178 Can You Get A Hard Money Loan From Carolina Capital If You Are Self-Employed? |RE Investor Show!

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178 Can You Get A Hard Money Loan From Carolina Capital If You Are Self-Employed? |RE Investor Show!

Once again the Carolina Capital Management team together with Bill Fairman, Wendy Sweet, and Jonathan are here to give you useful information not only about real estate but also relevant news that is happening in the country (or even worldwide).

Plus the Ugly Question for this week on today’s Real Estate Investor Show – Hard Money for Real Estate Investors!


“Can You Get A Hard Money Loan From Carolina Capital If You Are Self-Employed? “

Timestamps:

0:01 – Introduction: “ Housing Shortage, how did we get into this mess?

0:49https://www.CarolinaHardMoney.com

1:03 – Wednesday with Wendy: https://calendly.com/wendysweet/wednesdays-with-wendy

3:04 – Breaking News

3:30 – Unemployment claims continue to drop

6:05 – The Death of the Starter Home

8:04 – Are starter homes the same as affordable houses?

9:26 – Smaller homes are more in demand now in the real estate market

14:33 – What to expect in 2022?

19:46 – Are builders building the wrong house now?

21:12 – Ugly Question: “Can You Get A Hard Money Loan From Carolina Capital If You Are Self-Employed?”

25:31 – Next Show: Passive Accredited Investor Show with Tim Bratz, CEO of Legacy Wealth Holdings – https://youtu.be/8RlB_fLWBCs

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.

Listen to our Podcast:

Listen to our Podcast: https://thealternativeinvestor.libsyn.com/

Visit our website: https://carolinahardmoney.com

YouTube Channel: https://www.youtube.com/channel/UCYzCFOvEt2n9TchgECLwpww

Facebook: https://www.facebook.com/CarolinaHardMoney/

Bill Fairman (00:01):

Hi folks I’m here. So if you ever wondered if being self-employed makes it difficult for you to get a loan? You’re not alone, which we’ll talk about that right after this.

Bill Fairman (00:31):

Hello everyone. Thank you so much for joining us on the Real Estate Investors Show, Hard Money for Real Estate Investors. We are Carolina Capital Management, and we are lenders for the Southeast. If you’re a real estate investor, if you’re interested in borrowing money and go to CarolinaHardMoney.com and click on the apply now tab, if you’re a passive investor looking for passive returns, click on the accredited investor tab, don’t forget to like share subscribe, hit the bell and sign up for Wednesday with Wendy.

Wendy Sweet (01:17):

That’s just an example of how your brain will grow.

Bill Fairman (01:21):

So Wendy dedicates 30 minutes per person on Wednesdays to talk about anything real estate related. So the link is right there in the chat and on the screen. So get on the calendar. She’s usually booked a few months in advance, right?

Wendy Sweet (01:38):

Yup.

Bill Fairman (01:38):

By the way, we do have a chat section on the left-hand side of the screen or underneath, depending on the platform that you’re viewing us from. I am Bill Fairman. This is Wendy Sweet. And that’s Jonathan Davis, over that side.

Jonathan Davis (01:54):

Tryna look at the screen.

Bill Fairman (01:55):

Interesting weeks, huh? Or week, days.

Jonathan Davis (02:01):

So like every, every week is interesting.

Wendy Sweet (02:03):

It is. It’s kind of like a rollercoaster ride, you know? You never know what to expect, but that’s real estate in itself.

Jonathan Davis (02:08):

That was probably going to equate it more to like a house of horror, you know, turn the mirrors, all distorted and tunnel and.

Wendy Sweet (02:17):

The things are good. For us. Businesses is great.

Jonathan Davis (02:21):

Oh business is good. Yeah.

Wendy Sweet (02:22):

People are still buying and selling houses.

Bill Fairman (02:24):

Well, here’s the thing. We give you information that we think you can use. You’ve got all kinds of stuff going on in the country. Maybe taxes, maybe not.

Wendy Sweet (02:37):

Disease, famine.

Bill Fairman (02:38):

Maybe, well, we know we have inflation.

Wendy Sweet (02:42):

Deflation.

Bill Fairman (02:44):

We may stagflation.

Jonathan Davis (02:44):

Stagflation.

Wendy Sweet (02:44):

That’s right.

Bill Fairman (02:44):

But we want you to worry about the stuff that you can control,

Jonathan Davis (02:54):

Which is nothing.

Wendy Sweet (02:55):

God has to rest so you’re good.

Bill Fairman (02:55):

And not worry about anything else.

Bill Fairman (02:55):

A little breaking news, if you don’t mind.

Wendy Sweet (03:17):

This just in.

Bill Fairman (03:22):

Well not just. It was in around eight 30. He’s not getting to it just to have rest to repeat it.

Wendy Sweet (03:30):

Well we’re not seeing it.

Bill Fairman (03:31):

So that employment, it was a little bit lower this week versus last week, which is good. There are new unemployment claims and they continue to drop. Continuing unemployment benefits continue to drop as well. But we’re still having trouble getting people to come to work.

Wendy Sweet (03:52):

Yeah. There’s people falling off.

Bill Fairman (03:54):

So they’re no longer getting those benefits. They’re either finding other things to do that are under the table

Wendy Sweet (04:01):

Or starting their own businesses

Bill Fairman (04:03):

Could be. You don’t know. I did hear something today where there’s a growing group of people that are working from home and frankly, they can get most of their job done in about four hours. Right. So now they’re finding out that some of these people have actual actually got two full-time jobs, because if they can do their job in four hours, they’ve got eight hours to do two jobs.

Jonathan Davis (04:31):

I want them, can you all apply for our positions?

Wendy Sweet (04:36):

Because we’re looking for a marketing person, another loan administrative person, and accouting person.

Jonathan Davis (04:43):

Accounting associates.

Bill Fairman (04:44):

Well, you won’t, you won’t be able to have two full-time jobs because some of these doves require that you be here.

Wendy Sweet (04:50):

Yeah. Like we do.

Jonathan Davis (04:52):

But if you can work from home and do everything in four hours by all means, have another job.

Wendy Sweet (04:57):

That’s exactly right.

Bill Fairman (04:58):

Yeah. Listen, I could care less if you have 12 jobs, as long as you get the job, we want to complete it.

Wendy Sweet (05:06):

That’s right.

Jonathan Davis (05:06):

We are results driven. You give results, I mean. I’m a firm believer. I always tell people presence doesn’t dictate productivity. And just because you’re here doesn’t mean you’re doing a lot.

Wendy Sweet (05:15):

That’s exactly right

Bill Fairman (05:16):

A lot of HR departments are of that same mind. They don’t really care as long as you’re not, your other full-time job isn’t for their competition. So as long as you’re not violating that

Jonathan Davis (05:30):

Some trade secrets going back and forth,

Bill Fairman (05:32):

It’s not a big deal. So I think the treasury yield is today is like 1.3. It has been 1.2. So rates are ticking up a little bit, nothing really noteworthy.

Wendy Sweet (05:48):

Right.

Bill Fairman (05:48):

Right. It’s still awesome.

Jonathan Davis (05:51):

And still pretty preachy.

Bill Fairman (05:54):

And we’re going to talk about that.

Wendy Sweet (05:56):

We still call it money, don’t we?

Bill Fairman (05:58):

Our friend, Randy Vanderson has forward us a few other articles

Wendy Sweet (06:02):

He does every Thursday morning. We’re grateful for that.

Bill Fairman (06:05):

So one of them is kind of labeled the death of the starter home.

Wendy Sweet (06:11):

Hmmm what does that mean, Basil?

Bill Fairman (06:13):

I don’t know who Basil is but.

Wendy Sweet (06:13):

That’s part of a Austin Powers.

Jonathan Davis (06:23):

It’s not a lot of money.

Wendy Sweet (06:24):

Hairless cat.

Bill Fairman (06:27):

And speaking of supply issues and scanning Uri Berliner of NPR news reported recently that there was an acute shortage of entry-level small homes. And according to Freddie Mac, they consider the starter home as 1400 square feet or less. Okay. And in 1992, that was 40%.

Jonathan Davis (06:52):

82.

Bill Fairman (06:52):

What did I say?

Jonathan Davis (06:55):

92.

Wendy Sweet (06:55):

That’s okay, it’s a ten year difference.

Bill Fairman (06:55):

In that in 1982, it was 40% of the newly constructed houses.

Jonathan Davis (07:02):

Well, and why was that? What was the interest rate in 1982?

Bill Fairman (07:04):

Well, I’m getting to that.

Wendy Sweet (07:04):

Exactly.

Bill Fairman (07:06):

And that’s the first thing I started screaming at. And anyway, by 2019, that year had fallen to 7%. So if they’re just using square footage as starter homes and that price point,

Wendy Sweet (07:19):

Because people are downsizing anyway. So that really is,

Bill Fairman (07:24):

And we get back to that. Your people were building 1400 square foot homes in 1982 because the average interest rate in 1982 was 16.4%. I’m sorry. 16.04%. 1981, it was a little higher than that. It was 16.6, 8%. So people couldn’t afford to buy a house because they couldn’t get the financing. And in 1982, your conventional mortgage loan was a bank loan and you had to put 20% down. The only way you can get less than that was the doing FAJ line. Okay?

Wendy Sweet (08:03):

Are starter home is the same as affordable housing? That’s a good question.

Bill Fairman (08:06):

Can be

Bill Fairman (08:08):

Well it depends. And that’s what it’s supposed to be a starter home is supposed to be affordable because it’s your first start.

Jonathan Davis (08:16):

Well, I mean, in 1982, it was the only thing you could afford.

Bill Fairman (08:20):

Well, yeah, no one can afford to buy it. 2.500 square foot house in 1982, newly constructed. Here’s what happened in 1982 that a lot of people don’t realize is that rates were really high and it was a great time for seller financing. If you didn’t have to pay off your home or even need the money to buy a new home and you were selling a home, if you had an 8% rate and the going rate was 16, what do you do? You know, seller financing

Wendy Sweet (08:51):

Plus mortgages were assumable back then as well.

Bill Fairman (08:54):

A lot of them were. Well, the FHA ones were not that conventional. Again, they didn’t have the Fannie Freddie securitizations and all that stuff back then either it was either the bank held it or you had an FHA or VA.

Jonathan Davis (09:11):

I thought securitization started in 73.

Bill Fairman (09:13):

Well, okay. It wasn’t very widely spread. Most banks held onto their own room.

Wendy Sweet (09:21):

You guys are really smart.

Bill Fairman (09:27):

So there has been,

Wendy Sweet (09:28):

It’s like you guys are the library.

Bill Fairman (09:29):

Recently, a lot more homes that have been on the market now that are smaller 750 to 1700 square footage footage. So the amount of new smaller homes or existing smaller homes has increased month over month. And then the homes that are 3000 to 6,000 square feet have decreased from 23.9% to 19.3%. So the bigger homes are not being listed as much. And then the more smaller homes are. So I’m kind of wondering where you have real estate investors who have the small homes, right? And now they’re seeing that they have an opportunity to sell because they’ve got a lot of equity in them. And so now they’re letting those go. And if they’re smart, they’re letting those homes go. That were the trouble homes.

Wendy Sweet (10:25):

Yeah. If they’re smart. Speaking of trouble homes, I just saw on Facebook this morning, there’s a house called The One that’s a 10, a hundred thousand square foot house. And just outside of Beverly Hills, I guess on an eight acre cliff.

Jonathan Davis (10:41):

Wow.

Wendy Sweet (10:42):

That’s being foreclosed on for 165 million. The guests we’re supposed to have it finished by 2017. So the builder still did not have it completed and it’s now going to be on the market. They’re getting like 298 million chump change here or there, but it’s just an example of, um, you know, those high dollar houses, you know, you need to be careful in that price range, not, you know, 65 million or 165, or even $500 million houses. You need to even over 500,000, really, depending on where you are, you just have to be careful.

Jonathan Davis (11:21):

I mean, where you are dictates that. I wanted to ask you a question on your portfolio that you have, how many of the houses that you have are under 1400 square feet?

Wendy Sweet (11:30):

That’s a great question. So let me think of that in my head.

Jonathan Davis (11:38):

For me it’s a really easy answer.

Wendy Sweet (11:39):

I’m thinking, I don’t have any.

Jonathan Davis (11:41):

Under 1400?

Wendy Sweet (11:43):

I don’t have any over 1400.

Jonathan Davis (11:46):

I was gonnna say I only have one over 1400.

Wendy Sweet (11:48):

The one that I did, I sold.

Jonathan Davis (11:49):

Yeah. And the one that I have, I don’t know to sell it or not.

Wendy Sweet (11:52):

Yeah. I do have one more, forgot about that one and that’s actually on the market. I just put that on market yesterday. So yeah and that’s out of what 19 that I have right now I’m involved in, in one way or the other. So yeah.

Bill Fairman (12:06):

Another thing that this article pointed out is that expectations for people buying starter homes have been raised so much thanks to HGTV that everybody needs to have this big open concept with all.

Wendy Sweet (12:20):

Granite countertops, giant cabinets.

Bill Fairman (12:22):

Giant homes.

Wendy Sweet (12:24):

Funky lights.

Bill Fairman (12:24):

I’m not going to live in a 1400 or less square foot to get started with. That’s why they stopped building a lot of it.

Jonathan Davis (12:31):

Yeah. It’s interesting too. Like it’s like 1400 square feet with all the high end finishes or the double-wide and it’s like, can’t there be some middle ground between those two?

Wendy Sweet (12:43):

That’s exactly right.

Jonathan Davis (12:44):

To me that’s a,

Wendy Sweet (12:46):

But a smaller houses, you know, when you’re under 1400 square feet, the repair costs, the rehab costs on them are less and, you know, countertops are shorter, so you’re not spending as much money there. So you can put a little bit more into it, do the luxury vinyl tile throughout, um, rather than carpet. I mean, it just gives it a much better look. So those tiny houses, you can really trick them out to make them look good. And when you do that, you get more money for them and they sell quicker.

Bill Fairman (13:16):

Well I know Michelle and I’s first home.

Wendy Sweet (13:18):

That would be his wife.

Bill Fairman (13:18):

1300 square feet.

Jonathan Davis (13:22):

13.

Bill Fairman (13:22):

And you know, it had a vaulted ceiling and [Inaudible] set.

Wendy Sweet (13:26):

They were very open.

Bill Fairman (13:26):

Double fireplace between the dining room, kitchen and the living room. So it had plenty of square footage for us. It was just the two of us.

Jonathan Davis (13:39):

Our first home was 1800 square feet, which, you know, we had a shout at the time, but yeah, I remember we had to come in $5,000 over asking price. We got it. And then we sold it eight months later for 20,000 more than we paid for it.

Wendy Sweet (13:56):

That’s awesome

Bill Fairman (13:57):

That was in the Nashville Metro area.

Jonathan Davis (14:00):

That was in Nashville. Yeah.

Bill Fairman (14:00):

And you were in Kentucky, I think, right?

Jonathan Davis (14:02):

No, no I was in Nashville. Or, well, just outside of Nashville.

Wendy Sweet (14:06):

That’s awesome.

Bill Fairman (14:07):

That’s pretty hot market.

Jonathan Davis (14:08):

That was 20, that was the end of 2017. It just sold again. So, it’s sold again a couple months ago for 40,000 more than we sold it for.

Wendy Sweet (14:20):

Wow. That’s awesome.

Bill Fairman (14:24):

Did you have a little forecast that you wanted to talk about in the news here, it was the what they expect in 2022?

Jonathan Davis (14:33):

I mean, yeah. So some of the articles that were sent over, kind of what to expect in 2022, I mean, obviously we think that it’s going to be a more buyer friendly market.

Wendy Sweet (14:45):

Let’s put a crystal ball out.

Jonathan Davis (14:45):

Yeah, you know, things will start, we see there’s a lot construction going on. Now the issue is

Bill Fairman (14:54):

Workers supply chains.

Jonathan Davis (14:55):

Workers and supply chain And then also what type of houses are they building? I mean, most of them are focusing on three two’s, four two’s, four threes, somewhere between that. I would say 16 to, you know, what, 2,600 square foot house? Which is outside of, you know, what would.

Bill Fairman (15:16):

Yeah. On smaller lots.

Jonathan Davis (15:18):

Yeah. On smaller lots.

Jonathan Davis (15:18):

So again, the affordability of those it’s like, okay, there will be more homes. It’s going to be more of a buyer’s market. We don’t think it necessarily means prices are going to start dropping.

Bill Fairman (15:29):

Right.

Jonathan Davis (15:29):

It’ll just mean there’s more inventory available. There’ll be more time on the market and you won’t have to, maybe,

Bill Fairman (15:37):

You won’t have to bid up.

Jonathan Davis (15:38):

Bid up.

Wendy Sweet (15:39):

Right.

Bill Fairman (15:39):

I mean, we’re also in fall and sales typically start dropping in fall. The times on market are longer because fewer people are looking for homes this time of the year, because everybody’s already in their school district.

Wendy Sweet (15:58):

Now that did not occur last year because of the whole covid situation.

Jonathan Davis (15:58):

Everyone was working from home and all of the students were virtual any so matter.

Bill Fairman (16:04):

Yeah. All we have is a best guess.

Jonathan Davis (16:09):

And we still continue to think that, you know, we still think the suburbs are going to be the hotter market. Like we think that’s going to continue.

Bill Fairman (16:17):

We’re still going to have higher prices. I don’t think the prices are going to increase at the same rate. They did this past year, but we’re still gonna have pricing issues because listen it’s and we already discussed this. It’s taking longer for them to build the home.

Wendy Sweet (16:37):

Right.

Bill Fairman (16:37):

They have labor issues, they have supply chain issues and it’s just taking longer.

Wendy Sweet (16:43):

I think the big changes we’re going to say is you’re not going to get as many over asking price offers. In fact, you may not even get any that you may not may just get what you’re asking for. I think you also are going to see sellers having to do concessions at the closing.

Jonathan Davis (17:01):

Correct.

Wendy Sweet (17:01):

Where they’re going to have to pay a little bit more toward closing costs and repairs and things like that. So for the buyer, they’re going to have an opportunity to actually do a little due diligence and choose the house they want, rather than throw contracts at people, trying just to get whatever they can.

Jonathan Davis (17:22):

Just trying to get a house.

Wendy Sweet (17:23):

Yeah. Which it should be like that it’s just, it’s seriously abnormal right now.

Jonathan Davis (17:28):

Yeah. Well, I mean, at some point, I mean, and these are what we think for 2022. But these, if we get into like quantitative easing, we can’t continue that forever. At some point,

Wendy Sweet (17:46):

Pendulum has to come up.

Jonathan Davis (17:46):

At some point, this has sweat.

Wendy Sweet (17:49):

That’s right.

Jonathan Davis (17:49):

Like, interest rates have to go up and if they don’t go up, what’s the ripple effect from that? Not just on our economy, but globally speaking.

Wendy Sweet (17:59):

Absolutely.

Bill Fairman (18:01):

And before we get into our ugly question, I wanted to mention that real estate, as I always feel was still the best investment, especially since the new administration is trying to pass a tax law, that they are going to tax unrealized gains in your stock portfolios. So at the end of every year, you get your statement and you have a gain, they want to tax you on that gain, even though.

Wendy Sweet (18:31):

Even though it’s not in your pocket.

Bill Fairman (18:31):

You haven’t exercised that purchase or sale yet you don’t have that. It’s all on paper. Unless they do that with real estate as well. And I don’t know how they’re going to do that. They would have to apparently have to go off of every time a municipality reevaluates their tax procedures. I don’t know how they would do that. So now, that said, you can’t tax people on unrealized gains. If you’re also not allowing them to have losses on their taxes, as the prices go down. So it should offset. The point is if you owe taxes at the end of the year, and most of your money is invested in the stock market, you have to come out of pocket each year with taxes, right? That’s not good.

Jonathan Davis (19:30):

No one really likes that.

Bill Fairman (19:31):

What do you have to do in order to pay those taxes? You have to sell your stock. If everybody’s selling their stock at the end of the year to pay their taxes, what happens to the stocks price?

Jonathan Davis (19:41):

I wonder,

Wendy Sweet (19:42):

Amazing how everything affects something else.

Jonathan Davis (19:45):

Scott has a question. Are builders constructing the wrong house now? I wouldn’t say the wrong house. So builders and developers, what they’re doing is they’re taking what the market’s giving them. Right now, it’s given a really expensive land and really expensive build costs. So what are they doing? They’re putting as many houses on those tracks of land, as close as possible. And that’s what we’re getting. I mean,

Bill Fairman (20:10):

The elders are trying to build homes that they can sell in a short period of time for the most margin. So they’re going to build the stuff that pays them the most and has the least amount of effort involved.

Wendy Sweet (20:29):

Right.

Bill Fairman (20:29):

I don’t know what that is, but I’m assuming it’s the houses that they’re building. The ones in the middle.

Jonathan Davis (20:36):

You don’t see them. There’s not a lot of, you know, custom homes going on right now. it’s all, track homes that are going on.

Bill Fairman (20:45):

And frankly, a 1400 square foot house in a 1900 square foot house are going to cost virtually the same to construct.

Wendy Sweet (20:54):

Close. yeah.

Bill Fairman (20:54):

You know what I mean? So if you have to sell it for less, and what’s the point of building the smaller?

Jonathan Davis (21:01):

Exactly.

Bill Fairman (21:01):

Right?

Bill Fairman (21:02):

Cause it’s going to cut into your margins

Wendy Sweet (21:04):

Well your price square foot when it’s smaller.

Wendy Sweet (21:08):

And the answer is 42.

Jonathan Davis (21:10):

42.

Bill Fairman (21:12):

So the question is.

Jonathan Davis (21:13):

Chromosomes.

Bill Fairman (21:13):

Can you get a loan Carolina Capital if you’re self employed? Well, the reason we went ahead and only gave you five minutes or his answer is you pretty much have to be self-employed to get a loan from us

Jonathan Davis (21:25):

We give preference to those who are self-employed.

Wendy Sweet (21:27):

We liked that the bag that’s investing is your business, right?

Bill Fairman (21:31):

Well, here’s the thing. We only lend to legal entities. You can have a job that’s W2. That’s not an issue, but you are essentially self-employed when you’re applying for a loan because you’re applying for a loan in your legal entity’s name.

Wendy Sweet (21:45):

And do we care if it’s a brand new entity and they’ve never used it before?

Jonathan Davis (21:49):

Nope.

Bill Fairman (21:49):

That would be a negative.

Wendy Sweet (21:50):

That’s right.

Jonathan Davis (21:51):

Some people set up a new entity for every single house they construct or purchase. Some people don’t. Either one is fine.

Bill Fairman (22:02):

The better way to do that is to keep the one entity.

Jonathan Davis (22:06):

In Bill’s opinion, he is not a CPA.

Bill Fairman (22:11):

Yes or an attorney,

Wendy Sweet (22:13):

An attorney will give you different answer than a CPA.

Bill Fairman (22:15):

In my opinion, I would set up a legal entity that is the beneficiary of a land trust. And you could just create a new land trust for every property. And then the LLC can be the beneficiary.

Wendy Sweet (22:32):

You could.

Bill Fairman (22:32):

That way you get your anonymity of the trust.

Jonathan Davis (22:35):

Are those the little things that crawl around the ocean floor?

Bill Fairman (22:40):

And then you get the protection on the LLC.

Wendy Sweet (22:43):

Yeah. But there’s a way to get through all of it. There’s really no way to put up a solid veil of protection. And what you’re doing the key is to have your house not look like a low-hanging fruit, have your company not be a low-hanging fruit and board to just make sure you do the right thing all the time and you won’t have any trouble.

Jonathan Davis (23:01):

I mean, every veil can be, can be penetrated. Every single one of them. It’s just the time and effort and money that it’ll take to do it.

Wendy Sweet (23:07):

That’s right.

Bill Fairman (23:08):

So we spent like three seconds on the actual aggressive question and we’ve rotated in the other aspect.

Jonathan Davis (23:15):

Th self-employed would be great.

Bill Fairman (23:18):

We do not discriminate self-employed prefer it. We actually prefer it since we are one.

Wendy Sweet (23:26):

Not totally necessary. We’d like the opportunity to talk with you, tell you about what we have and you know, spend 30 minutes with me and let’s talk about your goals and where you want to go and what you want to do. And I can hook you up with other people that can help you in the business, whether it’s other lenders or other people who train people or other groups you can join to learn from

Bill Fairman (23:48):

So that’s the commercial for Wednesday with Wendy.

Jonathan Davis (23:53):

And you can also call me, don’t call Bill. Call me.

Wendy Sweet (23:56):

Yeah. Unless you want to invest in the fund, then call Bill.

Bill Fairman (24:02):

What’s the song? Leave me a message. Maybe I’ll call. Joe Walsh?

Wendy Sweet (24:09):

Yeah. [Singing Just leave me a message, maybe I’lll call by Joe Walsh].

Bill Fairman (24:10):

That’s not true, I won’t call. Sometimes. I’m kidding.

Jonathan Davis (24:21):

Yeah. If you all want to talk about any of that, Wendy’s a great resource. If you want to get more resources to reach out to her, she can do that. We can do that here as well. You can call me.

Wendy Sweet (24:32):

About commercial,

Jonathan Davis (24:34):

Commercial,

Wendy Sweet (24:35):

Multifamily,

Jonathan Davis (24:36):

Multifamily, new construction.

Wendy Sweet (24:38):

Development.

Jonathan Davis (24:38):

Yeah. I mean, we’re doing new construction. We’re closing,

Wendy Sweet (24:44):

Self storage.

Jonathan Davis (24:44):

We’re closing out everything this month. Self storage, new construction.

Bill Fairman (24:48):

We do have a variety of, we are all inclusive in this company,

Wendy Sweet (24:54):

Yeah, we like to do it all.

Bill Fairman (24:54):

But it’s all within that initial buy box.

Wendy Sweet (24:57):

Certain guidlines.

Jonathan Davis (25:00):

Menagerie of things.

Bill Fairman (25:01):

Well, it’s all affordable housing on the single family side and it’s all recession resistant on the commercial side,

Wendy Sweet (25:13):

Multi family, multi tenanted properties. We like those, not single use

Bill Fairman (25:17):

We like those properties where any moron can make money

Jonathan Davis (25:20):

Because one day we might have to be that more on.

Bill Fairman (25:23):

That’s what I was getting from.

Wendy Sweet (25:23):

We’re past the time. We’re gonna to turn into pumpkin.

Bill Fairman (25:31):

Don’t forget about our one o’clock show. We have a great guest, Tim Bratz coming on. He’s one of our Collective Genius buddies and he is in the multifamily arena. And can’t wait to talk to him. So there’s the link to that show at one o’clock. Thanks again, folks for joining us on the Real Estate Investor Show, Hard Money for real estate investors. We are Carolina capital management. We are lenders real estate investors in the Southeast. And if you are interested in borrowing money, go to CarolinaHardMoney.com and click on the apply now tab, if you’re a passive investor, looking for passive returns, 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.

Jonathan Davis (26:24):

Thanks guys.

Bill Fairman (26:25):

Talk to you soon.

Wendy Sweet (26:28):

Toodles.

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