Archive for the ‘INVEST’ Category
Thursday, July 10th, 2008
Some days things just turn out well... Today (actually it will be yesterday by the time you read this) just reminded me of the 1993 Ice Cube song "It was a good day (Youtube link)".
Good news from my PM. My SLC townhome#2 is rented at $1150/mo! That's a $50 increase in rent. No ...
Posted in Ebiz1, Real Estate | 1 Comment »
Monday, July 7th, 2008
I used berate my PM alot on here. In fact, since I've posted about my PM back in 2006 and 2007 they have improved greatly. When I first hired them, they were a small 2 person mom and son operation. In the past 2 years they have expanded to as far as I can ...
Posted in Real Estate | No Comments »
Thursday, June 12th, 2008
Well it has been 1.5 months without a tenant in one of my SLC townhomes. We've had a decent number of showings but no applications. This leads me to believe that I am priced a little too high. We've increased the rent $200 from $995 to $1195. My other identical ...
Posted in Real Estate | 2 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 »
Tuesday, May 20th, 2008
I got a letter today from the HOA stating that my tenants had a car parked in the street overnight. For those who don't live in HOA communities, most new communities do not allow parking on the street at night. All cars must be kept in the garage or driveway.
Anyway, ...
Posted in Real Estate | 1 Comment »
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 »
