you guys do know he is holding some of these properties in his own name right? So if anything happens tenent sues he loses the property, RULE #1 in real estate investing protect your ASSets. I got a message and a payment from a noob to do some digging so more info to come. Might take a while the county this security operates in must be bumfuck egypt there records systems sucks donkey balls and I am having to do everything by runner.
Guess paintball equipment sales is high on the list as well
FURY PAINTBALL SUPPLY, LTD. 04/24/2003 Changed name to YOUR NEW HOME LLC. Status ACTIVE:
Bigger pockets link
http://www.biggerpockets.com/users/schockergdI currently hold two rental properties. One is in the final stages of being rehabbed and the other is done, waiting to be filled by a tenant.
I just applied for a refinance mortgage for the two properties and was denied due to having insufficient income to support the loan.
Personal income is ~$40k/yr <---------- This is low for a decent real estate agent
Rental income on these two will be $1675/mo
A good deal of cash reserves
FICO ~640
ARV of both properties is ~$160k , looking for $100k in refinance (62.5% LTV).
I'm waiting on the 'official' denial letter but did get a call from the branch manager stating that I was denied. I'll be looking at what all is on my credit report and if there's some loan/property in my name I'm not aware about, as I should have very, very little tied to my name in terms of monthly expenses/loans.
This is means he is holding properties in his own name using his own credit profile. You decide how you feel about that.
He could not obtain financing on his personal credit thus turned to the bitcoin community, nothing wrong with that. But checking his post on Bigger Pockets looks like he had failed at every other type of fund raising he had tried.
Property bought or sold between 6/1/13 and 7/10/14
Having problems finding any of the properties he has listed
Search of street name "logan" with no hits on his company or name.
http://pickaway.iviewauditor.com/Results.aspx?SearchType=Address&Criteria1=&Criteria2=&Criteria3=logan