I had the opportunity to go up to Llano, Texas this past Thursday to look at a piece of ranch land that was the underlying asset for an owner financed real estate note. The note owner sold the property using owner financing. He received a 20% down payment, the note had an interest rate of 10% and was amortized over 15 years. Additionaly there were 3 and 1/2 years of payments all paid a week before the due date. The payor, a cattleman, set up the payments to auto debit his account each month directly to the note owner’s account. This note is an investor’s ideal type of note. What made the process even easier was the note owner set up a seperate banking account for the note’s activities and only the note’s activities were in the account. When I requested a payment history, the note owner was able to ask the bank for a deposit report and in no time I had all 3.5 years of payments. For a note professional it was very easy to verify all 3.5 years of payments when all I really needed was the last 18 months. The title policy was in place and had the right amount of coverage. Great Note! After all the i’s were dotted and ts crossed The Texas Note Company was able to offer top dollar to the note owner for his note, 92 cents on the dollar. Very quick and easy transaction. But that is not the story I am hear to tell. Now I went to Llano, Texas on business but what I saw just East of Llano is the real story.
Llano, Texas is 75 miles North West of Austin on highway 71. Takes little over a hour to get there from the Texas Note Company office. Once you get to Llano you take a right(East) on highway 29 in the middle of town. After about 8 miles there on the right is where you will find a Blald Eagle’s nest. It is pretty hard to miss as there are signs that say pedestrians in the area and usually there are several people there with cameras and binoculars. The nest is about 120 yards from the road.
The nest contains a two adults and a pair of large Eaglet chicks estimated to be about 12 weeks old. They will probably remain in the nest through March. Bald eagles are not an uncommon sight in Texas, particularly around lakes and streams where they feed primarily on fish and waterfowl during winter months. A few of the onlookers there told me they also follow a pair of Eagles around Waco area on lake Waco.
I was amazed at how beautiful those birds are. At one point I was looking through the telescope and one of the adults sitting on a limb glanced in my direction. His eyes were ever so piercing, as their eyesight is so keen and steel blue. The white head and the yellow beak were very striking, just an amazing animal. While we were there one of the adults left the nest and flew off east down the Llano River. About 15 minutes later the adult returned with a fish in his mouth which he gave to the Eaglets to fight over. They promptly ate the fish right away. We stayed for about an hour looking and admiring our Nation’s bird.
If you have not had the chance to see in person a Bald Eagle nest I highly suggest the one in Llano. This is the sixth year that the eagles have come back to this location to nest for the winter. Often Eagles nest along a lake where it is hard to get a look at them. Here they are along the Llano river and along HWY 29. It is a great day trip if you live in the Texas Hill Country.