Friday, December 13, 2013
Thursday, December 5, 2013
Building a personal brand that is in demand
Herman Chann knows a thing or two about building a personal brand----from college dropout to an online celebrity. Lets see how he did it.
Wednesday, December 4, 2013
Tuesday, December 3, 2013
Super Agents Live is coming soon
Super Agents Live is coming soon--we should be live in the next week or so. I have gotten just about 30 interviews so far and we are going to launch. This post is an attempt to see if itunes will lock my account for using the music we have chosen---dont know if they realize that it is from creative commons.
Tuesday, May 22, 2012
New Startup
I have not blogged in a really long time mainly, because I became a little self conscious. I was doing some investing --angel or otherwise-- and I felt that I was being too public about it. So I pulled back.
I am going to fire up this blog (hopefully) and mainly discuss my views and the stuff I am working on.
I am really excited right now about my new company www.taskhero.com We are writing code as we speak. For those of you who know me----I did a company called workexchange in 1999. We competed with Elance at the time and unfortunately, we were all a bit early and being early is the same as being completely wrong--we shut down and so did everyone else in that space.
My new company TaskHero is a variation of what workexchange was doing. Instead of being a platform to outsource technology work ---TaskHero is a platform for people to outsource their daily tasks in a localized way.
Let me explain why I am doing this company. I often wonder what the world will look like in 2030. How will we live differently? How will we work differently? There is so much exciting change happening right now that the world in 2030 will look nothing like the world we know today. Drucker said it best.
Every few hundred years there occurs a sharp transformation. Society crosses a divide where withing a few short decades, society rearranges itself--its worldview, its values, its social and political structures. Fifty years later there is a new world and the people born into it cannot imagine the world in which their own parents were born. Sound familiar? Growing up we had 6 channels on the television and rotary dial phones that were tethered to the wall. I recently heard a funny story---a father and daughter spend a night at a hotel---the daughter wants to make a call and picks up the phone. The daughter picks up the receiver and hangs up --------she tells her father that the phone was broken. He asked why she thought that and she answered by telling him there was just a constant noise on the other end. What she was hearing was a dialtone---she had never heard a dialtone on a phone before!! How different our world is today.
Back to the discussion---these massive societal shifts have been happening since the 1500's. The first huge change came with Gutenberg's invention of the printing press and Martin Luther's protestant reformation. As thought distribution became widespread there was a rediscovery period that changed the world.
The next transformation began in 1776 the year of the American Revolution and Adam Smith's Wealth of the nations---it was during this time that all is "ism's" emerged. Capitalism, Communism and the Industrial Revolution was born. It was during this time period that the Rothschilds of the world became more powerful and influential than Kings and Princes. Again--during the 1820's no one living at this time could imagine the world in which their grandparents had lived and their parents had been born.
Now Our period; two hundred years later is a period in which there has been massive transformation. After World War 2 ---America created the American G.I. Bill allowing every returning soldier money to attend a university----------this was the key factor in building our society into a knowledge society. This massive infusion of knowledge into our world has created the technology and specifically the internet that has changed the way we communicate, interact, and conduct commerce.
TaskHero is being built on the idea that the world is rapidly changes the way we work. In the future I see a world where everyone essentially works for themselves. In the future everyone will be the CEO of him/herself. Could we see a person IPO'ing themselves? Today--could Mark Zuckerberg sell shares of himself and his future creations? I guarantee you that Steve Jobs could have done it.
Well--that sort of thing is way off into the future but, for right now---TaskHero is the path in which I want to put people back to work. I want to inspire entrepreneurship---even if it begins with microentrepeneurship. I want to help people achieve their dreams!!
I am going to fire up this blog (hopefully) and mainly discuss my views and the stuff I am working on.
I am really excited right now about my new company www.taskhero.com We are writing code as we speak. For those of you who know me----I did a company called workexchange in 1999. We competed with Elance at the time and unfortunately, we were all a bit early and being early is the same as being completely wrong--we shut down and so did everyone else in that space.
My new company TaskHero is a variation of what workexchange was doing. Instead of being a platform to outsource technology work ---TaskHero is a platform for people to outsource their daily tasks in a localized way.
Let me explain why I am doing this company. I often wonder what the world will look like in 2030. How will we live differently? How will we work differently? There is so much exciting change happening right now that the world in 2030 will look nothing like the world we know today. Drucker said it best.
Every few hundred years there occurs a sharp transformation. Society crosses a divide where withing a few short decades, society rearranges itself--its worldview, its values, its social and political structures. Fifty years later there is a new world and the people born into it cannot imagine the world in which their own parents were born. Sound familiar? Growing up we had 6 channels on the television and rotary dial phones that were tethered to the wall. I recently heard a funny story---a father and daughter spend a night at a hotel---the daughter wants to make a call and picks up the phone. The daughter picks up the receiver and hangs up --------she tells her father that the phone was broken. He asked why she thought that and she answered by telling him there was just a constant noise on the other end. What she was hearing was a dialtone---she had never heard a dialtone on a phone before!! How different our world is today.
Back to the discussion---these massive societal shifts have been happening since the 1500's. The first huge change came with Gutenberg's invention of the printing press and Martin Luther's protestant reformation. As thought distribution became widespread there was a rediscovery period that changed the world.
The next transformation began in 1776 the year of the American Revolution and Adam Smith's Wealth of the nations---it was during this time that all is "ism's" emerged. Capitalism, Communism and the Industrial Revolution was born. It was during this time period that the Rothschilds of the world became more powerful and influential than Kings and Princes. Again--during the 1820's no one living at this time could imagine the world in which their grandparents had lived and their parents had been born.
Now Our period; two hundred years later is a period in which there has been massive transformation. After World War 2 ---America created the American G.I. Bill allowing every returning soldier money to attend a university----------this was the key factor in building our society into a knowledge society. This massive infusion of knowledge into our world has created the technology and specifically the internet that has changed the way we communicate, interact, and conduct commerce.
TaskHero is being built on the idea that the world is rapidly changes the way we work. In the future I see a world where everyone essentially works for themselves. In the future everyone will be the CEO of him/herself. Could we see a person IPO'ing themselves? Today--could Mark Zuckerberg sell shares of himself and his future creations? I guarantee you that Steve Jobs could have done it.
Well--that sort of thing is way off into the future but, for right now---TaskHero is the path in which I want to put people back to work. I want to inspire entrepreneurship---even if it begins with microentrepeneurship. I want to help people achieve their dreams!!
Tuesday, December 21, 2010
Why I hate Monday’s
Yesterday my head was swimming---vision was blurry and there was a constant ringing in my ears---well not really but, I wanted to get the paragraph warmed up. Yesterday I was waiting for one of my Escrows to either get going or fall apart and it was raining and the roof on my house was leaking.
Proactive or Reactive? I really should have told the roofer to start 3 months ago when I got the estimate but, for reasons unknown I thought it could wait---or I thought I would do it next week and then other stuff started to pile up and all of the sudden---my roof problem wasn't a problem when it is sunny.
So—if that wasn't enough---I went to one of my houses to check on it---I drive up and the neighbor asked me if I was keeping a dog in the backyard. I told her that I was not keeping a dog there as I only visit the property once a month or so…..my curiosity is peaked and I go into the backyard---I see paint cans stacked up outside the garage door---*strange*---I move the paint cans and peek inside. As I open up the door I see a huge head and two eyes looking at me. It was a 4 month old Pit Bull!!! Some piece of shit person locked a puppy in my garage and left it there. The neighbor said that she heard it crying for the last two cold nights---I have not been to property in about a week so who knows how long that poor little guy was stuck in there with no food and water.
Anyhow—I got him out and as he was shivering with fear gave him some water and affection. As I was petting him---I realized that he had scars on his face and legs---it looks like the guy who left him there to die had fought him. The dog gradually warmed up to me pretty quick as I think he knew I just saved his life. Luckily the neighbor said she knew a guy who has been looking for a pit bull puppy. We called the guy and he came and got his new pup. So far so good.
I was a little shaken by that as well as the idea that I had to get on my Spanish tile roof and try to fix my leak without falling off the house and breaking up my tiles. I went to Home Depot and bought some plastic, mastic, and a headlamp for working in the dark---well----got everything in my truck but, left the headlamp at the store—realized it when it was getting dark----after home depot—sent to Vons and bought some food and two pallets of water----well---got the food in my truck but, left the water at the store.
Never—ever have done this before let alone two times in two hours---I guess that dog thing bothered me more than I realized. Lets hope we can get on with this escrow so I can get up to the cabin and do some boarding.
Monday, December 20, 2010
Winter Break and a tale of two escrows
Well, Its winter break for the kids and this is when we typically head up to the cabin for a few weeks and put some mileage on our Big Bear season passes.
Unfortunately---the weather has not been that cold and the resort only has a base of 6-12” and it is raining up there this whole week----in fact, the resort is completely shut down today and is operating on a minute by minute basis----UNREAL!! Last year at this time---we were looking at a 6 foot base and beautiful conditions-------OH—why now?
To top off this crappy situation I am in escrow on two of my properties—should be great but, I am having some issues with one of my places. I am selling a 5 bedroom—3 bath home that is beautiful with new everything. This was a whole house renovation----everything from the floors to furnace was replaced. I am also selling it cheap---287K when the last house sold for 264K and had 1000 square feet less living space. I am only selling it this cheap because the buyers promised me that they would close prior to December 31 2010 and I could book this revenue and post it against some earlier negative entries.
During the discussions about price-----I committed the Cardinal Sin—I negotiated against MYSELF!! (Whats up Rookie?) I knew what I was doing at the time---the agent was telling me how much they could afford, comps etc. and in one conversation I was in a good mood and said—“Yeah OK—as long as I net 280K and then 10 minutes later “OK we I will take 272” and then the next morning in a caffeine induced snow covered morning (I was at the cabin) I texted her and said if we can get this done easily and quickly I would take 265K (net).
They agreed and we should have been off and running but, they came back a few days later with some kind of reasoning and said “Gee—would you take a net of 263K?” I almost killed the deal right there but, I said sure—I will take it as long as nothing else comes up. Wrong move—in fact most of the things I did in this deal were wrong and I knew it when I was doing it---why did I do it? At some level I underestimated the agent---older lady (3 grandkids) and I was essentially just chatting with her.
OK—I made some really basic negotiating errors and they are getting a good deal. They should be happy and I should be taking my lumps. The question is why are they now coming back to the table and wanting more??? The really crazy thing is that what they are asking for is essentially just pennies. They came back with a junk’d up inspection report from a guy who after looking at a 2x4 would say---“observed rough wood, that is not square---consider having an engineer provide additional report”. This guys report is a joke----and to top if off they agent then went and got an estimate from a heating guy who gave them an estimate that was about 5x actual costs. Geez!
So---no these guys are coming back and asking me to reduce the price to a 10K premium over what the last house sold for---remember—that my house is twice the size!! 2100SF compared to 1280SF or so—and then seriously want me to sell it to them for 10K over? Either that or put an additional heating unit in----(I just put one in?!?). So-instead of blowing up---I guided the agent to an online site and showed her that her clients could buy a wall unit for 400 bucks and that all the piping and venting is already inside the wall----------I had a 80 minute conversation with her about a 400 dollar line item? Nutty—she kept going over and over saying “I want you to say that you will put a wall unit in”. Boy—did I ever underestimate this lady----pit bull---1. see target, 2. Bite 3. Dont let go till you taste blood. That is OK---she is doing a great job for her client although, maybe a little too good.
For me—I easily knocked off 15 thousand dollars from this transaction just to make it easy and now they are quibbling over 400 bucks? OH yeah—this is a VA loan and MY fees are 24,0000 dollars because I have to pay for their whole escrow and promised to give them 9,000 dollars at the end of escrow-----and they are complaining about a 400 dollar wall heater? Talk about not being able to see the forest for the trees—in their defense---they are newbies---never bought a house and are probably scared to death -----I am sure they are thinking that renting is so much easier----no decisions to make.
So---what is the moral of this story---the lesson? I think it is this 1. never underestimate your other (opponent) 2. Dont step into the ring unless you are ready to fight to the death and 3. For every item you ever give up make sure that the other party gives up something in return.
About a week ago two of my properties went into escrow. One is a
The other property is a 3 bedroom---2 bath condo. In this unit i pretty much only put in new wood flooring and carpet----new paint and granite in the kitchen and bathrooms.
The prices for these two properties are as follows 287K for the 5/3 and 178K (I think—ned to look) for the condo. Here is the funny thing----if you look at the values based on Zillow which are always low---the 5/3 has a Zestimate (Zillow Estimate) of 295K. The condo on the other hand has a Zestimate of 143K.
So---I am selling the condo at 35K over the estimate and selling the 5/3 at a little less than 10K under the zestimate. From just looking at the zestimate—it looks like the buyer of the 5/3 is getting a great deal---which is true. The question is why am I having problems with these buyers?
Wednesday, December 15, 2010
Wow!! Last post was in January? 12 months ago--unbelievable
Well it is now December and have neglected this blog for a very long time----much of this neglect stems from being a little gunshy about posting my life online--very recently after my last post almost a year ago I had a meeting with a guy and out of the blue he asked me a question. I was kinda like "HUH?" and then realized that this guy had read my blog prior to this meeting---it felt a little awkward so........havent posted in the last year.
This blog is/was mainly meant to sort of be kind of a journal for myself---too many times I cant remember when some event happened I just sort of recall what else was going on at the time of the event----so I figured I would blog it and be able to document these events in a blog sort of timeline.
Anyhow---here is what is going on right now----still sitting on a bunch of real estate--7 houses---that is a pile of cash that is just waiting to be converted. For much of this year with everything in the economy looking kooky----I felt pretty good about having my cash in a hard tangible asset like real estate----I figured even if the economy completely took a dump I was in a better position with real estate than cash or stocks. Well---although the real estate market has stabilized (somewhat) there is still a ton of fear out there from buyers as well as lenders---so the time has come to sell of my inventory of houses.
I had two properties listed in the last 3-6 months and as of yesterday have two of the properties in escrow--now lets close them. Next on my list is a commercial property that I bought about 5 months ago----It has a pretty interesting "Light Industrial" zoning with super freeway access and you can see it from the freeway itself so--this should make a pretty good rental. I have zero interest in being a landlord but, in this case I am going to give it a try---after that sell the ranch. Funny thing is that I spent about 5K in September cleaning the 5 acres of landscaping and gutting the house only to leave the property vacanct for the last two months---I havent even been over there---nutty.
Kids are getting out of school for winter break next week and we are going to the cabin and begin putting our season passes to work--my goal this year is for me to get 30 days of snowboarding---that would make me feel good. I recently bought a bunch of cameras to tape the action of the kids --got a Vhold HD for my helmet and a super small Kodac for my pocket.
OK---I know this was a boring post but, had to get started with something. Next post will be some vids of the kids. I also am working on some tech ideas---one is for a pretty interesting Iphone App and another is a product post syndication concept. Neither one seems to be out there right now so..I need to get out of these real estate positions and start working on some different stuff.
This blog is/was mainly meant to sort of be kind of a journal for myself---too many times I cant remember when some event happened I just sort of recall what else was going on at the time of the event----so I figured I would blog it and be able to document these events in a blog sort of timeline.
Anyhow---here is what is going on right now----still sitting on a bunch of real estate--7 houses---that is a pile of cash that is just waiting to be converted. For much of this year with everything in the economy looking kooky----I felt pretty good about having my cash in a hard tangible asset like real estate----I figured even if the economy completely took a dump I was in a better position with real estate than cash or stocks. Well---although the real estate market has stabilized (somewhat) there is still a ton of fear out there from buyers as well as lenders---so the time has come to sell of my inventory of houses.
I had two properties listed in the last 3-6 months and as of yesterday have two of the properties in escrow--now lets close them. Next on my list is a commercial property that I bought about 5 months ago----It has a pretty interesting "Light Industrial" zoning with super freeway access and you can see it from the freeway itself so--this should make a pretty good rental. I have zero interest in being a landlord but, in this case I am going to give it a try---after that sell the ranch. Funny thing is that I spent about 5K in September cleaning the 5 acres of landscaping and gutting the house only to leave the property vacanct for the last two months---I havent even been over there---nutty.
Kids are getting out of school for winter break next week and we are going to the cabin and begin putting our season passes to work--my goal this year is for me to get 30 days of snowboarding---that would make me feel good. I recently bought a bunch of cameras to tape the action of the kids --got a Vhold HD for my helmet and a super small Kodac for my pocket.
OK---I know this was a boring post but, had to get started with something. Next post will be some vids of the kids. I also am working on some tech ideas---one is for a pretty interesting Iphone App and another is a product post syndication concept. Neither one seems to be out there right now so..I need to get out of these real estate positions and start working on some different stuff.
Friday, January 22, 2010
Rambling views on the outdoors and addiction
This post is not going to be about any deals I have done or I am working on--although, I have done a few since the last post. This post is about recapturing passion. I recently turned 40 and somehow I have been thinking less and less about what I have done than what I have not yet done.
Sometimes when people ask "How are you doing?" My reply is "Just living the dream". While I am living a dream sometimes I wonder who's dream I am actually living. Dont get me wrong I would not trade my life or circumstance with anyone that I know but, still the thought of something missing gnaws at me. I have everything that anyone could want--beautiful wife and gorgeous kids. I have an amazing house and everyday I get to choose which of my 3 Porsches, Jeep or BMW motorcycle I will drive that day. BUT,,,,,what is lacking, missing or not yet full?
The funny thing is that I know what I am lacking but, even though everyday I take risks with my money I cant seem to take the risk involved to fill the hole. You want to know what I am talking about? I promise that it is simple but, its those simple things that will drive you mad. This thing I am talking about is adventure. Sailing the seven seas and climbing Everest. I know you were thinking it was something a little more mystical---a little more unobtainable but, a little adventure for me could be a dangerous thing.
I tend to be a little obessive. That may be too harsh a word -------maybe its self determined, ambitious, or single minded. I tend to see the goal and do whatever it takes to get to the goal line-----whatever it is called I have it. I get addicted to the pursuit and just like any addiction I will tune out, ignore or delete the things that get in the way of getting to the goal line. Therein lay my problem. What I need right now at 40 years old is to recapture the adventures that have always been on my to-do list. There has always been mountains that I would like to climb and routes that I have dreamed about completing. I have done plenty of routes and climbed the north face of Shasta and climbed Mt. Rainier. I have not done Denali and I have not done Aconcagua in Argentina. I would love to climb these-----so whats holding me back?
I think what is holding me back is fear-------not fear of the mountain but, fear that climbing or adventure gets a hold of me. I am scared that I will become addicted to peak or the next .........I think that is why I have stayed away from the things I loved when I was younger. I am afraid of falling in love again and ignoring everything else in my life. So--it becomes a question of blending---can a person truly cleave his passion in two equal pieces? Can a person be devoted to two causes simultaneously or does one side of the equation live on life support while the other thrives? In my case--those two pieces are my passion for adventure and my passion & love for my family. Maybe this is all mountain and molehill stuff-----maybe I wont get hooked----maybe....
Well I am going to give it a try-----this summer I am going to redo Rainier and see how it goes. I did it last about 8 years ago--I put together a team and I led the route-----this time I will probably do it the old man way and just hire a guide. I think it will be fun and a great way to rekindle the fire that use to keep me up at nights dreaming.
Sometimes when people ask "How are you doing?" My reply is "Just living the dream". While I am living a dream sometimes I wonder who's dream I am actually living. Dont get me wrong I would not trade my life or circumstance with anyone that I know but, still the thought of something missing gnaws at me. I have everything that anyone could want--beautiful wife and gorgeous kids. I have an amazing house and everyday I get to choose which of my 3 Porsches, Jeep or BMW motorcycle I will drive that day. BUT,,,,,what is lacking, missing or not yet full?
The funny thing is that I know what I am lacking but, even though everyday I take risks with my money I cant seem to take the risk involved to fill the hole. You want to know what I am talking about? I promise that it is simple but, its those simple things that will drive you mad. This thing I am talking about is adventure. Sailing the seven seas and climbing Everest. I know you were thinking it was something a little more mystical---a little more unobtainable but, a little adventure for me could be a dangerous thing.
I tend to be a little obessive. That may be too harsh a word -------maybe its self determined, ambitious, or single minded. I tend to see the goal and do whatever it takes to get to the goal line-----whatever it is called I have it. I get addicted to the pursuit and just like any addiction I will tune out, ignore or delete the things that get in the way of getting to the goal line. Therein lay my problem. What I need right now at 40 years old is to recapture the adventures that have always been on my to-do list. There has always been mountains that I would like to climb and routes that I have dreamed about completing. I have done plenty of routes and climbed the north face of Shasta and climbed Mt. Rainier. I have not done Denali and I have not done Aconcagua in Argentina. I would love to climb these-----so whats holding me back?
I think what is holding me back is fear-------not fear of the mountain but, fear that climbing or adventure gets a hold of me. I am scared that I will become addicted to peak or the next .........I think that is why I have stayed away from the things I loved when I was younger. I am afraid of falling in love again and ignoring everything else in my life. So--it becomes a question of blending---can a person truly cleave his passion in two equal pieces? Can a person be devoted to two causes simultaneously or does one side of the equation live on life support while the other thrives? In my case--those two pieces are my passion for adventure and my passion & love for my family. Maybe this is all mountain and molehill stuff-----maybe I wont get hooked----maybe....
Well I am going to give it a try-----this summer I am going to redo Rainier and see how it goes. I did it last about 8 years ago--I put together a team and I led the route-----this time I will probably do it the old man way and just hire a guide. I think it will be fun and a great way to rekindle the fire that use to keep me up at nights dreaming.
Monday, November 23, 2009
Right about now--
Over the summer I started looking for properties to purchase. foreclosures were up and I smelled some opportunity. I started looking in July and made a few offers in August--got one accepted and closed on my first flipper on Sept. 30. I got a pretty good deal only because I am paying all cash and offering to close in 10 days.
This particluar house is a 5 bedroom 3 bath home in a low income but, clean part of San Diego. My plan is to flip it so I want to do a complete surface renovation as cheap as I am able. I paid 160K for the house and so far I have about 11K into it. I think I can get it done for another 5-7K. The comps in the area range from 240 to 305K. I plan to list it between 260 and 280 and see what happens. I would be happy with 275K-----with net profit of 80K after all expenses (i.e. closing costs, commissions. etc)
Just after this house (La Paz) I purchased an equestrian center. I am very excited about this property. It is a 4BR/2Bath on 5 acres. WOW! It also has a detached 1100 square foot building that is plumbed for a granny flat. I got this place for 260 and so far I am not sure exactly what I am going to do with it. Its in pretty good shape right now and a house just down the road is very similar to mine and is listed for 585K. This one should be a really good deal.
Where I am torn is the sell or rent proposition. If I sell I can make some good quick cash---200 to 250K is pretty good for a few months work but, if I keep the properties and rent them I would be adding wealth to my net worth. The only problem is that I am having a hard time deciding which is better--take the 200K and roll it into another deal or rent it out and be cash flow positive of 1500 a month or so.
Anyhow---the most important line item for me right now is to finish the cabin so that I dont lose any powder days in Big Bear.
will try to keep this updated with pics---that would be great.
This particluar house is a 5 bedroom 3 bath home in a low income but, clean part of San Diego. My plan is to flip it so I want to do a complete surface renovation as cheap as I am able. I paid 160K for the house and so far I have about 11K into it. I think I can get it done for another 5-7K. The comps in the area range from 240 to 305K. I plan to list it between 260 and 280 and see what happens. I would be happy with 275K-----with net profit of 80K after all expenses (i.e. closing costs, commissions. etc)
Just after this house (La Paz) I purchased an equestrian center. I am very excited about this property. It is a 4BR/2Bath on 5 acres. WOW! It also has a detached 1100 square foot building that is plumbed for a granny flat. I got this place for 260 and so far I am not sure exactly what I am going to do with it. Its in pretty good shape right now and a house just down the road is very similar to mine and is listed for 585K. This one should be a really good deal.
Where I am torn is the sell or rent proposition. If I sell I can make some good quick cash---200 to 250K is pretty good for a few months work but, if I keep the properties and rent them I would be adding wealth to my net worth. The only problem is that I am having a hard time deciding which is better--take the 200K and roll it into another deal or rent it out and be cash flow positive of 1500 a month or so.
Anyhow---the most important line item for me right now is to finish the cabin so that I dont lose any powder days in Big Bear.
will try to keep this updated with pics---that would be great.
Wednesday, September 2, 2009
What next?
As usual--too long in between posts. I was busy this summer working on the cabin and trying to have fun with the family. I spent most of July in Big Bear working on the cabin. Its funny how things develop. Here is a quick synopsis.
In June I had a broker guy start putting out blind offers for me on some of these bank owned homes as it looks like the market is heating back up in San Diego--multiple offers over asking price. We got one in late June that I backed out of due to a lengthy repair process. Early July I got into another one from a different agent. This one is pretty good with about 50K in profit and 25 days of work. Just before I pulled the trigger I ran across the proverbial goose that laid golden eggs.
I met this guy who has many deep relationships with asset managers. He says that he can deliver very clean properties with 60-120K profit with almost no work in them. If this guy is legit---this could be huge. We will see. I am meeting him in 45 minutes to put 4 houses in escrow. I will be using my own money on these first ones--they have to be paid in all cash. If we can turn out 10 or so of these I will go back to my bridge fund friends and raise 5-8MM depending on how many properties this guy can provide. I really hope this guy can deliver what he says he can---we will find out this morning.
Dr. Horsepower: Those guys came back with some changes to the company and again want me to head it up. They have a lot of distribution in mexico and the net profit numbers look amazing. They also have an apparel deal in the works that could outshine the beverage piece. OK--looks good--whats the hold up? The snag is that they are undercapitalized and that puts them in a overhead/product squeeze. If I came on----my immediate attention would be fund raising while doing the buildout. Thats fine although, the growth could be so elastic that we could create too much demand out of the gate and not be able to perform on the delivery and service side. I still need to get my head around it.
Other than that----kids started school--sydney doesnt like her teacher but, Hudson loves it. Its sad to see them go off knowing that they will be in school for the rest of their lives. Cabin still has about 15 days of work left. Really looking forward to getting this done and doing some skiing.
In June I had a broker guy start putting out blind offers for me on some of these bank owned homes as it looks like the market is heating back up in San Diego--multiple offers over asking price. We got one in late June that I backed out of due to a lengthy repair process. Early July I got into another one from a different agent. This one is pretty good with about 50K in profit and 25 days of work. Just before I pulled the trigger I ran across the proverbial goose that laid golden eggs.
I met this guy who has many deep relationships with asset managers. He says that he can deliver very clean properties with 60-120K profit with almost no work in them. If this guy is legit---this could be huge. We will see. I am meeting him in 45 minutes to put 4 houses in escrow. I will be using my own money on these first ones--they have to be paid in all cash. If we can turn out 10 or so of these I will go back to my bridge fund friends and raise 5-8MM depending on how many properties this guy can provide. I really hope this guy can deliver what he says he can---we will find out this morning.
Dr. Horsepower: Those guys came back with some changes to the company and again want me to head it up. They have a lot of distribution in mexico and the net profit numbers look amazing. They also have an apparel deal in the works that could outshine the beverage piece. OK--looks good--whats the hold up? The snag is that they are undercapitalized and that puts them in a overhead/product squeeze. If I came on----my immediate attention would be fund raising while doing the buildout. Thats fine although, the growth could be so elastic that we could create too much demand out of the gate and not be able to perform on the delivery and service side. I still need to get my head around it.
Other than that----kids started school--sydney doesnt like her teacher but, Hudson loves it. Its sad to see them go off knowing that they will be in school for the rest of their lives. Cabin still has about 15 days of work left. Really looking forward to getting this done and doing some skiing.
Tuesday, May 12, 2009
One of those days
You ever have those days where it seems like either everyone you come into contact with is crazy? Either they are nuts or you are---the last few days has been like that for me. Those Dr. Horsepower guys Steve Scholl and Jim McCormick have flipped a switch.
On 2/27/09 I posted that I had been meeting with them again--(against my better judgement)---and they again wanted me to run the company and get the company off the ground. I met with them maybe 4 or 5 times and after looking closely at the company it became apparent that they needed some help and my background could be hugely valuable to this enterprise.
We discussed my salary and I told them that if I was going to dedicate more of my time to this project they needed to pay me. That became a problem for them----I am not really sure why but, Jim and Steve kept saying to join the company and just go out and raise your salary. I have no problems raising money but, I would rather join a company that is able to sustain typical overhead and spend my time raising money for growth and operational needs. I have invested in many private placements and it is my opinion that a private raise should not be for executive salaries but, that is just my thinking. It is possible that people are happy to pay someone to try and get a company started. More on this later.
Jumping forward to May 10 or so---out of the blue I get an email from them saying that they read my blog and that I didnt fit the company image because of my height. I was completely stunned. Where were these guys coming from and what prompted them to send that to me I have no idea. It was so crazy it was humorous. I sent the email to some people who were familiar with my meeting with them and asked for some opinions.
After me sending this out-----somebody thought it was funny to begin a blog. I wont give out the address at this time. I wont give it out because now these guys are threatening to sue me. What they are going to sue me for I really dont know. I have closely read the blogs and the items mentioned in it are common knowledge to anyone remotely familiar with the companies operations. All through this process I have never been asked to sign an NDA, non-compete or anything that would bind me to secrecy.
the only thing I can think of is that these guys are scared that during the fund raising process people will begin to ask certain questions that would be difficult to answer. In my opinion these issues are easily deflected because I am sure a paper trail is non-existant. That is if--they ever happened at all. I think they are also concerned about their other venture Dr. Prison.
The moral of the story is to carefully watch whom you try to do business with as you never know who is absolutely nuts and will threaten to sue you later. I hopefully have learned my lesson---and you know what my wife told me all along these guys were a waste of time---I just wasnt smart enough to heed your "womans intuition".
On 2/27/09 I posted that I had been meeting with them again--(against my better judgement)---and they again wanted me to run the company and get the company off the ground. I met with them maybe 4 or 5 times and after looking closely at the company it became apparent that they needed some help and my background could be hugely valuable to this enterprise.
We discussed my salary and I told them that if I was going to dedicate more of my time to this project they needed to pay me. That became a problem for them----I am not really sure why but, Jim and Steve kept saying to join the company and just go out and raise your salary. I have no problems raising money but, I would rather join a company that is able to sustain typical overhead and spend my time raising money for growth and operational needs. I have invested in many private placements and it is my opinion that a private raise should not be for executive salaries but, that is just my thinking. It is possible that people are happy to pay someone to try and get a company started. More on this later.
Jumping forward to May 10 or so---out of the blue I get an email from them saying that they read my blog and that I didnt fit the company image because of my height. I was completely stunned. Where were these guys coming from and what prompted them to send that to me I have no idea. It was so crazy it was humorous. I sent the email to some people who were familiar with my meeting with them and asked for some opinions.
After me sending this out-----somebody thought it was funny to begin a blog. I wont give out the address at this time. I wont give it out because now these guys are threatening to sue me. What they are going to sue me for I really dont know. I have closely read the blogs and the items mentioned in it are common knowledge to anyone remotely familiar with the companies operations. All through this process I have never been asked to sign an NDA, non-compete or anything that would bind me to secrecy.
the only thing I can think of is that these guys are scared that during the fund raising process people will begin to ask certain questions that would be difficult to answer. In my opinion these issues are easily deflected because I am sure a paper trail is non-existant. That is if--they ever happened at all. I think they are also concerned about their other venture Dr. Prison.
The moral of the story is to carefully watch whom you try to do business with as you never know who is absolutely nuts and will threaten to sue you later. I hopefully have learned my lesson---and you know what my wife told me all along these guys were a waste of time---I just wasnt smart enough to heed your "womans intuition".
Monday, May 11, 2009
New Trends
As an investor I am a swing trader. What that means is that instead of looking at fundamentals of a company (stock) I tend to look for swings in the markets. The idea being that if you can jump on a rising tide you can quickly get some upside by following upward ticks and large volume. This is nothing new and really a fairly easy way to capture a few points (percentage points) on your investable money.
In addition to thinking this way about stocks I also think like this about new ventures. My last company www.swppsystems.com was just that. I started this company when two things were rapidly emerging. The first being a huge rise in new housing starts and the second being new laws that were established around storm water. It has been a huge success. With the rapid decline of the housing markets we have also seen a decline in the willingness of municipalities to enforce the laws around storm water. So----
I am always looking for new opportunities and lately I have an interesting convergence between a few things that could prove to be fertile ground for a startup. We all have seen how hugely successful and viral social networking is---facebook with its 50M users and myspace with about half of that. This "social movement" is really a blend of utilizing the internet with its global reach and making it relevant and local to a users wants and needs. We have seen a lot of companies try to do this with content---read citysearch.
The other things that is emerging is P2P (peer2peer) platforms. Five years ago all those bit torrent sites (i.e. napster) were doing p2p stuff with content that is nothing new; but, now P2P is different. We have blended this social movement into a P2P platform that is facilitating all sorts of things---we have social lending and microphilanthropy.
Social lending sites like prosper.com and microphilanthropy sites like donorschoose.com are facilitating inter-personal connections into financial transactions. My question is how far can this go? In 2007 P2P lending was a 700M market. It is projected to be 5B in 2010. While I think 5B is very optimistic there is no doubt that it is a movement that will get larger and larger in the future-------especially as the face of typical banking is rapidly changing and banks are going out of business.
The "swing trade" question is how does one capitalize on this? The easiest thing would be to take one of the more successful business models and introduce it into a different country with a vibrant economy--maybe India or the pacific rim. The other thing would be to take a slice of P2P lending and build it out--maybe focus on real estate or microbusiness loans.
I am not sure at this point but, as with anything timing is critical and its always working against you. Will keep you updated.
In addition to thinking this way about stocks I also think like this about new ventures. My last company www.swppsystems.com was just that. I started this company when two things were rapidly emerging. The first being a huge rise in new housing starts and the second being new laws that were established around storm water. It has been a huge success. With the rapid decline of the housing markets we have also seen a decline in the willingness of municipalities to enforce the laws around storm water. So----
I am always looking for new opportunities and lately I have an interesting convergence between a few things that could prove to be fertile ground for a startup. We all have seen how hugely successful and viral social networking is---facebook with its 50M users and myspace with about half of that. This "social movement" is really a blend of utilizing the internet with its global reach and making it relevant and local to a users wants and needs. We have seen a lot of companies try to do this with content---read citysearch.
The other things that is emerging is P2P (peer2peer) platforms. Five years ago all those bit torrent sites (i.e. napster) were doing p2p stuff with content that is nothing new; but, now P2P is different. We have blended this social movement into a P2P platform that is facilitating all sorts of things---we have social lending and microphilanthropy.
Social lending sites like prosper.com and microphilanthropy sites like donorschoose.com are facilitating inter-personal connections into financial transactions. My question is how far can this go? In 2007 P2P lending was a 700M market. It is projected to be 5B in 2010. While I think 5B is very optimistic there is no doubt that it is a movement that will get larger and larger in the future-------especially as the face of typical banking is rapidly changing and banks are going out of business.
The "swing trade" question is how does one capitalize on this? The easiest thing would be to take one of the more successful business models and introduce it into a different country with a vibrant economy--maybe India or the pacific rim. The other thing would be to take a slice of P2P lending and build it out--maybe focus on real estate or microbusiness loans.
I am not sure at this point but, as with anything timing is critical and its always working against you. Will keep you updated.
Friday, February 27, 2009
Dr. Horsepower saga continues
Dr. Horsepower (DRHP) whom made me CEO of their company last September and then changed the terms in October asked to meet with me last week. They said that they want me back to run the company.
I told them that some things would have to change but, I would consider it. I met with them today and got a look at their financials and deals in progress. I realized there is a huge gap between how I think of a startup and its components than how they currently think. I also got a look at how messy it can be to step into a startup that already has been started.
Here are some thoughts about how to start a startup:
First you need to have a very good team. A team is more important than an idea to prove this go to any VC with a brilliant idea and ask them to sign an NDA---they will blow you off---ideas have no value but, a great team with a mediocre idea certainly has value.
Second: create something that people actually want and do it with as little money as possible. Most startups fail because they failed to do one of these------if you can do well at all three your startup has a good chance at success.
The team is important because business is like your love life---there is always give and take and there must be passion for them to work. If your product is something people want and they derive value from it ---they will seek it out and buy it. That is why a hole in the wall restaurant at the far edge of town will be packed while a "nice" restaurant downtown with marginal food will have to put out coupons to get people in the door. People will go to great lengths to obtain something that gives them value.
The third and most important component (from my perspective) is to do everything with as little money as you can. While expensive (furniture, office space, etc.) looks impressive and says success ------spending unnecessarily can be the kiss of death for a startup.
After that--dig in and never look up until you hit your numbers.
I need to figure out what to do with these energy drink guys.
I told them that some things would have to change but, I would consider it. I met with them today and got a look at their financials and deals in progress. I realized there is a huge gap between how I think of a startup and its components than how they currently think. I also got a look at how messy it can be to step into a startup that already has been started.
Here are some thoughts about how to start a startup:
First you need to have a very good team. A team is more important than an idea to prove this go to any VC with a brilliant idea and ask them to sign an NDA---they will blow you off---ideas have no value but, a great team with a mediocre idea certainly has value.
Second: create something that people actually want and do it with as little money as possible. Most startups fail because they failed to do one of these------if you can do well at all three your startup has a good chance at success.
The team is important because business is like your love life---there is always give and take and there must be passion for them to work. If your product is something people want and they derive value from it ---they will seek it out and buy it. That is why a hole in the wall restaurant at the far edge of town will be packed while a "nice" restaurant downtown with marginal food will have to put out coupons to get people in the door. People will go to great lengths to obtain something that gives them value.
The third and most important component (from my perspective) is to do everything with as little money as you can. While expensive (furniture, office space, etc.) looks impressive and says success ------spending unnecessarily can be the kiss of death for a startup.
After that--dig in and never look up until you hit your numbers.
I need to figure out what to do with these energy drink guys.
Tuesday, February 3, 2009
another post
I need to be more disciplined with this blog. I have started on some home projects --first a retaining wall--about 120LF of country manner block--it came out really nice. My hope was to pour a concrete pad in the horse corall and put in a car lift to store my race car and work on the cars. Here it is.
After the wall I started on a fireplace that quickly escalated into an outdoor kitchen. Here you can see the bar and on the other wall is another countertop.
With all of this I have not had a chance to get back to the cabin and I am looking forward to getting back up there. We went up there over the Xmas break and Sydney and Hudson went skiing for the first time---Hudson ripped--the whole mountain was looking at this little guy carve beautiful lines down the bunny slope. Fun.Until this outdoor stuff gets done I am kinda house bound so the contractor doesnt screw it up.
Monday, December 15, 2008
so now December 13 I am back. The only reason that it takes me so long in between posts is that I get so caught up in my day to day ops.
Last month I had a week or so that I didnt work on the cabin due to cabinet delivery. I used that time to pour some concrete in my driveway (I had a crack in it). while I was in the middle of that I had one of my guys do some grading in my patio and then I had an idea----why not put in an outdoor fireplace------so I had a guy build a wall --It is about 50 feet or so long.
Then I thought to myself---why not put in another wall in my horse corral and put in a car lift? So I had some guys start that. I am still in the middle of those projects. I also am having the tile done in two bathrooms-----talk about a whole house makeover in 6 weeks! I am doing it because nobody is working right now and labor is really cheap so I figured why not do it now?
Oh yeah--I also bought a new truck --an 08 ford f250 KING RANCH (yeaah) and an 04 jeep sahara for the cabin. I should have the truck and jeep some time this week as the truck is coming from TX and the jeep is coming from N. Carolina.
Now for the fun stuff---BIZ:
Last week was exciting. I looked at a deal that the fed was auctioning off---73 Million in debt in 9 housing developments in 6 locations. The deal consists of 44 complete houses----16 partial houses --543 finished lots ranging from 7K SF to 9KSF. There are also 403 paper lots (not yet graded dirt). Indymac and M&I banks were carrying 73 million in debt that was completely non-performing. We looked at the deal and offered them 5.2 million for the projects ---they TOOK it! There are 6 of us doing the deal and we intend to sell off the houses for 140-150K each which should net us 6.6Million-----we get paid back and have 1.4 or so left over. We are going to create a slush fund to maintain the lots until we can find a buyer for them. Hopefully we can get 20-30K a lot which is the cost to develop the dirt--------lets see 543 lots times 25k Equals 13,575,000! and we still have the paper lots. I wont say out loud how much of the project I own but, it should be a pretty good deal for all of us.
will keep everyone updated-----or hey if you want to buy 10 lots around Yuba city where my good friend Randy J lives let me know---I have some I can sell.
Last month I had a week or so that I didnt work on the cabin due to cabinet delivery. I used that time to pour some concrete in my driveway (I had a crack in it). while I was in the middle of that I had one of my guys do some grading in my patio and then I had an idea----why not put in an outdoor fireplace------so I had a guy build a wall --It is about 50 feet or so long.
Then I thought to myself---why not put in another wall in my horse corral and put in a car lift? So I had some guys start that. I am still in the middle of those projects. I also am having the tile done in two bathrooms-----talk about a whole house makeover in 6 weeks! I am doing it because nobody is working right now and labor is really cheap so I figured why not do it now?
Oh yeah--I also bought a new truck --an 08 ford f250 KING RANCH (yeaah) and an 04 jeep sahara for the cabin. I should have the truck and jeep some time this week as the truck is coming from TX and the jeep is coming from N. Carolina.
Now for the fun stuff---BIZ:
Last week was exciting. I looked at a deal that the fed was auctioning off---73 Million in debt in 9 housing developments in 6 locations. The deal consists of 44 complete houses----16 partial houses --543 finished lots ranging from 7K SF to 9KSF. There are also 403 paper lots (not yet graded dirt). Indymac and M&I banks were carrying 73 million in debt that was completely non-performing. We looked at the deal and offered them 5.2 million for the projects ---they TOOK it! There are 6 of us doing the deal and we intend to sell off the houses for 140-150K each which should net us 6.6Million-----we get paid back and have 1.4 or so left over. We are going to create a slush fund to maintain the lots until we can find a buyer for them. Hopefully we can get 20-30K a lot which is the cost to develop the dirt--------lets see 543 lots times 25k Equals 13,575,000! and we still have the paper lots. I wont say out loud how much of the project I own but, it should be a pretty good deal for all of us.
will keep everyone updated-----or hey if you want to buy 10 lots around Yuba city where my good friend Randy J lives let me know---I have some I can sell.
Friday, October 31, 2008
Oh man--last post was july 23--way too long.
I have missed August, September and Ocotber. I will blast thru what has happened. On the business front--Pinnacle Realty and my buddy Tim Eppler formed a new company COF capital and we did a 10MM bridge loan in Aug and another 12.2MM bridge for Nehemiah in September. With the interest earned from those last 2 months I hit my yearly nut--thank you Nehemiah.
As you know I have been in talks with Dr. Horsepower to take the CEO spot. Sometime late August I told them that I would take the position. I spent a lot of time in between working on the cabin re-thinking a lot of what they had already done. re-doing company focus and realiging corporate structure. Everybody was pumped and we even went to the firm's law firm to announce that I would be taking control. Right at the last moment when I had decided that we needed to raise 5MM for first year operations----I started asking them for all the details on the deals they have done and are in the works---two weeks go by and I dont get the information. I was thinking something was a little weird and when I started pushing them they got a little screwy and started saying that we needed to close my deal before they gave me the details. And then it happened----they changed the deal. These crazy guys wanted to give me the company for 3.7MM dollars and 50% of the net profits. They even asked for a board seat! I was shocked that these guys turned a start-up into a sale. They were getting nervous that if they put me into the drivers seat that somehow I would eventually push them out----so they were trying to put this huge collar around my neck so that they could always ensure thay they got paid. Needless to say I walked away and then they started to get a little nasty. I will tell you that without me or someone like me they are sunk. They are too old and too late for the market.
On the cabin---I have been working feverishly to get my combo inspection which will allow me to start doing drywall. I finally got it last week October 26. Drywall is going in now and I hope to have the cabin done (or mostly) by the end of November.
In november I am going to spend the bulk of my time on the cabin and focusing on legally reducing my taxable income. I need to spend some time with my accountants.
In december I am going to be figuring out what I am going to do in terms of business for 09'. The building market is still doing poorly and that will not change in 09. I will keep BNT erosion control corp. open; although it costs me about 100K a year to keep it operational. I am hoping some of my competitors will be going under and I hope to capitalize on their failings when that happens. Pinnacle and COF has been talking with me about joining the firm as an investment banker working on distressed portfolios----In the next few weeks I am going to start looking at that option more intently.
Thats it! Its halloween and we are having some people over tonight---we were late in telling people so we will see how it comes out.
I have missed August, September and Ocotber. I will blast thru what has happened. On the business front--Pinnacle Realty and my buddy Tim Eppler formed a new company COF capital and we did a 10MM bridge loan in Aug and another 12.2MM bridge for Nehemiah in September. With the interest earned from those last 2 months I hit my yearly nut--thank you Nehemiah.
As you know I have been in talks with Dr. Horsepower to take the CEO spot. Sometime late August I told them that I would take the position. I spent a lot of time in between working on the cabin re-thinking a lot of what they had already done. re-doing company focus and realiging corporate structure. Everybody was pumped and we even went to the firm's law firm to announce that I would be taking control. Right at the last moment when I had decided that we needed to raise 5MM for first year operations----I started asking them for all the details on the deals they have done and are in the works---two weeks go by and I dont get the information. I was thinking something was a little weird and when I started pushing them they got a little screwy and started saying that we needed to close my deal before they gave me the details. And then it happened----they changed the deal. These crazy guys wanted to give me the company for 3.7MM dollars and 50% of the net profits. They even asked for a board seat! I was shocked that these guys turned a start-up into a sale. They were getting nervous that if they put me into the drivers seat that somehow I would eventually push them out----so they were trying to put this huge collar around my neck so that they could always ensure thay they got paid. Needless to say I walked away and then they started to get a little nasty. I will tell you that without me or someone like me they are sunk. They are too old and too late for the market.
On the cabin---I have been working feverishly to get my combo inspection which will allow me to start doing drywall. I finally got it last week October 26. Drywall is going in now and I hope to have the cabin done (or mostly) by the end of November.
In november I am going to spend the bulk of my time on the cabin and focusing on legally reducing my taxable income. I need to spend some time with my accountants.
In december I am going to be figuring out what I am going to do in terms of business for 09'. The building market is still doing poorly and that will not change in 09. I will keep BNT erosion control corp. open; although it costs me about 100K a year to keep it operational. I am hoping some of my competitors will be going under and I hope to capitalize on their failings when that happens. Pinnacle and COF has been talking with me about joining the firm as an investment banker working on distressed portfolios----In the next few weeks I am going to start looking at that option more intently.
Thats it! Its halloween and we are having some people over tonight---we were late in telling people so we will see how it comes out.
Wednesday, July 23, 2008
I have sent V.1 of my blog to a few friends asking them what they think. The response has been "What is your blog about"? To put some clarity on that issue----the blog is just about what I have been doing. It is not about my business, social, hobby or family life. It is simply about my daily/weekly activities. This is meant to be a quick update for anyone I have not touched in the last few weeks. Think of this as a quick "update" phone call. Although, I do think that it will be business centric as this progresses. If any readers would like to hear more about any one topic than another just drop me an email or post a comment and I will elaborate.
Back to the blog:
This weekend Hudson wanted to go fishing so I took him to Lake Murray. Lake Murray is a medium sized lake its about 10 minutes away from me and has about 85 acres of surface water. Brandy got him a "Rocket Rod"--I am sure you have seen it on TV and he wanted to try it. You load it and it shoots your bait about 25 feet or so. We fished on the dock for anything that would bite and he got some bluegill. After going to the dock Sat and Sunday (he loved it) I realized why people buy boats. The dock was full of people that you would not want to mow your lawn. Think of the local county fair at 11pm. The worst of the bunch were dirty Hmongs fishing for catfish. I dont know why but, Hmongs just seem to be a crude people---talking loud, smoking and picking their nose any chance they get. I might rent a boat next time.
Sydney wanted to go and I took both of them on a half day fishing boat on Monday. It was a pretty good time------they both caught at least 5 fish each with Hudson taking the prize with a 5lb Barracuda.
Friday, July 18, 2008
I have been in the mountains for a week working on the cabin It is coming along nicely and will begin stucco next week. Hopefully it is all down hill from here.
When I got back I checked on the deals I have been doing. I am working on a 10MM bridge loan with friend of mine (Tim Eppler). We loaned Nehemiah Corp. 10MM for a 4 month term. I only raised 1.75MM, Tim raised approx. 6MM and we got another 2MM from a canadian private equity firm. We are getting our interest paid monthly and in June I netted 78K with another 17.5K bump for participating. I am looking forward to July's payment.
Dr. Horsepower ended up giving me 20K shares for my private placement memorandum. 20K for a few days brain work is not bad; hopefully they can make something of the company. They came to me today and wanted me to buy either a race car or a Navigator for promotion purchases. They will make the payments and I get half the cars value in shares.
Airi.ob is still languishing. For those of you--who do not know--that is a private placement I did a few years ago. They were successful in going public on the Bulletin Boards and have grown from 36MM in revenue to a run rate of 80MM annual revenue. We are still looking for them to close an acquisition called Blair HSM. That should significantly boost the PPS but, it has been very slow in coming along. Once Blair closes the company should reverse split the stock and get a listing on the Nasdaq or Amex. Hopefully the CEO can get this done quickly.
Aperto private placement has been very quiet but, apparently are considering some offers at this point. I will keep you updated.
On the race car front----nothing new except that I am taking my Porsche in to get painted today. I am thinking of doing it in either a WRX Blue or a Davey Green. I am supposed to drive Laguna Seca in August but, my brother in law is getting married that same weekend. I am not sure which event I will miss.
My new son Blake is 2 months old and is a champ. Sydney and Hudson are getting more interesting everyday.
When I got back I checked on the deals I have been doing. I am working on a 10MM bridge loan with friend of mine (Tim Eppler). We loaned Nehemiah Corp. 10MM for a 4 month term. I only raised 1.75MM, Tim raised approx. 6MM and we got another 2MM from a canadian private equity firm. We are getting our interest paid monthly and in June I netted 78K with another 17.5K bump for participating. I am looking forward to July's payment.
Dr. Horsepower ended up giving me 20K shares for my private placement memorandum. 20K for a few days brain work is not bad; hopefully they can make something of the company. They came to me today and wanted me to buy either a race car or a Navigator for promotion purchases. They will make the payments and I get half the cars value in shares.
Airi.ob is still languishing. For those of you--who do not know--that is a private placement I did a few years ago. They were successful in going public on the Bulletin Boards and have grown from 36MM in revenue to a run rate of 80MM annual revenue. We are still looking for them to close an acquisition called Blair HSM. That should significantly boost the PPS but, it has been very slow in coming along. Once Blair closes the company should reverse split the stock and get a listing on the Nasdaq or Amex. Hopefully the CEO can get this done quickly.
Aperto private placement has been very quiet but, apparently are considering some offers at this point. I will keep you updated.
On the race car front----nothing new except that I am taking my Porsche in to get painted today. I am thinking of doing it in either a WRX Blue or a Davey Green. I am supposed to drive Laguna Seca in August but, my brother in law is getting married that same weekend. I am not sure which event I will miss.
My new son Blake is 2 months old and is a champ. Sydney and Hudson are getting more interesting everyday.
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