OK, I know last time I said I was done updating this blog, but I just wanted to pass on one more bit of news:
My eBook, which I was previously selling myself, is now available exclusively for the Kindle via Amazon!
I've dropped the price down to $3.49. If you are a subscriber to Kindle Unlimited, the book is available for free as part of your subscription. If you are an Amazon Prime member, the book is available for free as part of that service via the Kindle Owner's Lending Library.
I've lowered the price of my eBook, A Flipper's Diary! The original price was $29.98. Get it now for only $12.95 - that's a savings over over 55%!
I'm pleased to announce my ebook, A Flipper's Diary, is finished and now available for purchase! What does it contain? I'm glad you asked!
I've taken two of my flipping projects that I've presented here and presented them in chronological order (unlike the reverse chronological order of the blog) and added additional comments and information that I have learned since I worked on those first projects. I've also included a glossary with definitions of terms you are likely to encounter in this business. These terms are conveniently hyperlinked for quick look-ups. The book is 150 pages long and includes many full color "before and after" photos of the projects. It also contains full financial details of each project, including my costs and profits. Like this blog, the book is written with the beginning investor in mind.
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.
I have had some more free time since I was laid off from my day job, so I've started work on something that was suggested to me back in 2005: write an ebook. I'm taking two of the rehab projects I've detailed here (House #3 and House #11, on this blog, although they were labeled as such before I was using tags to mark the entries and before I switched to a new numbering system) and adding some additional comments to them, based on what I have learned since or from those projects. I'll be sure to let you know when the ebook is finished.
