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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: patron_anejo_por_favor who wrote (263119)7/22/2010 4:26:35 PM
From: ggershRead Replies (1) of 306849
 
But the FDIC is altogether another story?

This is the note that we are currently reviewing. The names cannot be contacted, by nature of FDIC rules. We are receiving this note at a fraction of the cost. and are looking to flip it back to the current property owners. The current owners are unable to talk to the FDIC, due to qualification rules. This note was taken possession by the FDIC from a failed bank and offered out to us. We have had a cursory look, and are now awaiting further details after we provide Proof of funds and a Letter of Intent. We are looking to raise $1.5 million, to co inside with financing we have in place, for the balance of the purchase price of $8.5 million. The capital investment will receive 25% of the net profit. The expected length of time should be no more than 120 days.
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