All Forum Posts by: Shaun Draughn

Hello all! I am looking for an LTV loan on a blanket of duplexes in Goldsboro NC ASAP. Im in a headache of a situation with owner financing at the moment. So I'm looking to erase him from the equation. I know traditional banks usually don't do these and I've tried a bank in Raleigh NC but the loan officer stated that the chief executive wouldn't allow them to do this type of loan this quarter due to the amount of properties they've had to take back by foreclosure. Any suggestions, comments, help, referrals would be greatly appreciated. Thank you in advance, God bless!!

@Brian Corbett could tell you about the Greenville Market. But @Dawn Brenengen is correct. Raleigh is the hot Market for any type of real estate buy and holds would benefit you anywhere near the research triangle park or RDU area in general! Deals aren't scarce in Raleigh but they are hard to come by as opposed to Greenville but Greenville's market is strong due to the hospital having resident students and because of ECU!! Hope this helps! 

Hey Michael Neely welcome to BP! What part of NC are you in?

Thanks for that run down David Marzullo that actually helped me a lot. I want to get into private lending but was asking myself what the difference was between HML and PML. The thought started under the grounds of PML but quickly turned into HML according to what you just said! I was unaware of the fact that you have to register to be a lender. Definitely food for thought!

Hello all, Im from NC but I'm in Cleveland for the next 7 months and have been noticing the difference in neighborhoods and how many duplexes are in the suburbs! Is anyone familiar with the Lakewood/Rocky River area or have invested in property there?? Are there any REIA groups or investor meet-ups here to attend? Thank you in advance

thank you guys and @Randy E. I should've worded that different I meant to say once we are approved for the loan not after the loan is in place. 

@Larry K. yes sir will do, some accountants are out of the loop when it comes to this so I wanted to seek an investors point of view as I have an accountant but he deals with my personal returns and affairs! 

Hello all, I'm an investor in the RDU market in North Carolina. My partner and I are in the process of getting permanent debt on a blanket of duplexes we currently own under an owner finance deal. We are in the contract under our respective entities names at this point but are contemplating whether or not it's beneficial/safe or whether it even matters whether we keep it that way or form a joint entity (LLC) once the loan is in place. Any suggestions, comments, advice are welcomed. Thank you in advance

Hello all, my name is Shaun and I am in search of a dependable contractor in the Wayne County area, specifically Goldsboro North Carolina. I have a 14 unit duplex (7 buildings) in need of some TLC. The previous owner had less than quality standards of running this property before my partner and I took over. He went door to door collecting rents, was sub par on maintenance issues so in an effort to rehab this place administratively and cosmetically to get the place back cash flowing to its potential we will need a dependable contractor who can help us get the ball rolling on this job. If you have anyone in mind please don't hesitate to send them my way. Thank you in advance

@Brie Schmidt My name is Shaun Draughn I am actually here for work now from NC and wanted to know when and if there will be a meet up in the near future! or if there is a REIA group here in Chicago. thanks in advance.

@Michael Jobe Lionel and I are actually good friends he has been a good unnamed mentor for me. I asked him about this aspect already and he gave me some sound advice on using any LOC available to me whether it be personal for now because it essentially does the same thing in allowing me to buy properties and not have to use my own capitol. Just wanted to get other people's point of view and whether somebody may have been in a similar situation. I'm also a member of TREIA already but I am currently in chicago for a new job.

@Account Closed I have one credit card through my business at this point. but shame on me because essentially you just answered my question by asking me a simple question. I tend to forget that business credit is much like personal in having to have an actual score and that it takes time to get to the point where the lender will actually lend. Thats the Newbie in me