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Sunday, January 04, 2009

General Update

Well, the holidays are over and things are settling back down to a normal routine.

I received another on-time payment on Hard Money loan #4.

I received another quarterly profit distribution for the apartment complex in Houston. Again, the distribution worked out to our preferred 9% annual ROI. After five months of rising, the occupancy rate dropped, but only by one percent back down to a more normal 96%. I knew the 97% rate from last month wouldn't last too long. (Marketing and retention expenses dropped by about 20% from last month, which may explain the drop in occupancy.) Repairs from Hurricane Ike are wrapping up. Return on equity for the property this quarter is currently at 8.7%, but excluding the cost of repairs from the hurricane, it would have been 10.9%. Next month will see a one-month profit disbursement to sync us up with a calendar-quarter payment basis in the future.There is a bi-annual investor conference call scheduled for the end of this month that will provide investors with an overview of how things are going so far and what the outlook is for the next year.

I almost got hired at a local real estate investment trust company. I made it to the final three applicants, but the company ended up choosing someone else. Too bad. This REIT specializes in commercial real estate and they have over $50 billion in properties under management. I could have learned a lot from them.

Work on my ebook has stalled. Actually, I am done with it, but my wife is working as the editor and she hasn't had time to work on it lately. Hopefully, that project can get moving again soon.

4 comments:

Another Investor said...

Happy to hear you are getting to the interview stage for jobs you might actually want. Hope 2009 is a better year for you.

David Taylor said...

I am a Google Adwords Professional in Australia focusing on the Real Estate industry and just wanted to say what a great real estate blog you have.

Steeltown Landlady said...

Hey Shaun,

I read your blog all the time - I think I've even commented once or twice! Anyway, I just wanted to tell you I'm glad things are going well and hope that you get one of those jobs you're hoping for.

You're partially responsible for my own blog, actually - although my landlording is much smaller and more local than yours. It's interesting to read another person's perspective on the business.

Shaun said...

Thanks! I'll check out your blog when I have some more time.. I have to run out the door right now..

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