I am still looking for a definitive partner to invest in the franchise operation. I do have some interest from one of my investing contacts a local bank. It looks promising and he is trying to arrange for the proper amount of liquid funds to be available when they review the application for investment. I guess I canâ€™t count my chickens yet, but at least I am getting ahead.
I got a call from a gentleman yesterday that is looking to sell a 48 unit apartment block in a city a few hours away. He is looking for $1.44 Million, so partners and creative financing are my only option. Unless I can find a completely different investor/buyer for the property and receive another finders fee.
We had a wicked storm here last night and of course my tenant at the duplex called and there was a pipe leaking in her basement. I definitely want to get that fixed, considering the damage it could do to the building. Donâ€™t get me wrong, I am glad she called, but it is funny how things seem to happen when everything seems to be cruising along fine! Itâ€™s just part of the Real Estate Investing deal I guess.
I found a few tips for being a new landlord here. It is a great site for beginners to dip their toe in and get some seasoned advice. I have also picked up quite a bit of information from the Alberta Real Estate Investment Network Website, and usually use the Canadian Multiple Listing Service to make comparisons on home prices.
I am going on vacation for a week starting on Wednesday, so I am not sure how much updating I will be able to do. If anything major comes through investment wise, I will do my best to post.
P.S â€“ I havenâ€™t forgot about Focus Media (FMCN), please take a look and do your own due diligence before investing.
Have a crazy productive day!