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8:40 AM
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As 2012 comes to an end, it's time to look back over what I accomplished in the year with regards to my real estate investments.
I made a total of 5 hard money loans over the course of the year. Four of those are still active. None were delinquent and none defaulted. The investment in the apartment complex gave me a bit of worry for a couple months, but in the end, it appears to have regained its footing. I did not invest any more money when management made the cash call in February. On the other hand, the property has not been generating any income for me either. Things appear to be heading in the right direction now, after hitting a bottom around mid-year. Right now, I'm getting close to $1,000 a month in passive income. This is purely from my hard money loans. If the apartment complex was paying interest as planned, I'd be well over that figure. When I started this blog seven and a half years ago, getting $1,000 a month in passive income was a goal. I didn't get there as soon or in the way I thought I would. It took longer and I ended up going into hard money investing rather than buying and renting properties, but the end result is the same.
Next year, I plan to continue with the hard money lending. I'll probably increase the funds I am using for that slightly, although I have several personal plans that might eat up my funds instead. The plan for the apartment is to continue to let it run and start looking at selling it towards the end of 2013, so any sale probably won't happen until 2014.
I made a total of 5 hard money loans over the course of the year. Four of those are still active. None were delinquent and none defaulted. The investment in the apartment complex gave me a bit of worry for a couple months, but in the end, it appears to have regained its footing. I did not invest any more money when management made the cash call in February. On the other hand, the property has not been generating any income for me either. Things appear to be heading in the right direction now, after hitting a bottom around mid-year. Right now, I'm getting close to $1,000 a month in passive income. This is purely from my hard money loans. If the apartment complex was paying interest as planned, I'd be well over that figure. When I started this blog seven and a half years ago, getting $1,000 a month in passive income was a goal. I didn't get there as soon or in the way I thought I would. It took longer and I ended up going into hard money investing rather than buying and renting properties, but the end result is the same.
Next year, I plan to continue with the hard money lending. I'll probably increase the funds I am using for that slightly, although I have several personal plans that might eat up my funds instead. The plan for the apartment is to continue to let it run and start looking at selling it towards the end of 2013, so any sale probably won't happen until 2014.
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