NPN specs, need some real help.

[Robert Crossley]

Okay BP, I'm calling on you guys for some real help here. I'm a serious novice when it comes to notes almost all of my investing is in multi families. Was contacted about buying the non performing note and I have little to no experience in the area. I happen to have an office in this exact same complex so I k ow the area well. There is nothing in this complex for less then 2million at this size. So what am I missing here? My limited understanding tells me there's about a million things on the note, they're already in default so I buy the note go through a for cluster process and have a 2 million dollar asset to sell. What am I missing here's the details > >> We have available the NOTE on a non performing commercial property in the *location removed*. The property is currently > >> > >> in default as the loan matured in February and has some back tax issues. SUMMARY > >> > >> 6400 SF Office Building > >> > >> 6400 SF Lot > >> > >> Built 1974 > >> > >> Features, 5 private offices and meeting rooms, > >> > >> 4 restrooms, 2 with showers, > >> > >> commercial quality kitchen..perfect for > >> > >> architects or engineer or others > >> > >> Loan Matured February 2016 > >> > >> Current Default Rate 18% > >> > >> Monthly Payment $5,501 > >> > >> NOD's Filed in 2014 and 2017 > >> > >> Comps at $1.8MM > >> > >> CURRENT UNPAID BALANCE > >> > >> $1,039,000 +3% fees to be paid by buyer