All Forum Posts by: Jimmy Campbell

If you would like to talk, pm or email me and we can chat offline.  Thanks. 

The "Rock Hill" sub-group is having to relocate.  The group meets on the first Wednesday of each month.  Beginning in August, the new location, perhaps requiring a new name, will be 4607 Charlotte Hwy, Suite 3, Lake Wylie, SC 29710.  Time still remains the same, 6:30 pm.  Hope this helps but if you have further questions, please feel free to PM me.

Maybe check out ProTitleUSA.

Ian, We found recently there can be many challenges with getting "investment property" loans. We use local, small banks which provide us the best deals. These are "commercial" type loans with a balloon, so we have to periodically refinance the loans. However, to simply role the loan is a nominal fee which is very minimal and not a big deal. The smaller banks allow us to use our LLC, but still look into our personal finances and tax returns. Others have refused our LLC and put us through the same levels of paperwork and scrutiny as if purchasing a primary residence, the Freddie/Fannie, etc... rules which must be met. One challenge with locals and small, they will only lend within a certain geographical area. But I would definitely recommend checking small locals. We have found them much more friendly.

Hey Travis.  We only have the one property in that area.  Did also find someone to manage the house so all is going good so far.  What has been your challenge in getting into real estate in the area?

Tenant.  I have been down that road of paying utilities for a tenant in the past and it doesn't work for me.  

No sir, I did not do the roof since it appeared to be in fine shape.  As for the age of it, I could not be positive.  We took the house through foreclosure in 2014, reworked it in 2015, and leased it.  Now it has seasoned for a period, we are ready to sell.  We buy and sell notes, which can lead to foreclosures, which of course can lead to ownership.  Part of our model is to rehab, rent, and sell with tenant and management.  Please let me know if any other questions.  We also have a couple of performing notes in Charlotte NC for sale, as well as a house in the Poconos of Pennsylvania which is about to be finished and listed.  Thanks for your inquiry. 

4112 38th Ave, Birmingham, AL 35217
Tenant occupied, under professional management. Current lease in place until September 2016.
Home remodeled in 2015. HVAC/duct work, water heater, paint, flooring, appliances, doors, bathrooms. 

Basement water seal painted May 2016.
List Price: $42,000.00  12% CAP;  Rent: $550/mo., Taxes: $45/mo., Ins.: $30/mo., Management 10%, No HOA

Welcome Andy.  We are in Rock Hill.  There is a group that meets at Golden Corral restaurant in Rock Hill, first Wednesday of each month.  Might make some friends.  Let us know if anything we can do to help.

NOTE 1: Newly created note in Charlotte NC. Borrower is an established local investor. Note has an excellent LTV of 51.3%.

Unpaid Principal Balance: $30084.65, Est. Property Value: $58500.00,

Property Valuation Date: 3/3/2016

Address: 2835 Capitol Dr | Charlotte | NC | 28208

Original Loan Balance: $30250.00, Interest Rate: 8.0%, Balloon Pmt: No,        Amortization: 10 years
Note Payment: $367.02, Last Payment Date: 3/10/2016, Origination Date: 2/11/2016, Maturity Date: 3/2026
Deliquent Taxes: none, Note Position: 1st, Property Type: Single Family, 616 sq.ft.
Tenant Occupied, Monthly Rental Income: $695.00

NOTE 2: Newly created note in Charlotte NC. Borrower is an established local investor. Note has an excellent LTV of 51.6%.

Unpaid Principal Balance: $31775, Est. Property Value: $61900,

Property Valuation Date: 3/3/2016

Address: 621 Chicago Ave | Charlotte | NC | 28203

Original Loan Balance: $31950, Interest Rate: 8.0%, Balloon Pmt: No,

Amortization: 10 years
Note Payment: $387.64, Last Payment Date: 3/10/2016, Origination Date: 2/11/2016, Maturity Date: 3/2026
Deliquent Taxes: none, Note Position: 1st, Property Type: Single Family,

702 sq. ft.
Tenant Occupied, Monthly Rental Income: $650.00

Pictures