Posted by RealtyNoteBid.com Team on December 13, 2011 under Notes | 
Today’s featured auction is a non-performing note on a 6 bed /3 bath Residential single-family home with approximately 1,890 square feet of living space. The current bid on this property is $16,000 – This is an 88% discount on the original loan amount.
The house is located at 4932 S. Justine Street, Chicago, IL 60609 which is 16 minutes drive from downtown Chicago. It is in a neighborhood with close access to restaurants and schools. In addition, the house is also located only a few minutes away from Sherman Park which has two gymnasiums, an auditorium, fitness center, and multi-purpose rooms. Outside, the park offers a swimming pool, three playgrounds, basketball/tennis courts, baseball/softball diamonds, soccer/football fields.
Non-Performing Note Auction
Discounted: 88%
Current Bid: $16,000
Address:
4932 S. Justine Street
Chicago, IL 60609
6 Bedrooms • 3 Bathroom
Approx. 1,890 square feet
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Posted by DerekAlan on May 23, 2011 under News, Notes |
I’ve had the opportunity to look through a pool of 150 distressed notes a close friend recently invested. These notes are scattered across the US with some concentration in the expected regions (Detroit, Cleavland, Birmingham, etc.). This brought me to the question, “what is your anticipation for this pool?”
Note pools have been popular investment vehicles as of recent. However, I am curious how many of these investors have a plan beyond, simply, “flipping” note because of a deeply discounted price. Sure, these notes look very w”workable” on paper, but how many times do these investors look beyond the numbers?
Is there any real consideration to a renegotiation with the tenant? Do these investors have any desire to turn a non-preforming note into a preforming note?
There, certainly, isn’t much of a sincere support network to facilitate this investigation and negotiation process. Most of the contractors that attempt to renegotiate these notes have never been the city (let alone the neighborhood) where the property exists.
This asserts the issue that smaller investors, which have the desire and focus to scrutinize their investment, may in fact have a deeper found success through distressed debt investing.
Send me your thoughts.
Posted by DerekAlan on May 12, 2011 under News, Notes |
In an article posted today on CNN Money, analysts noted that rising housing costs and weak income gains are creating an expensive housing rental market. “These affordability problems are marching up the income scale,” stated Eric Belsky, managing director of the Harvard Joint Center for Housing Studies.
For the team at RealtyNoteBid.com, the excitement to offer opportunities to investors grows with each article like this one. Many REIT funds are too large to care about adding individual notes or properties to their portfolios.
Enter teh savvy real estate investor through RealtyNoteBid.com. Understnading the foreclosure porcess or flexibility behind owning the note attached to the property, can lead to investment with long term yields that far exceed any other financial vehicle.
Give us a call or send us an email for more information.
Posted by DerekAlan on February 18, 2011 under Notes |
Today we present a 2 bedroom, 1 full-bath in Detroit, Michigan. Check it out today! This house is secured by a non-performing real estate note up for auction at RealtyNoteBid.com.
We’re thrilled to offer it at a low starting bid of $2,500 — that is 94% off the current principal balance. This lender has discounted the note in order to sell quickly, and it wont last long! Check it out!
Current Bid: $2,500
Single-Family Residential Home
2 bedrooms
1 full baths
Approx. 811 sq. ft.
