Lonnie Scruggs
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The Choice Is Yours
I came across some interesting figures put out by the Bureau of Statistics and the IRS. Thought maybe some of you would find them interesting, too. Twelve percent of Americans over sixty-five are living, or trying to live, on incomes of less than $5,000. Only four percent of people over sixty-five have annual incomes of $30,000 or more, and only three percent have incomes over $50,000. The average annual salary of a full-time worker with a high school education, is $24,180 ($11.63 hr). For a full-time worker without a high school education, it’s $16,848 ($8.10 hr.) It goes on to…
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Start the New Year Right!
I was just reading some of my notes and quotes that I’ve complied over the years and thought I’d share some of them with you. Most were obtained from various speakers/teachers/writers of motivational tapes/books/seminars etc. Hope they have the same positive impact on you, as they did for me.If you’re not getting what you want in life, take a good look at the reasons (I call them excuses) that are preventing it.There comes a point when you have to stop making excuses and start taking action that will get the results you want.We hold on to bad habits because we’re…
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How to Build Long Term Security
Finding and keeping a good long term customer does more for your financial wealth than a “One Shot-One Profit” deal. If you do one cash deal, you get one check. But a long term, good paying customer will make you payments for many years. So regardless what business you’re in, if you want to be successful, you should focus on repeat business from your best customers.I don’t know about you, but I’m finding it harder and harder to find people with a decent credit history. I would guess that I wade through at least 12-15 calls before I get one…
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How Good Can it Get?
After twelve years in the mobile homes business and many killer deals, I keep thinking it can’t get any better. But it seems like there’s always somebody that comes along and proves me wrong. I have to share this recent deal with you…it’s too good to keep to myself.A little over three years ago we had just bought another mobile home lot and were looking for a nice home to place on the lot to sell. I called around to all my friendly new dealers informing them I was in need of a nice used home. Within several days I…
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Have You had Your Financial Check-Up Lately
Seems like there’s always somebody telling us we should get a physical check-up every year, or so. But when was the last time you had a financial check-up? Or, have you ever had one? If not, then don’t wait any longer. Here’s a simple little test that will show whether you pass, or if you need a prescription for what ails you.Let’s suppose you finish school, play around for a couple of years, and at age 20, you settle down and get a “real job”. Using the example below, plug in your numbers in place of the ones in the…
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Ask Questions and Make Money
If you’re running short of money, maybe it’s because you’re not asking enough questions. Especially when it comes to asking for discounts when you buy something. It’s amazing what results you can get sometimes by simply asking a question. Let me explain what I mean by sharing several actual case histories with you.Yesterday, while waiting for some friends, we were browsing through a gift shop. I had been looking for an anniversary gift for my daughter, Janet, and son-in-law, Tommy. Joanne spotted the ideal item: a bird cage in the form of a hot air balloon, which was hanging from…
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A Perpetual Money Machine
Just how much money can you make on one old mobile home? I don’t know, but I’ve got one that won’t go away…. it’s like a perpetual money machine. Every time I think the loan will be paid off, something happens and I get the home back and sell it again.I first bought this mobile home for $4,000 and sold it seven days later for $7,900 with $2,000 down and a note for the balance, payable 12.75 %, $157.55 month for 48 months. After receiving 12 payments, I got the home back and sold it again. This time to a…
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Prescription for Burned-Out Landlords
Are you a burned out landlord like I am? Someone who is just plain sick and tired of dealing with tenants and rental properties? If so, let me share with you how we’ve been able to eliminate tenants, management, and maintenance, yet still get a check (actually two checks) each month. You might want to give it a try, too.We’ve been doing this for years with mobile homes and mobile home lots. As a result, we’ve eliminated 99% of the usual problems we had with tenants and rental properties.Buying “The Dirt”There are two “condominium” mobile home parks in my area.…
