2 ms·

Interesting - how much did you actually pay for it, i.e. what's the markup? I would assume you didn't buy it for 60% loan balance. Also, 12%? Did you buy that

Interesting - how much did you actually pay for it, i.e. what's the markup? I would assume you didn't buy it for 60% loan balance. Also, 12%? Did you buy that with 100% cash/equity, or a combination of equity and debt?

cko 11y ago
I mean the purchase price was 60% of the loan balance (a 40% discount). I bought it with cash.
- charlesdm 11y ago
  That sounds like a good deal !
  - cko 11y ago
    Yeah it was a "rehabbed" note. It was previously non-performing and so it's probably subprime. If you're curious check out pprnoteco.com
    - charlesdm 11y ago
      If it was non-performing, how did you convince the buyer to start paying down the debt again?
      - cko 11y ago
        I didn't do the negotiations, I bought it from a fund that handled that - new terms, new rate, etc. I'm not that savvy myself :)