695 Riverview Drive
Summary: 9-unit apartment building near Columbus, Ohio and Ohio State’s campus that I bought with my brother, Thad. It is managed by Renting Ohio since April 2014.
- In October, electrician John Kelly completed all electrical work required for compliance with the aluminum wiring in the building. It was expensive–about $4600–but had to be done and now it can easily and effectively be maintained by hiring electricians qualified to work with aluminum.
- Switched from a dumpster in the front yard to much more sightly–and less expensive–bins for trash removal.
- For the months May-December that Renting Ohio has been managing the property, we averaged 13% vacancy. This counts for 2 months of unpaid rent as vacancy. This tenant is being evicted.
- December 2014 was the first month with no unscheduled maintenance fees.
- With two new leases signed, we stand to be fully occupied 1 February!
Shiloh’s Five Loaves is a gluten-free bread company based in Raleigh, North Carolina. Devaunt LeClaire of Kineomen is the business brains behind the operation while his brother is the baker.
- On schedule to deliver its first loaves of bread to Raleigh-area stores in February!
I became a Kineomen investor in November. Shiloh’s Five Loaves is Kineomen’s only investment project to date. More to follow.
Coconut Wine (Vino de Coco)
- No update. The company is doing well (I think), but not pushing information to investors. Seeking repayment of loan.