Tuesday, June 30, 2009

First Payment on HML #7 Received

The first payment on Hard Money Loan #7 has been made. It was made on time too, which is a nice way to start things off. As an added bonus, Les, my partner, included an extra half month's worth of interest. This is because when HML #6 ended, I elected to just let him keep my principle while he looked for another investment, rather than mail it back to me and then have me send it back to him when he found one. At the time, he stated I would not earn interest on the money while he was looking for a new investment, but apparently he made enough on this new investment that he is sharing it with his investors. It took him 15 days to find a new investment, so he gave us an extra half month's worth of interest. Nice.

Hard Money Loan #4 continues to perform well. Yesterday I received another on time payment. This is the eleventh on time payment and I'm happy with the performance.

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