"The most powerful force in the universe is compound interest."
Albert Einstein
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Our most recent project involved the acquisition of a portfolio of 18 single family homes in the Concord/Kannapolis area of North Carolina.
NOW CLOSED
Most of the homes are sturdy mill houses, typical of this area, built in the mid 1930's to house the managers and other employees of Cannon Mills. Most are currently occupied by renters who we hope to turn into owner occupants by providing them a quality, affordable home - the very one they are renting right now - and at less per month than they may be paying now in rent.
For those partnering with us on this project, the returns are very attractive, giving an average return of 28% per year over the next seven years.
How can we offer such an amazing return to our partners? Here is how it works:
For their investment, each partner will get a 1st mortgage lien on one of the houses in the portfolio. The face value of the mortgage will be for 90% of the value of the property, but the investor will only have to fund 80% of that face value, that is an investment of 72% of the current value of the property. Over the next seven years, the partner will receive monthly payments, with our company as guarantor not the owner occupant. At the end of seven years, the note will come due with a balloon payment that is more than the initial investment.
Here is a sample of how an investment by a partner in this project looks using the average value of one of these homes.
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Gold Seal Layered Protection Mortgage TM: The owner occupants will put up 5% down and get a wraparound mortgage at a reasonable interest rate and monthly payments they can afford on a home they already are enjoying. Closing costs will be minimal and we will work with them over the next several years to improve their credit situation so that they can easily refinance when the balloon payment comes due in 7 years. All mortgages will be in full compliance with current and evolving legal statutes, including the SAFE Act.
The advantage to our partners of a Gold Seal Layerd Protection Mortgage TM: Because we are guarantors on the underlying first mortgage to our partners, we have a vested interested in the success of the owner occupant. If they are unable to make their payments for some reason, we will continue to make payments to our investors while we handle the default of the owner occupant at our own expense. This dramatically reduces one of the biggest deterents that keeps many people out of real estate investing today.
If you are interested in participating in this or other projects please feel free to contact us.
NOTICE: For anyone wanting to invest with us, we can only work with friends, family and associates living in North Carolina, as defined by the SEC. For those wanting to invest in 5 or more units, this becomes a commercial deal and is available to a wider audience.
DISCLAIMER: This is not an offer to sell. Investments in real estate are considered securities and are only offered in conformance to both State and Federal statutes governing the sale of securities. Charlotte Wealth Partners conforms with all applicable legal statutes governing the sale of securities. For full disclosure and disclaimers see our Disclaimers Page.