NON PERFORMING NOTES WANTED

RFQ Description

I am a member of a small group of individuals interested in purchasing packages of non-performing notes secured by mortgages on real property and institutionally owned properties. Specifically, we would like to purchase packages of NPNs that are six or more (ideally nine plus) months past the filing of lis pendens, as well as certain REOs, of one to three family homes in the New York metropolitan area. Whenever possible, we intend to workout the loans with the owners and use foreclosure as a last resort. The members of the group own numerous buildings in Manhattan as well as in the other boroughs. Certain members have significant holdings outside of the New York area as well. For the most part, the properties owned are multi-family residential buildings. Furthermore, within the group, there is extensive operating experience, since the group includes owner/operators of real estate portfolios and the principal of a property management company. In addition, the group consists of two attorneys and has extensive structuring experience, including workouts, foreclosures, conversions, etc. Certain members of the group also have extensive private equity and corporate finance experience. All members of the group have significant financial resources.In general, the group is a strong, seasoned team that has the financial, operational and legal wherewithal to invest in and manage the aforementioned portfolios. It is our intention to ramp up quickly, create sustainable growth and become a significant institution focused on the NPN/REO market. We are looking to develop strong relationships in order to allow access to attractive NPN/REO packages and create a mutually beneficial arrangement as our involvement in this field grows. We would like to start off with an attractive package of 20 plus NPNs/REOs. I am confident that you will find working with this group of successful and seasoned professionals to be a pleasure and hope it will be the beginning of a long and prosperous relationship. Thank you so much for your consideration, and we would appreciate a meeting in which we could get acquainted. distressed properties, real estate, foreclosure distressed multi family property, non performing notes,