Deal of the Week
Treasure of Investment Opportunities
We are thrilled to share our latest treasure of investment opportunities: a shining Diamond in the Rough!
This week, we bring you a deal that exemplifies resilience, potential, and promising returns.
Here are the sparkling details:
🔷 Loan Balance at Purchase: $66,000
🔷 Acquisition Price: $48,500
🔷 Property Value: $350,000
🔷 Actions Taken: After purchasing this asset in May 2023, our servicer encountered difficulties reaching the borrower, prompting us to take swift action. A demand letter was sent in June, marking the beginning of a transformative process. The borrower came to the table to work something out – what we do best at 7e.
✨ Outcome: As of February 2024, the borrower has demonstrated commitment by making payments totaling $9,125, which accounts for 19% of the acquisition price within just over eight months.
But here’s where the true sparkle lies: The borrower has pledged to make double payments every month until they are fully current. This dedication reflects a genuine desire to honor their commitment and restore the radiance of this precious asset.
💎 Amidst the challenges, this asset stands as a testament to the win-win solutions we champion at 7e. Like a diamond in the rough, it possesses untapped potential waiting to be unveiled.
Looking forward to sharing more insights into our portfolio! If you have any questions do not hesitate to reach out!
