All Forum Posts by: Ronald Cooperman

I will. The guy with troubles owes 8 banks including mine. The result is my bank reduced our new borrowing. We own 24 properties 2 mil in LTV with 700k in debt. Searching for new bank as we talk.

Are there people to partner with where we guarantee we will buy the properties? Or co invest?

Ever eat at Weiss Deli?

Jay 

Thanks. 

Would you contact the bank now?

You play golf?  Before a car accident played many a round at southern highlands. One of my favorite courses

We invest in new jersey. Buy and hold. 

In our area another investor has ran into financial problems.  His properties are over leveraged. 

One bank has put 3 of his notes up for sale.  Each note contains 6 properties. The properties in notes 1&2 have small tax liens the 3rd note package has large tax liens. 

Our attorney advised us to chill and wait till the bank starts to sell the properties individually    

Our goal is to own the properties in packages 1&2 or all three packages with clear title. 

We went to the current owner with an offer to buy the properties subject to us getting clear title. He was on board and said he went to the bank with our offer 2 weeks ago. Now I think he is sitting on the offer trying to figure a better plan for himself

Our goal is to own the properties. We have the bank’s contact guy info. 

We want to buy the portfolio with clear title at 70 cents on the dollar assume tax issues at 10 cents on the dollar settlement etc 3-5 cents. 

Basically we want the bank to take a 50 cent haircut. 

The loans are non performing as of August 1 2018

Appreciate any advise

Tara,

Tara

My sister in law lives in Westfield,  beautiful area.  We are buy and hold B areas in southern NJ.  Bought 3 properties in a package.  The 3 flood policies were over 1000 a piece.  Normal homeowners was 600. Crazy. 

Thanks for the advise

Jason 

Thank you. Will call them Monday. 

I specialize in flood insurance. 

Send me your address. Amount of coverage. Current premium and your email. 

I will send you a quote

Ron

Just bought a property that requires flood insurance.  Called my insurance broker and was shocked by the cost.  Any suggestions. Florida

Just bought a property that requires flood insurance.  Called my insurance broker and was shocked by the cost.  Any suggestions. Florida