They likely sell their promissary note to JG Wentworth in exchange for a lump sum payment.

Here's the deal:Actual Proforma 12 unit asking price 480kOther income 1800Rent Roll 65820Adjusted gross 62529Current Taxes - 12076Insurance - 3149Water - 1455Maitenance/ repairs 4700Electric - 1535Maintenance - 0 (Cheaper rent in exchange for management $150 instead of $575) I have only seen the outside of this property.

Jon,I believe you're on the right track, I know that these notes cannot be traded by anyone other than a securities exchange, stock broker, I was informed today vaquely about them but it's still uclear until I read your post.It's no problem on non and performing notes to deal with them but the MTN's are a whole diferent ball park.

While buying REIT’s are a perfect way to diversify your real estate portfolio they, unfortunately, do not qualify as a suitable replacement property for a 1031 exchange.

But do so in a 1031 exchange, which defers all tax into the next property purchase.

(read up on when Greece had a currency problem)  You could refi and cash out but if everything goes down like you think it will, you will own the property and be upside down too.

Quote from @Michael Smythe: Don't sell until you identify where you can invest the proceeds for a better return.Interest rates are now highest in 20+ years and will make it more challenging to find better ROI on new purchases.I don't get it, he's got 6 months to find something once he 1031 exchanges.

If they are in the US I would be skeptical as the US and SEC has no jurisdiction.Advicorp Fidelity is a fully licenced and regulated Cyprus Investment Firm (CIF) supervised by the Cyprus Securities and Exchange Commission (CySEC) (License Number 124/10.

I will sometimes exchange a first right for not prosecuting back space rent.

The exchange rate between the US Dollar and the Colombian Peso is also an advantage for American investors.