All Forum Posts by: Chuck McEvoy

I have investing with EquityBuild for the last 14 months. I choose to lend using my SD-IRA funds on different Chicago multi unit projects that have 14-17% rates of return. My monthly payments have been received on time without issue. Two of my maturing loans have been extended 6 months at the same rates of return. So far, I'm thrilled

Keith, great story. But I'm amazed at $21K for all the rehab you you noted. Im in Maryland and your rehab would cost $35K, maybe more. Love to see your rehab $$$ detailed.     CHUCK

inspiring story...is $3000/mon based on what % occupancy. How did you get financing without a cosigner ??

David...I hope you can settle down and keep your responses more business like. More power to you for a home run ! I didn't call your story dumb luck, you did - " accidental $291K " ). I thought just the opposite , quite frankly. I cant be the 1st person ask a few challenging questions of your story. Is the rest of the world  just there now to tell how wonderful you are  now ?? There are amazing, embellished success stories in the RE world of investing - some are perfectly true but sadly many stories are manufactured or re-written to misled investors to INVEST in their full proof products or services- follow what I do and you cant fail !!

I glad for your huge success !! I hope it does inspire other readers. Bashing me or others along the way doesn't. Again..nice deal !

The story you tell is certainly nice....but if you went thru a HML I'm scratching my head how you and the HML didn't see this coming. When you made an offer on this property why did the list agent take your offer without POF or an approval letter from your HML lender. I dont know a list agent here in MD who would. $2700/unit rent in St Louis, MO..didnt know ST Louis had such high rents available. $34K rehab / unit seems lite for a $2700/unit monthly rental.. Sorry, everything isnt so wonderful and dumb lucky in RE.

nice story but....what institution gave you a 5% dp investor loan ???

Joseph,

Great article and it seems you have exploded on the rehab scene with 15 rehabs in 10 months. I too am an investor and landlord in Baltimore. If you are willing to share.... more detail with the BP community, can you detail your financing costs ( 15 rehabs take money). How does someone suddenly find lenders to finance all these projects?? Is $30, 389 what you actually put in your pocket after ALL expenses - carrying cost, taxes, MLS commissions, utilities, interest charges etc.??? if not what is the final NET Profit ??