3086 SW Sunset Trace – Foreclosure Deal1st Lien UPB of $155,968 + 2 years rearrages$55,000 Purchase Price + Attorney Costs + Fees$100,000 FMV18 Months to ForecloseWe picked up this clean 2 bed, 2.5 bath, 1236 sq ft condo note from a hedge fund. It took us 18 months to foreclose in Florida after several delays by the borrower’s attorney. We sold it at the foreclosure auction for $95,000. We netted a $40,000 profit that we split with our Joint Venture partner on a 50/50 split after expenses/investment was paid back. The investment yielded an annualized 24.2% ROI for our funding partner. This deal took a little longer than our normal 12 month time frame

1621 SW 29th St, Cape Coral, FL – DIL REO Sale1st lien UPB of $143,750 + 3 year of arrearagesPurchase Price of $55,000$110,000 FMVReceived Deed in Lieu of Foreclosure and sold full price in 60 Days!We purchased this note from another hedge fund and discovered that the home had been listed for short sale 6 months prior to our purchase with online photos showing the property in good condition and vacant. Upon closing, we discovered a signed Deed In Lieu of Foreclosure (DIL) in the loan file and we were able to list it immediately as an REO sale with a local realtor.We received a full price offering of $110,000 within a week and closed on a sale to retail buyer in 60 days. We ended up netting $99,000 at the closing table after taxes and closing costs were paid yielding a $44,000 profit. We paid back the investment of $55K to our JV partner first and split the profits 50/50 yielding in a 40% ROI to our investor in 60 days.