Friday, August 8, 2008

Multi #1 Producing Income

Yesterday, I got my first check from my apartment complex investment. It's actually not from the operations of the complex, so it's not very big and it is no reflection on the investment itself. If you recall, I invested in the property, but then the principles of the project were having difficulty raising all the funds needed for purchase. It took them 2 months, but they finally did it. Well, that two months they had my money and the money of other early investors. What they did was put our funds into a regular interest-earning bank account. Now they are returning the interest earned during those two months to the investors. My check was for a couple hundred dollars.

Next month, though, will be the three month anniversary of our purchase of the property. Since they distribute profits quarterly, we should be getting our first real return on our investment then.

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