Originally posted by @Joseph Binkowski:Hey BP Community -I was sitting-in on an investor presentation for a syndication of an attractive 320-unit Class B MF development in a fast-growing market, and then I realized... it was a 506c project for accredited investors only [which I am not.. yet:)]So then I began thinking...How can I possibly get involved?

If/when the borrower defaults, they file the Deed in Lieu as a way to circumvent foreclosure regardless of what the borrower wants or the circumstances.

After analyzing hundreds or even thousands of deals, you develop an intuitive understanding of not just the numbers but their sensitivity.

Quote from @Jason Hatfield: @Jaycee Greene  they require a non refundable deposit and give 48hrs to see proof of funds I would suggest developing a relationship with an HML/PML that would give you a "guidance line" that would basically be a "pre-approval" for situations like this to present to the buyer/auction company.

The population is officially growing again, and there’s been a lot of investment in infrastructure and development in recent years, which makes it unique compared to some other Midwest markets.One thing to keep in mind, though, is that Detroit is very much a block-by-block city.

They should also have proposed or preliminary site plans approved for the remainder of the development.

Summary: 7 loans outstanding: 4 in foreclosure, 1 in default - trying to develop a plan before I begin foreclosing, 1 current, but has needed multiple payoff extensions, 1 current with no issues.

At this stage of your life, communication skills are most important so be sure to develop those.

I would confirm this first.Otherwise, I just use Excel and develop my own pro forma from there.

And the changes, such as regulation, city development, traffic flow, building views etc happen very quickly.