A Quick Turn Around In San Antonio

Purchase Date: 13 OCT 17

JV Funding Date: 17 OCT 17

Sale Date: 30 NOV 17 

Closing of Books: 26 DEC 17

Note Cost: $23,221.03

JV Workout Costs Contribution: $4,600.97

Total Investment: $27,822

Sale Price: $33,640

Check at Closing: $33,640

Payments from Borrower: $345.66

Profit after Expenses: 11,138.70

50/50 Split: $5,569.35


We purchased this note in October of 2017 as a semi performing note for 55% of UPB as part of a pool purchase. During our due diligence, we offered a list of notes to FNAC out of Michigan. They made us some offers ranging between 80-85% of UPB. We accepted their offer and after we closed on the purchase, we started getting ready for the sale of the note. During that time, we collected a payment or two on the notes we were selling. We barely touched the workout funds at all, so we had very little expenses, which is why the profits were higher. Our biggest problem for our investor was what to do with the cash she just invested. Now she has to find another investment.

Want to know more about becoming a JV partner? Send us an email @ adam@ajarealtyinvestments.com