Live Learn Invest

Where has this year gone?

July 2nd, 2009 by Kenric

Wow, halfway through 2009 already!  This will be a long update because I’m seeing this blog go to weekly but longer updates, rather than daily ones.

Real Estate

Apparently the US Postal service did deliver my Chicago condo application.  They just forgot to scan it so it kept saying it wasn’t delivered.  We figured it out because someone cashed the cashier’s check that was in the package.

First, the condo in Chicago charged me a full month’s rent ($1750) because my tenant stayed less than a year and she had a 2 year lease.  According to the newly adopted HOA’s, if a tenant leaves early, I must apply for a hardship waiver in order to be able to re-lease the unit out again.  If the waiver is approved, I have to pay a one month penalty.  Those fucking bastards.  I hope that building burns down one day.  I did talk to a real estate attorney and he told me that what they are doing is legal.  However, my lease could be grandfathered in since it was signed prior to this new rule.  However, the cost of fighting it and the possibility of losing wasn’t worth the $1750.

Houston Apartment #1 has a capital call.  We have been trying to refinance this property for about 8 months now.  It currently has a 2 year loan that is due in a few months.  Financing has dried up and there aren’t that many loan options out there.  The reason for the capital call is because the HUD loan that we are getting is requiring that we put $250,000 into escrow to use for building maintenance over the next 35 years.  This capital call is purely due to this escrow amount and is not because the property is bleeding.  The property has been about break even for the past 6 months.   The good news is that once this loan has closed, the apartment complex will cashflow.  The bad news is that each shareholder has to come up with about $10,000.

E-Businesses

The 3 ebusiness stores I have are doing ok I guess.  Cumulatively, they bring in halfway decent income even in this poor economy.  Hopefully things will get better.  I’m hoping for a decent second half of 2009.  So far, my first store is about 20% below last year’s first half of 2008 revenue.   But the good news is that I now have 3 stores.

The yoga bag store actually did pretty decent in June.  Not too bad for its 2nd month.  PPC prices are too high for the yoga industry so I need to work on its SEO some more.

I have another store waiting in the wings, but I’m torn between opening it and putting my efforts in a different direction.  The stores are great and fairly easy to run, but the bigger and easier money is to move up the food chain, to become a wholesaler to retail stores, or becoming a dropshipper, or to manufacture a product.  I’ve been looking into prototyping companies to see how much they cost to build some samples of whatever.

I feel like I have the knowledge to successfully sell a product online, either to consumers or other retailers.  I just need to come up with a product.

Vegas

I was in Vegas a few weeks ago with the Bluefire folks.  I had a decent run at the blackjack tables.  I ran hot during one shoe and actually lost only 5 hands during an entire 7 deck shoe.  In fact, I won my first 15 hands! Needless to say, I came back from Vegas a winner!

One funny hand, There were 4 of us at the blackjack table.  A random guy sits down in the middle seat.  He thinks he knows how to play, but clearly doesn’t because he tells me I’m not supposed to double down on an 11 against a face card.  So anyway, it’s me, 3 pro poker players AKA pro gamblers and this guy.  We are doubling down on 9’s, soft 15’s, soft 16’s.  The random guy looks baffled and probably thinks we’re crazy.

So one hand the dealer is showing a 3 and this guy has 13.  Granted its a marginal stay and this guy tanks.  He’s sitting there thinking and we think he can’t decide between a hit or a stay.  You should have seen the look on my friend Jason’s face when this guy doubles down!  It was priceless.  The guy spikes an 8!  The rest of us stay and the dealer flips over a 13 and proceeds to bust.  If that guy stayed, the dealer would have hit 21.

BTW, playing with professional poker players is alot more fun because they know that there is no such thing as someone taking the dealer’s bust card.  They don’t care if the person on 3rd base can’t play.  The cards are the cards and the money is just money.  You win some and lose some.

We were eating dinner in the Rio and Jason says I can’t decide if I want to hang out with you guys tonight or go to work.  Work meaning go to the poker room next door!  It’s just funny to hear someone say it!

Gold

I had promised to myself earlier this year that I would start taking my online poker winnings and using them to purchase some gold.  Last week I received a check from my poker account and I want to go purchase a shiny gold coin.  I’m leaning towards a 1 oz. Gold Eagle or Canadian Maple Leaf.  Originally, I was going to purchase an ingot but I’ve read that the coins are actually more liquid than ingots.

Miscellaneous

Last week, I rented an excavator to dig my koi pond.  I am building a 18′x13′x2′ koi pond in the backyard.  It took me and my cousin 2 weeks to dig the first foot of the pond.  Then the temperature went up to over 100 and we basically were doing 10 minutes a day.  So I got the excavator on a cloudy day and within two hours had the whole pond dug down to 6 foot deep!  I sort of went overboard, but operating construction equipment is really fun.  After I returned the excavator I had to fill the pond back up to 3-4 ft.  I got the liner on order but I probably won’t get the whole pond done until August.

That’s because next week I’m going to Colorado for our annual mountain biking trip.  This year is Breckenridge!

Posted in General, Making Money Online, Vacations | 8 Comments »
Stumble it!