1st Lien UPB of $50,323
$18,150 purchase price + Attorney Costs + Fees
$35k FMV per BPO
4-6 months for DIL
Joint Venture on a non-performing note in Pensacola, FL at 36% of fair market value (FMV). The property is a 2 bedroom, 1 Bath, 720 sq. ft. SF home built in 1968. It is located in a strong rental area. Borrowers currently occupy the property, so we will immediately look to get the note re-performing, or get a Deed-in-Lieu for the property. Projected returns on this investment is 38.3% within 12 months, returning our JV partner a 19.15% ROI.