Mitch Stephen has been a self-employed real estate investor for over 20 years. His real estate investing career started at the age of 23 when he read Nothing Down by Robert Allen. Mitch, his wife Tommi, and his daughter Shannon have purchased their fair share of local houses. Their company, Independence Day, Inc., has bought and sold over 1,300 properties in and about San Antonio, TX since 1996. This company specializes in buying distressed properties with OPM and selling those properties with Owner Financing.
The Stephen family built wealth by purchasing very affordable homes, selling them for double the cost, and owner financing the sale by creating a note to their buyer. In 1991 the family made plans to keep their wealth and create "forever money" by acquiring self-storage and boat storage facilities primarily around where they live in Canyon Lake, Texas. Started in 1991, with 13 boat storages in front of a state park at the lake, the storage business has grown to over 1,100 storage doors in 16 locations, averaging $92 per door per month.
Mitch is the author of three books in the My Life & 1000 Houses series: Failing Forward to Financial Freedom, 200+ Ways to Find Bargain Properties, and The Art of Owner Financing. Mitch's personal expertise includes raising private money, finding bargain properties, negotiating favorable terms, dealing with renovations and contractors, selling houses, selling notes with little to no discount, and helping others deal with the everyday throes of life in business. He is very familiar with Dodd-Frank, RMLOs, S.A.F.E. Act, Texas Property Code, Truth -in-Lending, R.E.S.P.A. and the legal options available in the owner finance domain.
Mitch offers online education, group coaching, and full-on mentorships as it relates to all the aspects of owner financing.
What you’ll learn about in this episode:
Ways to contact Mitch: