The first Note Investment that started it all!

[Harrison Silverstein]

Investment Info:

Single-family residence note investment .

Purchase price: $13,746.12 + $1,850 Trade Desk Fee
Cash invested: $4,894.87
Sale price: $30,095.22
ROI: 61.45%

Borrower was 6 months delinquent. Home was in an appreciating neighborhood, planned to pursue legal recovery of the property. The borrower expressed interest in keeping the home. We offered a few solutions, ultimately the borrower was able to make a full payoff of their loan. 

What made you interested in investing in this type of deal?

The asset fit my risk assessment criteria. Confirmed through thorough and efficient Due Diligence.

How did you find this deal and how did you negotiate it?

Part of the monthly inventory the Note Assistance Program releases to its members.

How did you finance this deal?

All Cash from business

How did you add value to the deal?

I reached out and engaged with the borrower. Negotiated a purchase price for the budget we were working with. 

What was the outcome?

Borrower got the deed to their home during the pandemic. One less thing to worry about during 2020.

Lessons learned? Challenges?

The FMV of the property was upwards of $80,000 by the time we were closing with the payoff from the borrower. The wholesale listing would have been a home run, but I can't complain with 61% ROI. I get to reinvest my money quicker and the borrower now owns their home. Win-Win scenario.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Worked with local attorneys when negotiating the options the borrower had to save their home. The attorneys I worked with were amazing and I look forward to using them again.