Anonymous asked for an update on the four LLCs I am invested in that flip properties in the San Francisco area. There is not much news that is different from my last update on these. Three of the four are now ended and the fourth one ends in the next six months.
The real estate slowdown has really put the brakes on these investments. Although the terms of the LLCs are over, they are still operating. Why? Because the properties they own have not yet sold. They are being rented out now to generate some cashflow, but the return of my principle is being delayed until the properties sell. Not all of it though. Last month, the latest LLC to end distributed 20% of my initial investment. The rest is still tied up in properties.
The company that runs these LLCs has offered investors a new program where you earn 9% on your money, paid monthly. You can roll your original LLC investments into this new program. However, the program requires a two year commitment. I can earn more than 9% and I don't want to tie up my money with them for another 2 years, so I've opted to skip that investment. Now I just have to wait for the properties to sell. The way things are going, it might take two years anyway..
Hopefully, I'll have an update on the Louisiana deal later today...
0 comments
Post a Comment