Deal of the Week

We’re thrilled to bring you this week’s highlight from our portfolio, a testament to our dedication and expertise in transforming challenges into triumphs. Here’s a closer look at the journey and success of one of our recent assets.

Deal Overview:

• Property Status at Purchase: Non-Performing
• Total Amount Owed: $72,222
• Past Due Amount: $6,313
• Acquisition Price: $46,500
• Current Property Value: $215,300

Our Journey:

In April 2023, we strategically acquired a non-performing note as part of a pool of 16 other assets. The borrower was 10 months behind, and we started to take decisive action by engaging our legal team to navigate the complexities ahead…

However, there was an unexpected turn of events when the borrower unfortunately passed away in October 2023.

Thankfully, the borrower’s daughter was proactive in reaching out to us in November to send us her father’s death certificate and to advise us she was in the process of cleaning out the home to put it on the market for sale. The property was subsequently listed for sale in January and sold quickly with a closing in February.

Outcome:

In February 2024, the borrower’s heir & our team’s willingness to work together culminated in the sale of the property, which resulted in the heir paying off the loan in the amount of $81,418. This resolved the debt and yielded a total profit of $27,143. The borrower’s heir kept the profits of the sale after the payoff, resulting in a financial win-win situation for both the heir and our team.

Why This Matters:

This deal exemplifies our unwavering commitment to navigating through adversity, our expertise in legal and market strategies, our dedication to maximizing investor returns, and our willingness to work with borrowers & their heirs for a win-win outcome. It underscores how the importance of perseverance and the ability to adapt as a team can lead to outcomes that can be deemed “as good as it gets” given the unforeseen circumstances.

Looking Forward:

We’re excited about the future and are committed to uncovering more opportunities like this one. Our team is dedicated to transforming challenges into profitable outcomes and continuing to share these successes with you.

Thank you for being a part of our journey. We look forward to celebrating many more successes together.