Archive for the ‘Apartments’ Category
Monday, July 21st, 2008
After spending a week in 75-80 degree weather, I'm back in the heat in Phoenix. So what's new?
SLC Townhomes
The new tenants of SLC Townhome #2 moved in and found out that the AC unit was not working. My PM had someone go take a look at it. I assumed that ...
Posted in Apartments, Making Money Online, Real Estate | 5 Comments »
Friday, May 30th, 2008
Short post today. Apartment #2 closed yesterday!!! Only thing negative was that interest rates crept up from below 6% to 6.35% by the time we lock. 0.0035% is huge when you are borrowing $10 million. That will cut into our cashflow numbers by about $3,000 a month.
Posted in Apartments | 2 Comments »
Sunday, April 27th, 2008
It's been two months since my last update on Apartment #1. The last time I wrote about Apartment 1 I said that pro-forma revenue is around $82,000/mo for the complex and we are at about $66,000/mo. In March we dropped down to $62,000/mo in rental income.
Although vacancy is actually lower, we ...
Posted in Apartments | 1 Comment »
Wednesday, April 23rd, 2008
I guess it was about time for an update on Apartment #2. Since the last update our 5% additional financing fell through, but we were able to find an investment group that wanted a piece of the apartment building. As of today we have a closing date at the end ...
Posted in Apartments | 1 Comment »
Wednesday, February 6th, 2008
On the heels of yesterday's Houston Apartment #1 update is the Houston Apartment #2 update. Shaun did a great job at summarizing the investment on his blog. I won't go into as much detail as he did but since this is a moving target these numbers will change daily.
Houston Apartment #2
This ...
Posted in Apartments | 4 Comments »
Tuesday, February 5th, 2008
The first apartment complex in Houston will now be called Houston Apartment #1 on here. I just realized I had never really disclosed any detailed information about it until now.
Houston Apartment #1
The apartment building is a 125 unit complex that was built in 1969. It's comprised of a mix of ...
Posted in Apartments | No Comments »
Friday, January 18th, 2008
Our first 125 complex apartment in Houston is going well. In fact, there really isn't alot to mention. Our cost of repairing the parking lot came in less than budgeted. Landscaping is being done. Things are on schedule.
The potential 2nd 300+ apartment complex acquisition is coming along also. I hope to have ...
Posted in Apartments, Real Estate | 2 Comments »
