This is a portfolio of bank owned properties that will be purchased by a non-profit. They need a partner to fund this transaction. If you are interested in more information please contact me at firstname.lastname@example.org.
The buyer, the non-profit, is open to either a debt or
equity lending partner and is willing to guarantee a minimum return so
it's a very secure setup on paper. Details are below.
This is a portfolio of 131 REOs and 14 first position
Non-Performing Notes all across the country. Most properties in the portfolio
have delinquent taxes and some of them may even have city liens applied
to them. Currently selling the entire portfolio for $1.2mm.
This buyer is a Non-Profit organization that uses real estate to finance
their operations rather than taking state or federal funds. The benefit
of being a Non-Profit with these deals is that they are able to have the
taxes on properties completely waived for free in exchange for a tax
donation write off to the applicable cities and counties. With this
portfolio, they are going to eliminate the taxes (at their own expense),
make the properties free and clear, and then quick-sell the portfolio
for between a projected $2.3mm and $2.6mm. We purchased a current
valuation analysis on the portfolio from TREO and it is estimated to be
worth north of $3mm in as-is condition so if the buyer resells them
one-by-one, it would take longer but be much more profitable.
It's a pretty ideal situation for the right lender.