Deal Breakdown

1st Lien UPB of $43,955

$5,750 purchase price + $5,510 delinquent taxes + Attorney Costs + Fees

$34k FMV per local realtor

12-14 months to foreclose

Purchased a NPN on a SFH in Toledo, OH at 18% of unpaid balance (UPB). The property is a 4 bedroom, 1 Bath, 1,558 sq. ft. home built in 1912. Toledo is rebounding in both sales comps and rentals. Platinum Ventures will first attempt to get borrower to begin re-paying on the existing terms of note since rents are much higher than their monthly payment. If unsuccessful, next steps would a DIL or Foreclosure (FC) to acquire property. The timeline for this investment is expected to be 12-14 months, with a projected return of 32.6%.