As you can tell from the last time we updated the website and our last news update, the last three years have been extremely busy for us and many plans made have been way-laid and changed due to the economic crisis that all off us are experiencing. Even we have been affected. Luckily, we downsized on the properties that were a losing proposition, selling them before most of the troubles hit home. Plus, we sold a few more properties that increased our immediate wealth until both of us had been laid off from Cessna Aircraft about mid-August.
Since then, we have remained steadily at work on two flip sells and bought two more properties that have been rehabbed and are currently rented with the money made earlier in 2009. In addition, we have even outsourced ourselves to a few folks as remodelors and advisors to their own projects. Needless to say it has been a very busy spring, summer and late fall with many 10-16 hour days.
We even have branched into Cedar Rapids, Iowa with involving a relatively new concept for property ownership in our endeavors to find and buy into a large apartment complex. We are proud to have joined in with several investors under the guidance and property managers of Jason Rogers and Darin Garmin on a 24 unit apartment complex in Iowa.
Taking accepting the terms and conditions, we invested in the apartment complex and have rather enjoyed the idea of receiving a 18% return on ROI.
In fact, we liked it so much that we decided to find a similar group in Wichita, Kansas only to discover that there was no such group. Frustrated but not discouraged, we decided to form a group of our own and had a wonderful turn out in January in which my husband and I have held three group meetings to discuss the idea and to see how many adventurers were out there.
We were impressed have thus commenced on searching for two different types of properties for two different distinct LLC groups: One property investment to be a flip sell and the other as a long term rental residual passive income investment.
Currently, we are accepting all investors into the Millwood project and closing deadline for investment commitment will be February 15th.
Can’t wait and look forward to more prosperous times with what we start now in what is the best shopping time for investment deals. As Warren Buffet said of late, now is the best time to buy stock. The economy, like the tide, has gone out and has exposed those companies who and who are not wearing their skivvies. The ones who have their skivvies on are the companies that are well balanced and have good structure in their day to day activities.
Crissy and Johnny Jackson