Escrow for the property securing hard money loan #7 closed on Monday. I should have my interest payment by the end of the week. My partner is looking for a new loan to invest my principle in.
I received another quarterly payment from the Houston apartment complex today. Back in March, they said they expected they would be able to increase the quarterly payouts over and above the guaranteed 9% return because the property was performing so well. Well, this quarter, the check was still for the standard 9%. To my knowledge, the property is still performing superbly. The semiannual investor conference call will be taking place on August 5 and I look forward to hearing more info about increased payouts at that time.
On another subject, I think this article from the New York Times should give all of us pause. If China stops buying our debt or decides they want to dictate how we do business to protect their assets, we are in big trouble.