Hard Money Loan #9

Just got into a new hard money loan today. The borrower is the same person who was the borrower for hard money loan #7. That loan only lasted two months, but this one should be a bit longer - we're guessing 6 months. (The legal document says the loan is for a maximum of 1 year.)The property was another one bought at a foreclosure auction in the northern California area. We have a first mortgage in the amount of $160,500. Investors are getting 10%...

Houton Apartment 6 Month Update

The second semiannual conference call for investors in the Houston apartment complex was last night. We have now owned the property for just over one year.First, the management gave an overview of the situation in the Houston market in general, and then in our district, and then, finally, our specific property. The Houston job market actually gained 54,000 jobs in 2008. So far in 2009, it has lost about 31,000 jobs. This is in line with the top 100...