Dec 23, 2019
Wendy Sweet and Bill Fairman, www.CarolinaHardMoney.com, discuss their hard money fund.
Hard money is usually for bridge funds for a relatively short term.
They typically only invest in South Carolina, their 'backyard. 75% of loans are in the Charlotte market.
Single-family, multi-family, self-storage, fix-and-flip properties.
Ideal property type is on the affordable housing side, under $300K for a single-family residence in a subdivision with 2.5 children playing in the front yard.
"You can not rent a million-dollar house and get the same ROI that you can from a $200K house.
Everything happens on the Quarters. Payout on the Quarters. Money starts working on the Quarters.
There are 97 investors presently.
Wendy and Bill are constantly keeping their investors informed.
IRA, Roth IRA, Trust, Cash, Solo 401K. Minimum investment: $50K. Most invest $100K+.
Dependants under 18, you can invest their money until they hit 18.
They only make loans. You can compound over time.
The best place for credited investors is in a fund as the money is always working.