt thanks for commenting. The New Home area is going crazy. Houses are going up everywhere.

I read that you are doing some investing in the Midland/Odessa region. Has that market gone back through the roof since the price of oil went back up?

It would be great if we could get together sometime!

Have a great day,

Hey @Mitch Messer thanks for commenting. I actually grew up in Farwell TX so I happen to know where you are!

I’m currently working with a realtor trying to find more properties to invest in. Im still pretty new at the real estate game but I’m looking for properties on the south side of town. It seems to me that most of the growth is going toward the smaller surrounding towns. I’m really open to anything that is close to Tech or LCU too. Last time I spoke with my realtor she said that property all over Lubbock is moving really well. Are you doing any properties in Clovis?

Investment Info:

Single-family residence buy & hold investment in Lubbock.

Purchase price: $90,000
Cash invested: $30,000

Single family home, 1300 sq ft. 3/2

What made you interested in investing in this type of deal?

We felt like it was a low risk purchase. We knew if we couldn't sell the property for what we wanted then it would cash flow as a rental property

How did you find this deal and how did you negotiate it?

The realtor that I used to purchase my home knew that we were looking to get in to real estate investing contacted us about it.

How did you finance this deal?

We used a line of credit and cash.

How did you add value to the deal?

Remodel

What was the outcome?

It is now finished and rented out cash flowing.

Lessons learned? Challenges?

We learned a lot from this property. We ended up putting to much money in on the remodel lucky for us it cash flows as a rental.

Hey guys,

I'm Bo Mitchell currently live in New Home, Texas. I am part of a partnership and we are trying to flip and buy rental properties.  As of right now we have one single family home leased out in Lubbock. We are working on a flip property in Moody, Texas. I work full time as an engineering technician and I'm trying to create passive income. My business partners and I are looking to expand our rentals and flips. Our short term goals are buy 5 properties in the next year that either cash flow or that we can flip. Any advice would be appreciated!

Thanks