173 It’s A Lucrative Time In The Real Estate Market | Passive Accredited Investor Show w/ Jim Sheils
Join the Carolina Capital team every Thursday at 1 pm ET for the Passive Accredited Investor Show!
Today, Bill Fairman, Wendy Sweet, and Jonathan Davis were joined by Jim Sheils, Founder of JAX Wealth Investments to discuss note funds and the current market!
At JAX Wealth Investments, they have created a rock-solid process that will get you the things you want in life, and they are here to help you every step of the way.
They use their 20+ years of experience and their inventory of profit-producing properties to get their partner’s equity growth to build up for retirement, as well as a cash flow to meet your current passive income needs.
0:01 – Introduction: “ Let’s talk about, rentals, build to rent & eviction moratoriums! ”
1:41 – Wednesday with Wendy: https://calendly.com/wendysweet/wednesdays-with-wendy?month=2021-09
2:19 – Today’s guest: Jim Sheils
5:18 – Jim Sheils’ property management company
7:05 – It’s an interesting time in the real estate market
9:03 – No rent issues with Jim Sheils’ house renting model
10:57 – Invest in landlord-friendly states
12:13 – The “five-factors” to look for when looking for an area to invest in real estate
14:15 – How hard is it to find and affordable land to build subdivisions?
16:50 – What are some of the most and least landlord-friendly states?
20:06 – Landlords that need help
21:06 – Jim Sheils’ real estate business plans for the coming years
Carolina Capital is a hard money lender serving the needs of the “Real Estate Investor” and the “Small Builder” borrower who is striving to build wealth and generate income for themselves and their families. We offer “hard money rehab loans” and “Ground-up Construction Loans” for investors only in NC, SC, GA, VA, and TN (some areas of FL, as well).
As part of our business practices, we also serve as consultants for investors guiding them to network with other investors and educating them in locating and structuring transactions. Rarely, if ever, will you find a hard money lender willing to invest in your success like Carolina Capital Management.
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Bill Fairman (00:01):
Hi everyone! Jonathan and I are always scrambling to see when we’re going live. Yes, I’m very bright over here. As you can tell.
Jonathan Davis (00:14):
You’ve always been a bright guy.
Bill Fairman (00:14):
Our windows in the second story building are at our feet and there’s a white vehicle parked right below this and reflections coming up and turning me into a ghost. Anyway, thank you so much for joining us on the Passive Accredited Investor Show. You guys curious about a rental, build or rent, how’s it going with the moratoriums.
Jonathan Davis (00:45):
Bill Fairman (00:46):
Evictions and that type of thing. We’re going to get to that and we have a great guest right after this.
Bill Fairman (01:09):
I’m obviously bringing my, A game to the show today. Thank you so much for joining us on the Passive Accredited Investor Show. We are Carolina Capital Management, where lenders in the Southeast real estate investors. If you’re interested in borrowing money, go CarolinaHardMoney.com and click on the apply now tab, if you’re a passive investor looking for passive returns, then click on the accredited investor tab. Don’t forget to like share subscribe, hit the bell. And don’t forget to sign up for Wednesday with Wendy because she gives up 30 minutes to each person on Wednesdays to talk about anything real estate. Her link would be over there in the chat on the side or underneath it, depending on what platform you are viewing us right now, Wendy is, I just checked the calendar, in September, she’s completely full. So she’s not gonna have any time left until October. So you better sign up quick.
Jonathan Davis (02:08):
Is that Wendy?
Bill Fairman (02:08):
And there’s Wendy logging in from the road. Do you miss me? The answer is of course we do!
Bill Fairman (02:16):
So one of the great things about being involved in different masterminds and communities is that we get to surround ourselves with not only top notch, people with people that turn out the, in the end to be really good friends. And I love to say that about Jim. He’s an awesome guy, Jim Shiels, with the Jacksonville investments. He’s got a great business model. One of the things Jonathan and I always talk about, you need two things in any economy, you need food and you need shelter. And Jim helps provide that shelter and passive investments for real estate investors as well.
Jonathan Davis (02:58):
Bill Fairman (02:58):
So Jim, come on out of that green room and throw away those green m&ms by the way,
Jim Sheils (03:04):
Hey guys, how’s it going? Good to see you.
Bill Fairman (03:07):
It’s so good to see you. Thank you so much for being on the show. I’m jealous because you have a nice little place in Costa Rica now and you get to go there when it’s wet. When it’s too cold in Jacksonville, you get to go to Costa Rica
Jim Sheils (03:25):
And I have every confidence Bill you’re fully invited. People will laugh at your jokes in Costa Rica, just as much as they do in Florida.
Bill Fairman (03:34):
Thank you, Jim. It’s a little inside secret. We have a, well, it’s not a secret. It’s just an inside joke. They have a little drinking game on our fit meetings where every time I tell a joke and I laugh at it myself, how many times are you going to laugh from the joke? The thing about it is I have to coach people to tell them, yeah, that was funny. Go ahead and laugh.
Bill Fairman (04:01):
See? I didn’t laugh.
Jim Sheils (04:01):
I laugh just now, see? It’s give and take.
Bill Fairman (04:01):
So the first thing I got to ask is how’s business doing?
Jim Sheils (04:16):
Business is good. Look, I’ll take a little luck when it comes our way though, we came to Florida years ago because you know, mentors of mindset follow the baby boomer growth migration, you know, and Mormon by the water was where he wanted to be. I was in California and left there wasn’t the most landlord friendly. It wasn’t the most business friendly. It wasn’t the most economic, you know, when it came to the price of the housing. So we’re in Florida and I’m very happy to be. So that’s been a lot of our, you know, being in build to rent where we build new property for investors and tenants, you want to be where there’s growth. You want to be aware. There’s favorable terms for landlords and Florida obviously is the number one exit state in the country right now. So although we had growth before the pandemic, the pandemic has really shine light on us in a lot of ways that weren’t expected. And we’re feeling the positive brunt of that with growth migrations, more demand for housing and more investors wanting to be here.
Bill Fairman (05:17):
The last show we had, we were discussing the eviction moratorium and how Supreme court said that CDC can’t extend it either. But again, they appeal it. So it’ll take a little while to get that through. What kind of, and you guys don’t have a property management company as well, right?
Jim Sheils (05:39):
Yeah. We have a property management company. My building partner owns the management company. That’s managed my own personal portfolio and our investors. And we’ve watched this very closely, Bill. It’s been very surprising as you said, the CDC does not have the jurisdiction to do what they’ve been doing. So, but we have to go through processes to get it reversed. Luckily, it’s a state by state thing. And I know in you and I have had conversations, certain states are standing up to that stronger than other states. So I think it’s really important for investors to see where they’re investing in that state and rent moratoriums, the same thing. Unfortunately, certain states are very prepared to take away the rent payments from the small hardworking landlords, but they’re not putting more tutorials on the mortgage payments through the large banks.
Jim Sheils (06:24):
They’re not putting moratoriums on the insurance payments or insurance premiums. You owe it to your insurance company to protect that property. And God forbid, they were going to put a moratorium on the property taxes that are opposed. I don’t think we’re going to see that. So when that comes up, you know, those, that’s a pretty serious situation. Luckily here in Florida, we’ve had some moratoriums, but there is still ability to evict there’s villi ability to scream very well. Unlike certain certain states where men, some of my friends are really struggling and I do feel for them. And it’s something that you have to watch now that none of us knew we were going to have to consider really, in our investing strategy.
Jonathan Davis (07:05):
I mean, we have vacant properties that we’re trying to foreclose on right now, vacant. They’re not even completed. And Mecklenburg county has already kicked the bucket three months now for no reason at all. And again, houses are vacant.
Bill Fairman (07:21):
They’re just pushing it back because they don’t have the, I guess they don’t have the personnel and the courts are so backed up. I don’t know what the reasons are. They won’t give us one, they just keep pushing our Courtney’s bench. So even if you’re the lender and you’re having the foreclosure, you have issues. I mean, I understand that if these homes were occupied and you were worried about kicking people out, but they’re not even completed. And then of course we get notices that we have to go in there and take care of the property, but we don’t own the property because it hasn’t gone through foreclosure yet.
Jim Sheils (07:58):
Yeah. So you’re in that in-between phase, it’s a very interesting time again, but you have to be diligent. You know, I really feel for the mom and pop landlords in certain areas and states where they look, they signed up just to have a property. They didn’t know, they’d be, you know, this is pretty, this is pretty complex stuff, not the, who is the CDC, why are they involved? Can they be involved if you know, how can you work through these things better? How can you push the ball down the hill a little bit faster than, than most people? I mean, there are some real technicalities here. So it’s a different time for real estate investment. I think it’s a very lucrative time. I think if you’re in the right thing and you get the right systems in place to be able to handle these, a lot of people are gonna fall off. Obviously the stay at home mandates have made the place. You stay at home pretty favorable and where people want to spend money. And we’ve all seen in this, you know, increase in values, this increase in sales activity. But there are definitely some new rules to the game.
Bill Fairman (09:02):
Well, I would say in your particular model and correct me if I’m wrong, you don’t really have the rent issues that some other places would have. Number one, you’re a tenant clients are a little higher on the economic scale than in some other areas. And, you know, they’re paying their rent. Wouldn’t you say?
Jim Sheils (09:28):
They’re paying their rent. We do not have a big default rate right now on rents, which is great. We’re also being able to screen right from the get-go remember we’re building these new, so there’s not a lot of turnover in the rentals that we have and the properties that are being built. We’re starting from scratch and let’s face it if in certain states and then go, I know it changes county by county, too. But in areas where the eviction laws still stand and have not been just completely removed, people are more likely to pay rent. You know, it’s kind of, you know, when you put certain parameters or discipline around your kids or anything that you work with, I think that having, you know, removing these completely just opens up for some really, really bad irresponsibility.
Jim Sheils (10:18):
So we’re lucky. Again, with most of the Florida has kept some, you know, some discipline around, I mean, we’re, we’re talking pretty simple checks and balances. If you live in a property and you’re receiving government money and we can ask to see if you’re still working, then you should be able to still pay rent. And if you have COVID no problem. Could we just get a COVID test? But some places you can’t do that, you can’t do any of that. And that’s really a problem. So I think that’s again, you know, just know your backyard. Know the playing field you’re on and what the rules are right now for your certain area.
Bill Fairman (10:56):
Yeah. We preach about that all the time about if you’re going to invest in real estate, make sure you’re in investing in landlord friendly states.
Jim Sheils (11:06):
Yeah. Never been more important, never been more important than now though.
Jonathan Davis (11:11):
I know a lot of people like, is it a deed of trust state, or it’s a mortgage state? And they look at that for the speed of a foreclosure taking a product back, but there’s so much more than just that aspect. And sadly, a lot of it is political, but
Bill Fairman (11:25):
Yeah, we’re pretty fortunate right now that wehave the ability through different software and algorithms that we can figure out where the low crime areas are the average income of the person or the people that are going to be in certain areas. The migration patterns, the country, and we should be able to really target where we want to put our investments. And those are going to be in growing areas that are lower cost of living than, you know, most of the areas. Am I going to add to the freedom, but people have more freedom in certain areas than others. And, uh, it’s all about the quality of life, areas. Speaking of which, you’re not just in the Jacksonville area, you’re in multiple areas in Florida.
Jim Sheils (12:19):
Yeah. We started in Jacksonville because that’s where we, you know, we did both foreclosures, both me and my building partner for many years. And then about seven years ago, if you guys remember the bulk foreclosures started to dry up, you know, there there’ve been these, these nice media stories about this shadow inventory that would be come up. Do you remember shadow inventory? That finding was this shadow inventory never came there like thousands of houses, the banks were holding back and in each area just wasn’t true. Then come the week, we were starting to really fight over these fixer uppers. And we just said, well, why don’t we try to build? And so, you know, that was seven years ago, we built about $3 million worth of investment property. And last year we did 125 million in new contracts. So it grew quickly, but that starting point bill was in Jacksonville where we knew our stuff.
Jim Sheils (13:11):
And then we branched slowly out to Ocala and Palm coast in citrus county and then six different markets down in Southwest Florida. These, all these areas had the five factors. We look for population growth, economic growth, a good affordability index, which means what’s the average salary compared to the average price of houses. You know, it was desirable. There were things, lifestyle, and people want to live there and healthy supply and demand. You know, there was a selfless motor, for example, they were, but it’s unwanted down there. They were already three years behind on needed rental inventory. That was really to our advantage since we already had building a track record and reputation other areas that was good and was able to go in. And again, we’re just providing with the wind at our back. There’s so many people moving to Florida now. We didn’t want to put too much pressure on one market like Jacksonville, but we wanted to go into areas of Florida that were also experiencing that high growth and have those five factors. So we’re in about, yeah, about 12 different markets now.
Bill Fairman (14:10):
I do have a question from Sarah, but I’m going to get to that in just a second. With the prices of everything going up, and I’m not talking just about building materials and labor and that type of thing as popular as Florida has gotten, what are you doing about, how hard is it for you to find affordable land, to start building subdivisions in?
Jim Sheils (14:35):
Land is hard right now for a lot of people, you know, the IMN conference was a few weeks ago in Miami and there were a lot of the big hedge funds institutions. They’re saying they’re getting into build to rent. They had tons of money. It was funny though. They couldn’t find any land. So they’re trying to go off of just basic resources. And, and then at the same time, they’re also paying too much and they can’t make the numbers work. And it’s also hard to find people to build for you right now. What we have, Bill is we have a 14 person team that does, we have an off-market system to identify tracks of land and spot lots, you know, existing lots in already established neighborhoods that aren’t on the market. That’s been very, very advantageous to us and has really kept us strong.
Jim Sheils (15:24):
In fact, we have one of our strongest lot buying months ever in the month of July. And that’s most of that came from an off-market system, which is not easy to put together hats off to my building partner who really spearheaded that but that’s an important part of this. If you can’t find the land and find it at the right price, how are we going to be able to build a property where we can make a small margin, they can also get into a cash flowing property? There’s a couple of different factors in there.
Bill Fairman (15:49):
Sure. And you also have to make sure that the affordability of the house is going to dictate how much people can afford in rent and you don’t want to pay too much for something that people are going to rent anyway and most people don’t realize that Florida has a lot of agricultural land. There’s a ton of land available. Is it suitable to build on not a lot of it.
Jim Sheils (16:21):
And you want to announce that there’s certain areas you want to build on the other is you wouldn’t want to be for a number of different reasons. So it’s a huge growth area but you also want to have some part of some desire for people to be there because you can build a house in certain areas of nowhere. I think it’s gonna be really hard to rent. So you want to be near areas where they’re experiencing the growth and there’s some desirability to bring the people there that’s really important. Absolutely.
Bill Fairman (16:48):
So Sarah had a question about what are some of the moves to the landlord and least landlord friendly places?
Jim Sheils (16:56):
New York and California are two of my least favorite landlord places I was in California. Again, like Jonathan said, it can, does go counter, or maybe that was you build one of the two. You talked about county by county where I had the county I was in California was more friendly like California terms than most, but still not very friendly. In New York is just awful. They’re terrible right now. It is a shame to watch it. And I say this personally, because I have good friends that own property up there. And for them to have to sit by in handcuffs for 14 months. It’s just, it’s absurd. I wouldn’t mind a rent moratorium on these people if they didn’t put one on the big banks and their mortgage payments, the insurance premiums and the property taxes, but for having the small landlord eat though, that’s just not fair. So I can’t recommend those states to anyone.
Jonathan Davis (17:52):
Yeah. And I would, I would add in Oregon to that one as well.
Jim Sheils (17:56):
I don’t know much about that, but yeah,
Bill Fairman (17:58):
Well, we, we’ve had a couple of loans in Oregon, so we know firsthand. It’s not a very mortgage or lender and or landlord
Jonathan Davis (18:09):
It’s not landlord. I mean, there’s a lot of rank control going on there as well, especially in the Portland area.
Bill Fairman (18:14):
Well, I can tell you that in Portland, you’re allowed to squat on a house it’s in the middle of being built. So if that’s the case, if you have to build a fence around your place and they still break into it, and then they tell you, then you didn’t secure it well enough, then that’s not a place you want to be a landlord in.
Jonathan Davis (18:36):
And then some of the friendly ones, Florida’s landlord friendly. South Carolina’s landlord friendly.
Bill Fairman (18:41):
Jonathan Davis (18:41):
Georgia’s very landlord friendly. Texas is landlord friendly.
Bill Fairman (18:46):
I’m not quite sure, but,
Jim Sheils (18:51):
Jonathan Davis (18:51):
Bill Fairman (18:51):
The only caveat to Tennessee is that they’re a super lean state for homeowners associations. So as a lender, you have to be very careful that the homeowners association dues are paid because they can foreclose without even telling the first lien holder.
Jim Sheils (19:09):
Oh, wow. I did not know that.
Bill Fairman (19:09):
Yeah. That’s something else that you have to watch out for. The best thing to do is get yourself a real estate attorney that knows the area and just ask those questions for, you know, for like a hundred bucks to do some research for you. You can get a lot of information that’s going to cause you a lot less grief in the long run, consider it an insurance policy syrup. And Jim is correct. It is, real estate is local and it gets right down to the counties how they want to treat things
Jonathan Davis (19:48):
Like when he was saying New York, I mean, Kings county, New York. When I worked at a family office, when I started there, we had a loan in foreclosure, in Kings county. When I left four years later, it was still in foreclosure at Kings county.
Jim Sheils (20:04):
Jonathan Davis (20:05):
Bill Fairman (20:06):
I tell ya, I keep going back to the landlord is not getting any help. The large hedge funds, the banks, the large insurance companies. They all have lobbyists that keep themselves out of this. And the small mom and pops really don’t have anybody speaking for them. And then same thing with the small businesses, with all the lockdowns, they didn’t have anybody speaking for them either. And you’re always going to get trampled on when you don’t have a voice in government, which is a shame.
Jim Sheils (20:38):
Yeah. Very unfortunate.
Bill Fairman (20:41):
Part of the reason that were, we lend to legal entities and not individuals is because government doesn’t really care about businesses. They only care about consumers
Jonathan Davis (20:53):
For now. For now, anyway.
Bill Fairman (20:54):
So it’s a little more friendly for us as lenders. Now don’t get me wrong. We don’t purposely make loans to people that we’re going to end up taking it back because we don’t want the stupid home. We just want you to pay us.
Jonathan Davis (21:03):
Well, Jim, can you tell us, like what are you like, what are you anticipating for the next, I guess, the close out of this year and make the start of next year? Are you all ramping things up or are you kind of taking the watch and wait approach or what’s your all’s plan if you don’t mind sharing?
Jim Sheils (21:20):
Yeah, we are. Well, it’s funny, you know, I brought up Tennessee. We actually, earlier this year had looked at 220 lots in Tennessee. We liked Tennessee and we decided no. When we got out of the lots, we were building Southwest Atlanta. We’re finishing a townhouse development there, but right now it’s really all we’re doing. We’re really going heavily into Florida. We liked Florida. We want to focus our efforts and our teams there. We understand Florida. So we, at this point are not planning to triple our builds or anything, but we want to stay at where we’re at. And after having a record last 12 months, we want to stay rep. And it’s simply because the demand’s there. So we plan to stay status quo. When the pandemic started, we took a big risk and we went into well over $20 million worth of land.
Jim Sheils (22:16):
We talked to people I thought were way smarter than us. They said, I don’t think this is going to crash the real estate market like await. In fact, certain areas like where you are in low density, I think are going to do very well. It was advice. We took it. And so we don’t have a problem with land right now. We have enough land in our hopper to build on for the next three years where a lot of people are scrambling now to get the land and work deals with the builder. We were a self-build. So we’re pretty insulated right now, which is exciting. So we plan to keep moving forward. That’s our goal right now. Yes, material prices went up, which has increased our prices as well, but the good news is values creeped up even more. And the last thing to go, which finally has happened is rent. Holy moly have rents going up in the last three months in ways that I’ve never seen in 23 years. So we plan to have a very strong months and keep moving very steadily forward with just our low density, you know, one to four units, new construction, eight properties, and B areas in high growth areas in Florida. That’s what we’re doing. And we’re going to stick to it.
Bill Fairman (23:23):
Well, that’s a good thing. If it’s not broken, don’t fix it, right?
Jim Sheils (23:29):
I’ve done. I’ve been not broken and tried to fix it. And that doesn’t work too well. Bill,
Jonathan Davis (23:35):
Can we get, his your URL back up there? So if people want to get in contact with Jim and, you know, turnkey rentals, if you’re interested in that,
Bill Fairman (23:45):
So Jim, you have a fund as well, correct?
Jim Sheils (23:48):
Yep, we have an income fund.
Bill Fairman (23:48):
Can you give a little info on it?
Jim Sheils (23:49):
Yeah. That’s the front engine of our business that allows us to be buying and developing the land. Whether it’s, again, small spot, lots or small tracks of land that we’re developing. Every piece of land we buy has to be able to be underwritten, to put an investment property on it that will cash flow. That’s kind of our safety score, which is nice. So we build properties for a lot of investors. We also will develop land or pick up lots. And then the national home builders, we work in about five or six of them will step in and buy us out of some of the lots for a profit quicker profits. So that’s great for our income fund, but our income fund is the front engine. And then the back engine, like you said, is we build new construction, investment properties and help people go build their own portfolios here. And for a lot of people want to be in Florida. They’re not sure how to do it. They don’t want to deal with older properties. They want management in place and we take care of all that.
Bill Fairman (24:42):
All right. So with your fund, you have to be an accredited investor?
Jim Sheils (24:45):
Accredited investor, a hundred thousand dollars minimum to five-year funds but we’re about a year into the fund. That’s going to close in about two months. So you’re looking at about three to four years,
Bill Fairman (24:55):
Right? And then for those who want to own a turnkey property, they don’t have to be accredited. They can just come in and get on your list of bank properties. I’m sure you have a list.
Jim Sheils (25:06):
Yeah. And we release properties twice a week. They don’t have to be accredited and our stuff, the Fannie and Freddie’s love loaning on our properties. We’ve never had a problem getting those things. So if you have serviceability with some of those, it’s a great way to use it. And we’ve helped a lot of people build some, some nice portfolios.
Bill Fairman (25:24):
Well, one of the beauties of being in Florida is that you’re still going to have strong rents, but you do have that. I call it the cherry on top of the cake there, which is appreciation. Typically, when you’re buying a rental property, you’re obviously you’re more worried about cashflow. You want to make sure it cashflows first and foremost, you’re not worried about valuation as much and that’s why the Midwest does very well. They don’t go up in value very much but they’re nice and steady, but you still have the nice and steady in Florida. And you have the added bonus of states like Texas and Florida, where you’re also gonna see quite a bit of appreciation.
Jim Sheils (26:12):
The people that are smarter than me. And that doesn’t say much, but there’s a lot of people smarter than me saying that Florida has a very nice growth pattern for at least the next five years. We do our growth projections more conservatively than most people think we should, but even with just a 5% growth on our properties, you know, you look out five years, you’ve got a very healthy portfolio and we’ve seen that with the prior five years and why it’s happening makes sense. It’s not speculation at this point. Again, it goes back to supply and demand our positioning and being, you know, the number one exited state right now. And just, there’s so much business moving here that affordability index stays good because the jobs are a lot better here in Florida than anywhere else.
Bill Fairman (26:57):
Yeah. Florida is a no income tax state as well. That’s bringing a lot of folks in now, Florida has had a bad reputation for evaluations. It’s a big mortgage fraud statement. Most all of that is coming from the Miami general area.
Jim Sheils (27:15):
Yeah. Most of it, most of it. Yeah. I don’t invest in Miami. I know people that have made a lot of money for Miami and forwards in Miami. It’s just not our area of focus. So that area kind of, you know, Melbourne beach, cocoa beach, south to Miami, we just had never gone into that area. It’s just not really adventurous. The numbers didn’t make sense. It’s just not for us. In Miami is more of a, tougher landlord area, for sure. So I don’t see us entering Miami anytime or anything.
Bill Fairman (27:47):
Yeah. And that’s what I was going to mention. Don’t let those bad reputations of the Miami area discourage you from investing in Florida. I mean, we just bought a place in Florida, too. We love the area. It’s just a good place to be in.
Jonathan Davis (28:02):
We just funded, uh, two light industrial buildings in Jacksonville actually.
Jim Sheils (28:06):
Oh good. Jacksonville’s a great business town, very diverse. That’s why I loved it. It wasn’t dependent on one industry for a coastal city to have the affordability index that Jacksonville has always had is incredible and so I’m glad we still call this home and still, still are building here, but it’s definitely one of my favorite cities due to the diverse economy. It’s not just one military basis, not just, you know, medical or shipping or there’s so many industries here that gives it some a safety score. That’s pretty nice.
Bill Fairman (28:42):
Yeah. And compare it to Charlotte. And that’s a Jacksonville and Charlotte are a lot of light except for Jacksonville has better seafood.
Jim Sheils (28:52):
I hope so.
Bill Fairman (28:54):
They should. Right? They should. Jim, thank you so much for joining us.
Jim Sheils (28:59):
I appreciate it. Always good to talk with you guys.
Bill Fairman (29:02):
Let’s put the URL back up again, one last time there, if you’re interested in investing in this five-year fund, it’s a, uh, an income fund. Is that the place to go, to get information on that?
Jim Sheils (29:18):
Yeah. They can just reach me, set a call with me and we’ll get them in touch with the fun side of our business.
Bill Fairman (29:22):
All right. Excellent. And if you’re interested in holding properties yourself, then, obviously also talk to Jim about possibly buying some of those turnkey properties as well. Again, thank you so much folks.
Jim Sheils (29:39):
Thanks for having me guys.
Bill Fairman (29:39):
All right. Take care, folks. Thank you so much for joining us on the Passive Acredited Investor Show. We are Carolina, what are we?
Jonathan Davis (29:47):
Bill Fairman (29:49):
Easy for me to say. We are lenders in the Southeast for real estate investors. If you are interested in borrowing money, go to CarolinaHardMoney.com. Click on the apply now tab. If you’re a passive investor looking for passive returns, then click on the accredited investor tab. Don’t forget to like share, subscribe, hit the bell and sign up for Wednesday with Wendy. Like we said earlier, she is backed up into October. So get on the list as soon as possible. It was wonderful having you guys doing this this week, we will talk to you next time.