3539 Judy

Before Rehab

Images are forthcoming!


Address: 3539 Judy St, Columbia, SC 29223
Property type: Contract for Deed Note
Purchase Price: $12,000
ARV: $35,000
Date of Purchase: 04/29/2016
Projected timeline for refinance or sale: 8 months
Projected ROI: 90-130% Annualized  
Managing Partner: Vil Nikollaj
Ground Partner: Nathan Turner
Company: Canadian Note Guy
Contact details: nathan@canadiannoteguy.com; 450-864-0154


AddressProperty typePurchase PriceRehab costFinal Sales PriceDate of PurchaseProjected timeline for
refinance or sale
3539 Judy St, Columbia, SC 29223Contract for Deed Note$12,000N/A$35,00004/29/20168 months
Date of SaleSales PriceCoCAnnualized
% Difference of Projected
vs Actual ARV
% Difference of Projected
vs Actual Rehab
% Difference of Projected
vs Actual Timeline
Source of


Ready to go into foreclosure. Taxes were withholding foreclosure, which are now paid. Property secured. Realtor ready to sell for $40k.


The foreclosure process is near completion and we will be pursuing the sale of this home immediately after.


Foreclosure is proceeding with this note and so far the expected completion is September. I have spoken with a local investor though and will pursue that lead to see if we can exit out sooner. I also will continue to see if we can locate the borrower for a deed in lieu and speed up the process.


Forfeiture has finally started on this note. There were some discrepancies with the numbers that had been sent by the old servicer so it took some time to get that sorted out before the official demand letter could be filed. It was filed on Feb 1 and should complete in April at which point we’ll sell.


Foreclosure was held up because of missing documentation coming from the old servicer. This has been recovered and we are back on track. I will be at a conference this week close to the attorney’s office and will drop in to say hello and make sure we’re moving as quickly as possible with this an any other notes in legal.


One of the letters that had been sent from Peak to the borrowers was found to have a mistake in it and has been resent. This will slow down the progress of the forfeiture since that letter needs 30 days to expire before they can continue. Expected completion should be late January or early Feb at which point we can list the house for sale.


The foreclosure for this property is well under way and should be done by the end of the year. The house has been secured and is being monitored by the property preservation company there. Once this gets nearer to foreclosure completion I will have more updates for timing.


I contacted a home preservation company and they have gone out to secure the house after a neighbor sent me a letter as a concerned citizen. We are still in the forfeiture process and that should be completed in November at which time we can list the house for sale.


In process of cancelling contract. Should be done around Nov and we can list property then.


Cancellation of contract has started and I expect it to be done by November at which time we can list the property. I got a letter from a neighbor last week though saying that she was concerned about people potentially breaking in. She says that the borrowers moved out Jan 1 and have since been back several times to pick up mail and other things that they had left behind. One day she saw an unfamiliar truck pull up though and she could tell they were up to no good and chased them away. I called a local property preservation company on Friday and they are willing to go out and do an inspection and board up the house for $250. This company is also a real estate brokerage and would be willing to work as our realtor once the existing contract is cancelled. I’ve included the $250 in the bills attached.


The breach letter for this loan expired on Aug 5 and a referral to a local attorney was sent on Aug 8 to start the forfeiture process. That process will take 3-4 months at which time we’ll sell the property.


A breach letter was sent out and expires on Aug 5. Once that expires we’ll start the forfeiture process right away and work toward taking back the property.


A breach of contract letter was sent on June 27 to the current borrower as a first step in getting the borrower’s attention and starting the forfeiture of contract process. The letter needs 30 days to expire before we can start a forfeiture and we’ll see if during the 30 day period it can elicit a response for a possible loan mod or deed in lieu.


The servicing transferred on this loan to Peak servicing and I have asked them to send out a “breach” letter letting the borrower know that they either need to bring the account current or face eviction. This letter is intended to both get the process started on the eviction and elicit a response from the borrower to see if we can come to another arrangement. The borrower has 30 days from the date of the letter to respond and if they don’t we automatically proceed with contract cancellation and eviction. I have asked Peak to let me know what day the letter was sent and expect to hear back before the weekend.


Collateral docs arrived and were added to Dropbox yesterday. I also have a follow up in to the servicer to make sure the notice of default letter was sent to the borrower for Judy St.


I’ll be receiving collateral docs for Judy in the next week or so and will send out a breach of contract letter as soon as servicing transfers on May 20. That takes approx 30 days to expire at which point we can move ahead with cancelling the contract. If the borrower cooperates the contract can be cancelled within a month and if not the process will take 4-5 months at most.


New purchases for 325 Cedar Cir in Adamsville AL and 3539 Judy St in Columbia SC closed last week on Thursday Apr 28. Collateral and servicing transfer will now commence and I expect both to be done before the end of May.


Date of Purchase