Tuesday, March 03, 2009

Fell Out Of Escrow

The property that is the collateral for hard money loan #6 fell out of escrow and is now back on the market.

Nothing much new to report. I've been working on getting my paperwork together for my taxes. The four flipping LLCs I am invested in in California all reported losses last year. The amount ranged from 1% to 3% of my investment. I'll be taking the losses as deductions on my taxes. On the positive side, the people running those have some other LLCs they recently started that are showing profits now. Perhaps the California real estate market is starting to turn around. Either that or they are able to buy at serious discounts.

I just finished reading The Snowball: Warren Buffett and the Business of Life, a biography of Waren Buffett. I recommend it to anyone interested in business or investing. The first one-third was somewhat hard to get through for me because it dealt mainly with Buffett's ancestors and how they came to America and what they did. The latter part of the book was much more interesting, especially since, having been a Berkshire shareholder since 2000, I was reading about events I had heard about through Buffett's annual letter to shareholders.

I am also about 2 chapters into The World Is Flat 3.0: A Brief History of the Twenty-first Century and I can already tell this is another must-read book for anyone interested in business. My wife is taking classes for her MBA and this was one of her textbooks. I'm glad she convinced me to read it.


mobilehomegurl said...

I've heard about that Warren Buffett book - I'll have to check it out. Thanks for the recommendation!

Shaun S. said...

My name is also Shaun an I am a real estate investor. I was wondering if you are still doing deals or looking for deals in Phoenix. I am doing business there and in Montana. I am not sure how to converse with you -do i leave my e-mail address? please let me know and i llok forward to talking to you
Shaun S.

Shaun said...

Hi Shaun! I'm not actively looking for deals, although if one fell into my lap and was good enough, I would jump on it. If you (or anyone) wants to contact me, you can leave your email in a comment here. If you don't want your email publicly viewable, be sure to mention that. I won't publish the comment and no one will see it except me.

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