1. What do you do about judgments or liens if you are the lender?
2. What are some red flags I should be aware of if I want to refinance out of hard money?
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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Wendy Sweet (00:01):
Hello! How are you doing out there in? I'm Wendy Sweet. This is Jonathan Davis. You are at our podcast, which is, what's it called again, Jonathan?
Jonathan Davis (00:27):
Our podcast is Active,
Wendy Sweet (00:30):
Active Wealth? No. Active, No. Passive Income, Active Wealth show
Jonathan Davis (00:40):
We give Bill a hard time about it and we couldn't even do it and I apologize if anyone hears an echo. I'm in our new office and all I have is a desk so it's a little echoey in here.
Wendy Sweet (00:51):
Yeah. And we're not punishing you, you just haven't gotten all of it in yet. Right?
Jonathan Davis (00:57):
That's right, I haven't
Wendy Sweet (00:57):
He hasn't been put in the corner. So we are in a different building. I mean, you can see bricks behind me. We're still unloading and everything and we did all this every Thanksgiving kind of at the last minute. We're thrilled that we've done it but boy, moving an office. I think it's harder than moving a house, don't you?
Jonathan Davis (01:22):
There's a lot that goes into it. I mean, yeah, I would, it would probably liken it to, if you're moving houses with 10 children, like that's probably what it's about why.
Wendy Sweet (01:34):
And we've locked ourselves out twice now. I had to call the locksmith, got a key made and left the key up on the desk and locked herself out again.
Jonathan Davis (01:43):
This morning, I show up in our account managers. She's accounting, she's waiting in the lobby and I'm like, what's going on? She says, the door is locked. I can't get in. I was like, Oh my gosh. I said it didn't someone make keys? And she said, yeah. And I said, okay, well, where are they? She's like upstairs on the desk. That doesn't smell good!
Wendy Sweet (02:04):
That's right. Well, if we didn't have to work while we were moving, it would be a lot easier, right? But that makes it kinda tough. So you are on our podcast, the Active Income, Passive Wealth podcast and we would love for you to, uh, how do you do that? You like us, you,
Jonathan Davis (02:30):
Hit the bell, subscribe and share.
Wendy Sweet (02:30):
Tell all your friends, right? Please do that and you can ask question as well, easily ask questions. Over here in the chat box. Be sure to ask questions because we are here to answer them and later, if you come up with one that you'd like us to address, we are absolutely happy to do that. We know there's a lot of people out there that aren't going to give you the whole truth and nothing but the truth when you're being asked about anything to do with lending borrowing, you know, we want to get it all the ugly stuff out there. So there's no questions because if it works well when it's ugly, then it's a deal. That's the way I always look at it and you need to be prepared for bad things, right? Jonathan, whoops. You're muted. There you go.
Jonathan Davis (03:26):
Absolutely. I know we've touched about on this before. Like when I'm buying rental properties for my personal portfolio, I only buy them if they can still cashflow themselves at 10% interest and boy was I glad that I did that when COVID hit. So, you know, no one wants to pay 10% interest on a long-term loan, but if you can get the deal right and it can do it, you can weather a black Swan event like this, that just happens so if it worked, when it was ugly, it's gonna sure as heck work when it's pretty.
Wendy Sweet (04:05):
That's exactly right. That's exactly right. So we don't have any news because that's Bill's gig and Bill is on an airplane. Like, as we speak, he's flying. His arms must be tired.
Jonathan Davis (04:20):
He's taking one for the team and go into Florida and Texas, right?
Wendy Sweet (04:25):
Poor guy.
Jonathan Davis (04:27):
Yeah. Poor guy.
Wendy Sweet (04:28):
He's going to Freedom Founders first, which is the mastermind that we've been involved in for four, maybe five years now, that we absolutely love. David Phelps runs that mastermind and then he's going to leave there on a Saturday or Sunday, I believe, and fly to Tampa, poor guy and go to the Collective Genius mastermind there. So, yeah, Bill has the toughest job of all of us, I think. Don't you?
Jonathan Davis (05:01):
Yeah. We're left here to, you know, do all the work and, you know, Bill's, you know, drinking gin and tonics on the plane.
Wendy Sweet (05:09):
Well, we're trying to get all the loans in before the end of the year. That's the case. So we don't have any news for you, but we do have some two great questions and we are ready to ask the first question.
Jonathan Davis (05:23):
Yup. Yup. The first question Wendy is what do you do about judgments or liens if you are the lender. So judgment or lien on the property,
Wendy Sweet (05:34):
Ick! And, you know, we've had to deal with that quite a few times on what we do. So in our note and you'll correct me if I'm wrong, Jonathan, but in our note of recent, we have added a clause that says you have to get written permission from us to be able to add a second lien after our note. Isn't that correct?
Jonathan Davis (05:57):
Correct. Yeah. You'll see that in ours. And you'll see that in a lot of other lenders, it's, you know, it is a default trigger. Most lenders, you know, if you're paying and it's not a crazy combined loan to value ratio, they won't really do anything just because, you know, why would they if you're paying, but it is technically a default. If you don't get the lenders written permission to do so, they could call your note too.
Wendy Sweet (06:24):
That's exactly right. And people, people do it anyway though. Don't think, okay.
Jonathan Davis (06:28):
They think they're clever,
Wendy Sweet (06:31):
But we know. So what that does is the reason why we really don't like notes behind us. There's a couple of things. My first reason is if I have to take the house back, I'd rather do a deed in lieu than have to go through the foreclosure. If there's a second on it, I can't do that. I have to somehow wipe that second out. You know, my other thing is if I'm have a borrower that feels like they have to get a second in place, it makes me worry about the borrower and, you know, what's the problem that they have to be in deeper than we're willing to lend, to begin with. What are the some of the issues you have about? And we're just talking about just a second. What are your problems with that?
Jonathan Davis (07:13):
You know, if you go kind of take the, like, I guess the, the bank lending model, you really want to know that if there's a second or third or whatever it is, because you want an intercreditor agreement signed because basically if you're the first lien holder, you want everyone else to say, yes, we know you are the first one you get paid before everyone and you want that in writing, just so everyone's in agreement. And if you don't know about them, then you obviously don't have that in writing and it can just create rarely, but it can create issues down the road with, you know, who gets paid first? Who gets paid when? How? All those things.
Wendy Sweet (07:58):
Absolutely the real part of this question though is judgements and liens and what I'm mean are judgments and lanes from the city. You know, maybe the city's put in at a lien against your property, a judgment against your property for, you know, they charge you to clean up and cut the grass and knock a house down, those kinds of things, or a mechanic lane, you know, where your vendors have not gotten paid for some reason or maybe they got in an argument with a con the lead contractor and they felt like they weren't paid what they were supposed to get paid so they'll put a lien against it. When it's a judgment it could be against the company, which would tag on to every house they own at that point.
Jonathan Davis (08:57):
In that County.
Wendy Sweet (08:57):
Right. In that County. That's a good point. That's a really good point. So talk a little bit about judgements and the best way, well, how they affect you and the best way to handle them.
Jonathan Davis (09:13):
So, you know, judgments like, like when you said, they get tagged to the LLC or the, you know, whatever it is, incorporation. And they get recorded at the County level so when you do that, anything that that LLC owns, or is a part of in that County gets clouded with that judgment so you can't sell, like, you know, you owe $50,000 on a judgment to the city or County, whatever it is or whoever the contractor is, and on one property, but you have another property that you're getting ready to sell. Well, they record it. It's cloud in that title now. Now you can't sell it until you pay that $50,000. So, you know, that's the issue now. You know, if you only own one property in a County and they file that and all your other properties are in another County, it doesn't affect those unless they fall in that other County
Wendy Sweet (10:14):
So if you're a lender and you're making a loan to a borrower, that of course they're going to do it under their LLC, they get some sort of judgment filed against them and they have other houses that you have nothing to do with. And maybe that judgment is because one of those other houses and has nothing to do with the house that you have, it still goes against your house, the one that you have the judgment against, or the loan on.
Jonathan Davis (10:41):
Yep. So you, as the lender, you can't get paid back until that judgments, you know, satisfied.
Wendy Sweet (10:46):
That's exactly right. That's exactly right and we've, we've done that dance before, haven't we?
Jonathan Davis (10:53):
It's not one we enjoy, but yeah, we've done that dance
Wendy Sweet (10:57):
And it's difficult. We're going through one right now that, um, there is a judgment against a couple of houses that we want to take back. It's actually against the borrower
Jonathan Davis (11:10):
We don't event want to take them back. We just want to help them get sold.
Wendy Sweet (11:13):
That's exactly right and we have offers on them all, and we can't even get them sold until those judgments are taken care of but the ones that we're tried, the two that we've got sold, we can't close on because the judgment is really based on all of these other houses that they have, that we have nothing to do with and that have nothing to do with these two houses so it's frustrating and I mean, currently I'm dealing with the company, building supply company that put the judgment out there and the only thing I can do is negotiate a portion that judgment to be paid out with the sale of that house and of course, none of the proceeds would go to the borrower. It would go to pay that judgment off, but boy, is it a pain to deal with all of that? And, you know, if the judgements were really, really expensive, it could put a real kink in everything you have to do. So how do you wipe them out?
Jonathan Davis (12:18):
Yeah. So you pay them.
Wendy Sweet (12:20):
There's always that.
Jonathan Davis (12:20):
Or, you know, file foreclosure. I mean, you can wipe out judgements on properties from like, you know, material, mechanics, stuff like that. You can't wipe out federal judgments and,
Wendy Sweet (12:39):
States.
Jonathan Davis (12:39):
And you can't wipe out state and city judgments. So those, you know, you gotta pay those.
Wendy Sweet (12:47):
So when you do go through the foreclosure, you actually, can wipe out the judgments, but here's what really happens, you know, once you, the lender get all of your funds back, and that can be your principal, any unpaid interest, any late fees, any renewal fees, any attorney charges, what it costs to do the foreclosure, any expenses that you put out as a lender. Once you foreclose, that house is going to go to the courthouse steps to sell. If they don't meet your price, as the lender on all of the things that you're owed, then it comes back to you, the lender and you, the lender can sell it but any money over and above what you were owed in the first place, it goes to you, but any money over and above has to go to pay these judgments and lanes that were in place. I found that out. Now, if it's a city state or federal lane, they're first in line, always first in line and they'll get their money, they'll get their money. I promise you that.
Jonathan Davis (14:03):
They always do.
Wendy Sweet (14:03):
Yeah. So it can get kind of hairy. This is why it's so important to be in a loan at or below that 70% market that we talk about all the time.
Jonathan Davis (14:19):
Yup. These things get filed all the time and just being completely honest. I mean, I can go file a judgment against your LLC that owns properties right now. And then, you know, it would be, you know, you'd have to have the burden to prove that it won't, you know, that it wasn't valid or whatever, and, you know, every state's a little different and what makes a valid judgment/ most of them on the material mechanics, you know, contractor side, they have to file it within six months of being on the site and doing work. If they don't follow it within that six month period of doing the work, then it's not about judgment.
Wendy Sweet (15:00):
That's exactly right. That's exactly right. And it happens a lot more than you think it does with mechanics filing liens against properties and that's why it's really, really important if you ever, ever do a deed in lieu. Always, always, always pull the title first. You don't know what's going to happen. Right?
Jonathan Davis (15:25):
Yeah. Never, never do a deed in lieu, run recorded without knowing what's laying there on the title. So always get an update title report. Cause yeah, you do a deed in lieu, you just inherited all the problems that were there, if there are any
Wendy Sweet (15:42):
Yeah. And there could be things coming in, even after you do that pull between the time you do that pull and the time you take it back. There are other things that could come up against that property that would fall on you, the person that took it back. So you gotta really, really be careful when you do indeed and lieu and make sure you're covered on that. So, you know, I hate to hate to say it, but a lot of times foreclosure is, is your best bet when you're having to take a house back.
Jonathan Davis (16:16):
Yeah. When you're a lender, I mean, you know, the most sure way to make sure everything's extinguished is through foreclosure action.
Wendy Sweet (16:23):
Yeah. And it's going to show up on their credit report, it is a matter of public record. So a foreclosure will show up on their credit report it and it'll even show up on the background check, it's public record so it's something that will follow them for a very long time so it's certainly not our first road that we like to take, but you know, when you gotta do it, you gotta do it, right?
Jonathan Davis (16:51):
Yeah. So, I mean, depending on the link to the loan, if you're a lender, I would recommend down dating, which is just updating title. Every, you know, if you have a five-year loan, I do it every year. If you have a one-year loan, I would do it probably three months or at least a couple months before the maturity date of the loan just to see what was out there because if you want to extend it, you also want to know what's out there. You know, what's on that title as well. You know, are you going to extend a loan that has a second and a third lien stacked up on -it now? Or are you going to, you know, demand payment because you've lost confidence in the borrower. That's what's you gotta do.
Wendy Sweet (17:33):
That's right. And are there taxes pay? You know, if you have a loan that lasts longer than your original six months, 12 months, whatever that loan amount is, or the loan term is you need to check and make sure the taxes have been paid because you get notified that they haven't been paid as a lender. You don't get notified only the person who owns the house gets notified and it's easy to check. You can get rent online and check to see if the taxes have been paid. That very simple. So put that on your calendar and make sure you're checking to see if the taxes are not paid, because if they're not, it can certainly add up, especially if you're in a five-year loan, right? And the government will foreclose on you or sell it in a tax sale quick. That would not be pretty. All right. So we have a second question and that question is what are some red flags that you should be aware of if you want to refinance out of hard money? So basically what we're saying is if you're buying a fixed house and you don't want to flip it, you want to do it as a buy and hold. What are some of the red flags that you really need to know about when you want to refinance out of that hard money line?
Jonathan Davis (18:56):
Yeah. I mean, there's tust on the face of that. There's several that pop out. It's like one's credit score, you know, can you actually refi out, you know, I guess before we get into this hard money or private money, in my opinion is best used for acquisitions. Acquisitions, and repositioning. So when you take hard money, you acquire a property and you reposition it. Now, you have to exit it. So what, what is your exit plan? It's going to be sale refi. You know, your exit planning should never be keep in hard money. It should always be sale or refi. So then we get to the revised section. Are you able to refi it? What's your credit score? You know, most institutions are requiring, I mean, 680 plus credit scores to get at least a 70%, just a rate and term refinance and then the other piece is the property that you've just acquired and you repositioned does the rent comps in the area support the debt service coverage ratio so it can get refi.
Wendy Sweet (20:07):
Talk a little bit about that, that debt service coverage ratio. Talk about that.
Jonathan Davis (20:11):
The SCR and, you know, most lenders are looking there's a few out there that will do like a one-to-one ratio. That means if the payment, the taxes and the insurance is a thousand dollars and you make a thousand dollars in gross income on the property per month. That's a one-to-one ratio, a thousand to a thousand. Most of them require usually around 1.2, a debt service coverage ratio. So you should be making 20% more than what you're paying and in your interest, your principal, your taxes and your insurance. So that's what they look at. So yeah, if you get a property and it's, you know, the LTVs fantastic, but the DSCR is 0.9 and no one's going to refi. So rental comps are very important and, you know, people buy these properties and they're like, Nope, the rents in the area 850, but I'm going to do a great job and I'm going to get a thousand dollars. No, you're not.
Wendy Sweet (21:20):
That's exactly right. That, you know, a two bedrooms a two bedroom, you know, in a certain area, that's all it's going to bring no matter how nice you do it. Right?
Jonathan Davis (21:30):
Yeah. I mean, you, you could put, I mean, well, you're going to put granite in there. You're going to put backsplashes, you know, that's great. That's great. But there's, you know, unless you just know someone who's just going to move in and pay that above market rent. I mean, every property manager is going to tell you like, Hey, the market rents in this area are 850. We might be able to push it to 895, but you're not going to get a thousand. They are what they are.
Wendy Sweet (21:59):
That's exactly right. And I know a lot of people are buying property and wanting to do the buy and hold right now, which is, you know, a great market to be in there, there's no doubt about it. But you really need to be sure of your ability to get refinanced out of that. And it really depends on what it is that you plan on doing to that house. Is it going to be a long-term rent? Is it going to be a short term, like an Airbnb rent, which I like to do a lot, is it going to be a college rent where you can rent it by the room and charge a little bit more because you're renting it by the room? To people, all of that is great, but most lenders don't really care that you're doing Airbnb or college rent. They're going to base it off the market rent. Right?
Jonathan Davis (22:49):
Correct.
Wendy Sweet (22:51):
So they really care what they're looking at it. If we have to take it back from you, what kind of long-term rent can we get for it until we get rid of it?
Jonathan Davis (23:02):
They're not going to Airbnb it. They're going to throw it in there and say here's a 12 month lease.
Wendy Sweet (23:07):
That's exactly right. That's exactly right. There are other things that can keep a house from refinancing and it could be, you know, what, if it's in a flood zone and you didn't realize it was in a flood zone? A lot of times when you do a fix and flip loan, your lender is not always checking to see if it's in a flood zone and if it isn't a flood zone, that's really going to knock your rent income because that flood insurance is going to affect that PITI. That's part of the insurance. You're having to add in to see if it meets that criteria on what you're doing. Also, how odd is the house? Is it a triplex in the middle of single families and if it burns down, it can never be rebuilt as a triplex?
Jonathan Davis (24:01):
My scenario, I have two houses on one parcel and each house was parceled up, which they will be soon, but you know, if they were parceled up, you know, collectively they're worth, you know, probably doubled in what they are as a duplex comp, because when there's two houses on one parcel, they have to run it as a duplex and finding comps on duplexes is way more difficult than finding comps on single family homes.
Wendy Sweet (24:29):
That's exactly right. That's exactly right. So they're having to use those comps until you get that separated out. And, you know, you have to check with the city first to make sure you can split those two houses on a parcel because you're going to have to have so much red frontage for each house to be able to do that.
Jonathan Davis (24:48):
Yeah. You have to have the correct setbacks. You have to have the correct ingress eager as you have to have all that and yeah, you just can't say, Hey, I want to split my lot.
Wendy Sweet (24:57):
That's exactly right. That is exactly right. Here's another red flag. How about the borrower's credit score or the money that they have saved in the bank that they have sent back, talk about that.
Jonathan Davis (25:12):
So if they don't have any money saved in the bank
Wendy Sweet (25:15):
Well, they're going to have most lenders are wanting to see six months, not only for the house that they're redoing, but for the many other houses that you have, they want to see it for your primary too.
Jonathan Davis (25:27):
It really depends on what lender you're going with. So if you're going with like a credit union or a bank, it's going to be more strictly underwritten. That's where we like pull background checks and do credit checks. I mean, if, as a lender, if their exit is to refinance into a longterm like bank loan or credit union, do they have financial fraud in their background? Do they have a bankruptcy, you know, two years ago? Do they have a foreclosure that happened just a year ago? What back there? And as a lender, you need to know those things, because those are red flags. If they're like, yeah, I'm going to refinance. Well, you know, Billy Bob, I see that you have two foreclosure six months ago, you're not going to refinance it.
Wendy Sweet (26:14):
That's exactly right. That's exactly right. And they do care about your bank balance, your ability to save money, your ability to show that you've got enough money to make the payments that are coming up. They also, and in some cases I've seen them care about whether or not you're going to self-manage or have a property management company and is it your first deal? They care about that too, don't they?
Jonathan Davis (26:38):
Oh, yeah. Yeah. I mean, we can talk about all the mistakes that we've made. You know, I went to refinance some properties with a credit union and like a big dummy, I gave them my whole portfolio of properties that I owned thinking. Yeah. You know, they'll refinance me when they see all that, you know, that I have here. Well, there were several of them that were still in the construction phase or rehab phase and they weren't income producing. So the bank looked at it and said, yes, we see that this property you want to refinance cash flows and cashflow as well. But we're worried about the other properties that you have that are, you know, under rehab right now that aren't, you know, producing income and I was like, why are you worried about those? I'm refinancing these
Wendy Sweet (27:31):
And you have lots on place with the rehab money, right?
Jonathan Davis (27:33):
Yup. And so they said, we can't do this loan because, uh, your global DSCR is not where we need it to be. So just be aware, you know, you know, sometimes people, you know, banks will only need to see maybe what they just need to see.
Wendy Sweet (27:50):
That's exactly right. I always tell people, only give the information that they're asking for. Don't give them more because it only opens up a new can of worms.
Jonathan Davis (28:01):
If I had to do it again. I would just give them those two properties and say, here it is.
Wendy Sweet (28:06):
Yeah. And that's what they would look at. So that's really, really, really important. Now, it is a little bit easier to get refinanced if you're using a, what I like to call a quasar I private lender or hard money lender, rather than your local bank or credit union. I'm not going to get the best rates from the local bank of credit union by far. But if you're doing this, the end of the east quasar hard money kind of companies, you're going to pay a little more in points and you're going to pay some pretty serious rates. You know, we've seen them down, you know, in the low sixes, but being in the sevens and eights is not unusual these days, right?
Wendy Sweet (28:46):
Oh yeah. No, not at all. I mean, we're seeing, I mean, I see guys are quoting in the, you know, Flo fives. I'm not sure, I'm not sure I know anyone who's gotten it since March, but see, I'm quoting there. I mean, that's the, no, that's one of the fun things you get to see as a lender. I see a lot of people quote, a lot of low rates. I don't see them close a lot of loans, but the guys who are, you know, are quoting, you know, those six, seven, eight rates on those they're closing loans.
Wendy Sweet (29:21):
They sure are.
Jonathan Davis (29:21):
They're closing them. So, I mean, it's a gamble. I mean, you can chase that low rate for that promise that, you know, someone's going to do it and I'm with you. I hope you get it. But more often than not, we're seeing them not getting it. And they're coming back with, you know, six, 7% rates. And instead of just going with the guy who does the seven or 8% rate and getting it done in less than a month, they're going with these other guys chasing these lower rates and getting a very similar rate and it's wasting three or four months.
Wendy Sweet (29:54):
That's exactly. That's exactly right. That's exactly right. You know, another red flag that I see when people are worried about getting into a refinances, if they are counting on cash out at that refinance, they're really counting on that to move forward in their life, to get other things paid off. They're going to have a tough time.
Jonathan Davis (30:17):
Yeah. Yeah. If your sole source of income, or I guess I wouldn't even say wealth, but just your money is tied up in equity and you're banking on a refi to get that equity out. We tell you a story of a guy who could probably buy and sell Wendy and I a hundred times over and he owes probably nothing on his house and the best bank would give him with a 30%, you know, cash out of it. So it's like, like if he's only getting that, I mean, they're not willing to give a lot of cash out. So to bank on that is, I wouldn't say foolish, but man, you're really gambling.
Wendy Sweet (31:06):
That's right. We have people coming to us all the time that have, you know, great spreadsheets. Their P and L's look good, you know, their equity looks great and what they have, and they want to borrow money against their pay for, uh, houses all the time to get cash out and we immediately, like, you know, for me, my cheeks tighten up like, Ooh, why do you need cash? Why are you willing to pay 10, 12% to get cash out? What else is going on in your world that you have to come to me to get your money, right?
Jonathan Davis (31:46):
Oh yeah, exactly. I've done cash out refinances. I'm not a fan. There are always circumstances that can merit it. Now, in my opinion, you know, we, you know, I can only put things through the filter, which I have, which are my experiences. And a lot of my experience, our cash out doesn't, isn't always best for the lender. That's great. I'm getting this property that somehow you were willing to hand over, to pay 12% interest on or whatever the interest rate is to get some cash and now I've just put a lot of cash in your pocket, something goes wrong. It's really tough to motivate you, to get in contact with me.
Wendy Sweet (32:32):
That's right. Especially this market because you don't know, what's happening. You don't know what's going on and what to expect and you know, where did all their money go and what is it that you plan on doing with this money? That's why we like to control the rehab money. Right?
Jonathan Davis (32:51):
That's right. If someone tells me they need to cash out because they want to start a new chicken wing enterprise, it's a no.
Wendy Sweet (33:01):
It's a hard no. So, you have spent a wonderful, let's say a little over 30 minutes with us hearing about these two ugly questions that we've had to answer and have had pleasure in answering this for you. Anytime that you have any questions for us about loans, we would absolutely, or lending. We'd absolutely love to answer those questions. They don't all have to be ugly, but, you know, we wanna definitely answer those questions for you. You can ask those questions anytime, even after the show. Please do remember to like share subscribe and I'm not sure what hit the bell means.
Jonathan Davis (33:42):
Hit the bell!
Wendy Sweet (33:42):
But we would love to hear from you tell your friends about what we're doing here. Our goal is to just share. We want to teach. We want to keep you from stepping into the same holes we've stepped in. Right?
Jonathan Davis (33:58):
Exactly. And go to our website, CarolinaHardMoney.com. And if you're an investor, you can click the investor tab, which is you want to invest into our fund, your accredited or the borrower tab if you would like to submit an application to get pre-qualified for a loan.
Wendy Sweet (34:16):
That's right. That's right. So thank you so much for spending time with us folks. Join us next week at the Passive Income, Active Wealth show. We look forward to seeing you again.
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