I am leaving for San Diego for our nieces wedding tomorrow (July 4th) with my wife of 34 years, Bonnie, and our two youngest children; Katie age 11, and Mike age 9. If you are located somewhere between Concord CA and Coronado Beach CA give me a call. I’ll be in San Diego July 4th and July 5th and then July 11th and 12th and Anaheim July 6th to July 10th.
This is a “mini-newsletter” if you consider 6463 words small that went out to our 230 referral partners and a few hundred clients and prospects this week:
This is the June 30th, 2009 summary of available packages for sale. All Sold packages are noted and will be removed next week.
Make an offer in the form or a “Letter of Interest” and a Non-circumvention agreement (we provide), also be prepared to provide Soft Proof of funds to the bank.
Make an offer regardless of the sales price or asking price!
Real Estate Owned by the Bank (REO)
Make an offer in the form or a “Letter of Intent” and a Non-circumvention and Non-Disclosure agreement (we provide the LOI template for you), also be prepared to provide Soft Proof of funds to the bank. See attached preferred LOI format.
Make an offer regardless of the sales price or asking price!
PERFORMING NOTES
Performing Note packages are available for purchase by submitting a “Letter of Interest” which must include at a minimum the name of the buyer and their attorneys that will handle proof of fund.
The Buyer and the Buyers representative must sign and return a NCND to Cash Flow Specialists, Inc.
A Note Buyer will need to offer a bid for each line item (loan). Please be advised that typically performing note which have been seasoned are sold for 85 to 90% of their face value.
PACKAGE # 5-4e AVAILABLE – 6/29/09
REO SFR Package
25 SFRs and couple of duplexes All in GA.
BPO to be determined in Escrow estimated value is 2.7 million
Sales Price = $1,334,270
PACKAGE # 5-4j – AVAILABLE – 6/25/09
REO unfinished Condos Package with 10K commercial leased 20+ years
Foreclosure Pending
70+ SFR all in downtown Los Angeles, CA
Units are 800 to 1500 square feet
BPO to be determined in escrow (make an offer)
Make offer Plus 3 % in fees
PACKAGE # 5-4k – AVAILABLE – 6/29/09
REO 28 SFR in GA, NC, VA,WV, MD,
BPO to be determined in escrow (make an offer)
Make offer Plus 3 % in fees
PACKAGE # 5-4m – SOLD – 6/25/09
REO 18 SFR in NV
BPO to be determined in escrow (make an offer)
BPO to be determined in Escrow
Make offer Plus 3 % in fees
PACKAGE # 5-4n1 – SOLD – 6/29/09
REO SFR – 22 SFR in CA, Los Angeles
BPO estimate $7,039,000
Asking Price: $4.426 million
Make offer Plus 3 % in fees
PACKAGE # 5-4o1 – SOLD – 6/24/09
REO SFR – 7 SFR in Los Angeles, CA
BPO to $982,205
Asking Price: $879,278
Make offer Plus 3 % in fees
PACKAGE # 5-4p – SOLD – 6/25/09
REO SFR – 10 SFR in Los Angeles, CA
BPO to $3.273 million
Asking Price: $1,816,499
Make offer Plus 3 % in fees
PACKAGE # 5-4r – AVAILABLE – 6/29/09
REO – 97 Florida SFR
BPO to be determined in Escrow
Seller will accept 60 cents of current BPO
Make offer Plus 3 % in fees
PACKAGE # 5-5 – STATUS –SOLD 6/29/09
Non Performing Note Package Multi-family & Commercial assets including:
States and quantities in those states: CT(6), NJ (12), NY(18), PA( 2)
Apartments, Multi-family plus small retail, and office
30 notes valued at $18.2mm – LTV average 75%
Priced at 81 cents on the dollar = $46,206,196
To review tape make an offer in the form of an Letter of Interest (LOI) and provide SPOF contact information in the LOI.
Make offer Plus 3 % BPO fees
PACKAGE # 5-6 – –AVAILABLE 6/29/09
Performing Hotel 1st Trust Deeds for sale both borrowers
1) 3.054 million note , rate 6.642, 10 year with balloon, LTV 63.00% Discounted to
$2,473,910 – Available
Available for 81 cents on the dollar.
To review tape:
Make an offer in LOI for and include contract POF information.
PACKAGE # 5-26 – STATUS –AVAILABLE 6/29/09
Performing Notes for sale Arkansas
Hospital Performing
Payers credit over 700 FICO
Remaining Balance $107,000
Make offer
PACKAGE # 5-27 – STATUS –AVAILABLE 6/29/09
Performing Notes for sale Washington DC – 83,411 Square Feet
south of Class B Washington DC Suburban Office Property – 83,411 SF
$7.8M Owners valuation – Property is 100% occupied
Bank is willing to take 20% off, we are direct to bank
ACTUAL TTM NOI of $744,530 (9.5% DY to Last Dollar)
PACKAGE # 5-28 – STATUS – AVAILABLE 6/29/09
REO SFR LAND package
233 SFR Lots located in various states FL, NC,SC,
Owner BPO =$6.1.million
Make offer Plus 3 % in fees
PACKAGE # 5-29 – STATUS – AVAILABLE 6/29/09
REO Commercial LAND package
18 Lots located in various states FL, NC,SC,
4 commercial, 3 office buildings, 3 Convenience stores
Owner BPO =$71.3.million
Make offer Plus 3 % in fees
PACKAGE # 5-30 – STATUS – SOLD 6/29/09
REO SFR Los Angeles, CA
99 Single Family homes
BPO = 20,788,073
Price = 11,433,440
3.0% fees included in the Price
zip codes:90001,90002,90003,90026, 90037, 90011,90016 90018,90022,90032,90042,90044,90047,90059,90060,90061,90063,90065
PACKAGE # 5-31 – STATUS – SOLD 6/25/09
REO SFR Orange County, CA
73 Single Family homes 3+ bedroom, 2+ Baths
BPO = 26,354,574
Prices = 15,285,652
zip codes: 92831,92832,92833,92835,92675, and 8 SFR total in 91723,91724,91722,91724
PACKAGE # 5-32 – STATUS – AVAILABLE 6/29/09
REO COMMERCIAL Orlando, FL
5K Sq.ft., 1+ AC Historic 2 Story
BPO = $4.9 million
Asking = $3.3 Million
PACKAGE # 5-33 – STATUS – AVAILABLE 6/29/09
REO COMMERCIAL SpartanBerg, SC
30K Sq,ft. Hotel
BPO = $20 million
Asking = 18.00 Million
PACKAGE # 5-34 – STATUS – AVAILABLE 6/29/09
REO COMMERCIAL Columbia, SC
7+K Sq.ft. Restaurant
BPO = $1.7 million
Asking = $1.15 Million
Fees included
PACKAGE # 5-35 – STATUS – AVAILABLE 6/29/09
REO COMMERCIAL Tampa, FL
16K Sq.ft., Office Building
BPO = $1.0 million
Asking = $690K
Fees included
PACKAGE # 5-37 – STATUS – available 6/29/09
REO COMMERCIAL , NC
2,8K Sq.FT. Convenience store
BPO= $525K
Asking = $ 357K
Fees included
PACKAGE # 5-38 – STATUS – available 6/29/09
REO COMMERCIAL, GA, 4.3K Sq.ft. commercial building
BPO= $370K
Asking = $ 251K
Fees Included
PACKAGE # 5-39 – STATUS – available 6/29/09
REO COMMERCIAL, SC, 2.3K Sq.ft. convenience store
BPO= $350K
Asking = $ 231K
Fees Included
PACKAGE # 5-40 – STATUS – available 6/29/09
REO COMMERCIAL , NC, .8 AC. Convenience store
BPO= $370K
Asking = $ 251K
Fees Included
PACKAGE # 5-41 – STATUS – available 6/29/09
REO COMMERCIAL , FL, 4.3K Sq.ft. Office building
BPO = $380K
Asking $258K
Fees Included
PACKAGE # 5-42 – STATUS – updated 6/29/09
REO COMMERCIAL , NC, 2.8K Sq.ft. Convenience store
BPO= $274K
Asking $191K
Fees Included
PACKAGE # 5-43 – STATUS – available 6/29/09
REO COMMERCIAL , SC, 5K Sq. Ft. Restaurant
BPO = 350K
Asking = $228K
Fees Included
PACKAGE # 5-44 – STATUS – available 6/29/09
REO COMMERCIAL , NC, 1.2K Sq. Ft. Office
BPO = $220K
Asking =$149K
Fees Included
PACKAGE # 5-47 – STATUS – available 6/29/09
REO 48 SFR – New York properties in – Bronx (6), Brooklyn (11), Far Rockaway (6), Floral Park (1), Jamaica (5). FARMINGDALE (1), FREEPORT (3), SAINT ALBANS (1), Cambria Heights (1), East Elmhurst (1), Pleasant Valley (2), POUGHKEEPIE (8), South Ozone Park (3),
BPO estimate: $14.5 million
Price: Make an offer and include 3% BPO fees
PACKAGE # 5-48 – STATUS – SOLD 6/29/09
REO 12 projects in New York State some unfinished, total of 301 Apartments, 1 Commercial Condo
Cities: NYNY (3), Brooklyn (5), Flushing (2), Yonkers (1), Jersey City (1)
BPO estimate: $70.9 million
Available for sale on a line item basis!!
Price: Make an offer and include 3% BPO fees
PACKAGE # 5-49 – STATUS – SOLD 6/29/09
Non Performing (35) Notes
Colorado and Arizona – Commercial (3), Retail (3), Lots (8), SFR (13),Multi-Family(3), Retail (3), Office (4), Estate (1)
LTV % average 75%
Loan Value total is $57.6 million
Price: Make an offer and include 3% BPO fees
PACKAGE # 5-50 – STATUS – available 6/29/09
14 Waterfront Condos and boat lifts. The project is 85%, FL
BPO finished in 2008 = $7.5 million
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% BPO fees
PACKAGE # 6-1 – STATUS – available 6/29/09
Non Performing Notes
14 office and retail New Units. 20,000+ sq.ft., FL
BPO fto be determined in Escrow
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% BPO fees
PACKAGE # 6-2 – STATUS – available 6/29/09
Non Performing Notes
9 Condos 1,600+ Sq.Ft., FL
BPO to be determined in Escrow
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% BPO fees
PACKAGE # 6-3 – STATUS – nonexclusive 6/29/09
Non Performing Notes
150+ room Hotel , FL
Recently Remodeled
BPO to be determined in Escrow
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% BPO fees
PACKAGE # 6-4 – STATUS – available 6/29/09
Non Performing Notes
3 Condos 2,000+ Sq.Ft., FL
Recently Remodeled
BPO estimated $340,000
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% BPO fees
PACKAGE # 6-5 – STATUS – Updated 6/29/09
Non Performing Notes
75+ unit Apartment building FL
BPO estimated $7,550,000
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% BPO fees
PACKAGE # 6-6 – STATUS – available 6/29/09
Non Performing Notes
1 Condo 4 bed ,3.5 baths(5,100+ Sq.Ft). FL
BPO estimated $1,250,000
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% BPO fees
PACKAGE # 6-7 – STATUS – available 6/29/09
Non Performing Notes
2 Commercial building(16,100+ Sq.Ft). FL
BPO estimated $1,350,000
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% BPO fees
PACKAGE # 6-8 – STATUS – available 6/29/09
Non Performing Notes
13 Condos (1,100+ Sq.Ft). FL
BPO estimated $1,490,000
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% BPO fees
PACKAGE # 6-9 – STATUS – nonexclusive 6/29/09
Non Performing Notes
11 Unit Strip Center (12,000+ Sq.Ft). FL
BPO estimated $1,890,000
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% BPO fees
PACKAGE # 6-10 – STATUS – nonexclusive 6/29/09
Non Performing Notes
1 Warehouse Flex Space(14,000+ Sq.Ft). FL
BPO estimated $968,153.00
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% BPO fees
PACKAGE # 6-11 – STATUS – available 6/29/09
Non Performing Notes
1 Warehouse Flex Space(14,000+ Sq.Ft). FL
BPO estimated $968,153.00
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% BPO fees
PACKAGE # 6-12 – STATUS – available 6/29/09
Non Performing Notes
1 Medical office building 4,000 Sq.Ft.. FL
BPO to be determined
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% BPO fees
PACKAGE # 6-13 – STATUS – available 6/29/09
Non Performing Notes
2 Building office complex (3,340+ Sq.Ft). FL
BPO estimated $524,900
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% BPO fees
PACKAGE # 6-14 – STATUS – available 6/29/09
Non Performing Notes
5 Condos 2/2 (950 Sq.Ft.) FL
BPO estimated $400,900
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% BPO fees
PACKAGE # 6-15 – STATUS – available 6/29/09
Non Performing Notes
20 units in 3 building FL
BPO to be determined
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% BPO fees
PACKAGE # 6-16 – STATUS – nonexclusive 6/29/09
Non Performing Notes
1 Office condo 2,500+ Sq.Ft. FL
BPO to be determined
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% BPO fees
PACKAGE # 6-17 – STATUS – available 6/29/09
Non Performing Notes
1 SFR (2300+ Sq.Ft.) FL
BPO estimated $575,000
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% BPO fees
PACKAGE # 6-18 – STATUS – available 6/29/09
Non Performing Notes
1 Office condo 2,500+ Sq.Ft. FL
BPO to be determined
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% BPO fees
PACKAGE # 6-19 – STATUS – available 6/29/09
Non Performing Notes
1 Townhome (1200+ Sq.Ft.) FL
BPO estimated $375,000
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% BPO fees
PACKAGE # 6-20 – STATUS – available 6/29/09
Non Performing Notes
1 Townhome (2500+ Sq.Ft.) FL
BPO to be determined in escrow
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% BPO fees
PACKAGE # 6-21 – STATUS – available 6/29/09
Non Performing Notes
1 SFR (2200+ Sq.Ft.) FL
BPO = 290K
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% BPO fees
PACKAGE # 6-22 – STATUS – available 6/29/09
Non Performing Notes
1 SFR (2400+ Sq.Ft.) FL
BPO = 200K
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% BPO fees
PACKAGE # 6-23 – STATUS – available 6/29/09
Non Performing Notes
1 Commercial Building (1600+ Sq.Ft.) FL
BPO = 270K
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer and include 3% BPO fees
PACKAGE # 6-24 – STATUS – SOLD 6/29/09
Non Performing Commercial Notes
Pool value at 146 Million
24 notes,
States: NYNY, Bronx, Staten Island, Brooklyn, Ashbury Park, Jersey City, Ft Salonga, NY
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer include 3% BPO fees
PACKAGE # 6-25 – STATUS – available 6/29/09
Non Performing Notes
44 Townhomes with 2 car Garage (1800+ Sq.Ft.) CA
Loan Balance 14.1MM
Status: 95% Complete
Exclusive Bank Sale – Must submit LOI with SPOF contact information
Price: Make an offer .68 cents on the BPO and include 3% BPO fees
PACKAGE # 6-27 – STATUS – Available 6/29/09
REO SFR 16+ state, Heavy in OH,MI, and PA
1096 Single Family homes
BPO = 70mm This is a owner estimate
Price = 12.6 mm
Make an offer include 3.0% BPO fees
PACKAGE # 6-28 – STATUS – Available 6/29/09
REO state, Heavy in NV Las Vegas, Henderson, Reno, North Las Vegas
14 Single Family homes
BPO = 3.8mm This is a owner estimate
Price = 1.1 mm
Make an offer include 3.0% BPO fees
PACKAGE # 6-29 – STATUS – SOLD 6/25/09
REO state, Heavy in AZ Maricopa,
87 Single Family homes
BPO = 11.1 mm This is a owner estimate
Price = 5.5 mm
Make an offer include 3.0% BPO fees
PACKAGE # 6-31 – STATUS – SOLD 6/29/09
REO state, Heavy in CA Southern California,
172 Single Family homes
BPO = 42.8 mm This is a owner estimate
Price = 26.28 mm
Make an offer include 3.0% BPO fees
PACKAGE # 6-32 – STATUS – PENDING 6/29/09
REO state, Heavy in Orange County, Southern California,
61 Single Family homes
BPO = $23.8 mm This is a owner estimate
Price = $16.41 mm
Make an offer include 3.0% BPO fees
PACKAGE # 6-35 – STATUS – Available 6/29/09
Performing Note Medical Center Pool,
1 notes secured by (1) Medical Center, State AZ
Loan Balance = $19.0 mm
Appraised Property collateral Price = $26.2 mm
Make an offer include 3.0% fees
PACKAGE # 6-37 – STATUS – Available 6/29/09
Performing Note Commercial Pool- Ohio
1 notes secured by (2) apartment complexes (245+ units)
Loan Balance = $9.26 mm
Appraised Property collateral Price = $14.56 mm
Make an offer 82% plus 3.0% fees
PACKAGE # 6-38 – STATUS – PENDING – 6/29/09
Non- Performing Multi-family Notes for Sale
A Buyer will need to offer a bid for each line item (loan). Please be advised that typically performing note which have been seasoned are sold for 55 to 70% of their face value.
1) 21 Units, Location CT
2) 24 Units, Location CT
3) 60 Units, Location CT
4) 84 Units, Location CT
5) Mixed use, Location NJ
6) 72 Units, Location NJ
7) Mixed use 18 Units, Location NJ
8) 7 Units, Location NJ
9) 25 Units, Location NJ
10) 13 Units, Location NJ
11) 5 Units, Location NJ
12) 7 Units, Location NJ
13) 5 Units, Location NY
14) 28 Units, Location NY
15) 16 Units, Location NY
16) 11 Units, Location NY
17) 10 Units, Location NY
18) 6 Units, Location NY
19) Mixed use 2 commercial and 6 Units, Location NY
20) 10 Units, Location NY
21) 7 Units, Location NY
22) 9 units , Location NY
PACKAGE # 6-41 – STATUS – Available 6/29/09
Non-Performing (Foreclosure) in progress, US Territory
Hotel (Flagged) (425+) Rooms with conference center
Non performing Debt Facility Via Bank
Financing is available with 11 million down good terms available
08 Storm damaged to be repaired 5 million required
BPO = $61.7 million
Price= $26.5 million
Make an offer 43% of BPO includes all fees
PACKAGE # 6-42 – STATUS – Available 6/29/09
REO HOTEL 155+ rooms (Flagged) State: FL Near Disneyworld
Remodeled in 2008
BPO = 7.5 mm
Price = 5.9mm Fees included in sales price
PACKAGE # 6-43 – STATUS – Available 6/29/09
Non-Performing Note SFR Pool,
12 notes, State CA, FL, GA, WI
Loan Balance = $2.4 mm
Sales Price = $1.16 mm
Make an offer fees included in sales price
PACKAGE # 6-44 – STATUS – Available 6/29/09
Performing Note SFR Pool,
120 notes secured by (120 SFR), State TX
Loan Balance = $2.7 mm
Appraised Property collateral Price = $1.86 mm
Make an offer include 3.0% fees
PACKAGE # 6-45 – STATUS – Available 6/29/09
Performing Note Pool,
2 notes secured by Long Beach CA. 4-plex and duplex
Loan Balance = $600K
Sale Price = $480K
Make an offer include 3.0% fees
PACKAGE # 6-46 – STATUS – Available 6/29/09
Performing Note Pool,
1 note secured 1st deed Hotel Kingsland GA
Loan Balance = $3.1mm
Due in 2017
Make an offer include 3.0% fees
PACKAGE # 6-47 – STATUS – Available 6/29/09
REO Land,
101 Parcels, FL, SC, NC
134 Residential Lots
338+ Acres
Appraised = 18.2mm
BPO = $6.1mm
Sales Price = 2.62mm
Make an offer include 3.0% fees
PACKAGE # 6-48 – STATUS – Available 6/29/09
REO state, GA, IL, IN, AZ, AR, FL, MO, MS, NJ,NY,OK,PA
212 SFR
BPO = To be determined in Escrow
Price = $ 4.12mm
Make offer and add 3.0% fees in price
PACKAGE # 6-49 – STATUS – Available 6/29/09
REO state, MI and OH
406 SFR
BPO = $ To be determined in Escrow
Price = $ 2.1mm
Make offer and add 3.0% fees in price
PACKAGE # 6-50 – STATUS – SOLD 6/25/09
REO state, CA
1400 SFR
BPO = $ To be determined in Escrow
Price = $ 220.1mm
Make offer and add 3.0% fees in price
PACKAGE # 6-51 – STATUS – Available 6/29/09
REO state, CA
35 SFR
BPO = $ 4.5
Price = $ 2.8mm
3.0% BPO fees in price
PACKAGE # 6-52 – STATUS – Available 6/25/09
REO state, FL
22 Office buildings, motels, warehouse, retail other
BPO = $ 39.0mm
Price = $ 13.2mm
Make offer add 3.0% BPO fees in price
PACKAGE # 6-54 – STATUS – AMENDED 6/26/09
REO state, Nation Wide
700 SFR
BPO = $ TBD
Price = $ 8.2
all commissions included
PACKAGE # 6-55 – STATUS – Available 6/29/09
REO state,
22 Office buildings, motels, warehouse, retail other
BPO = $ 39.0mm
Price = $ 13.2mm
Make offer add 3.0% BPO fees in price
PACKAGE # 6-56 – STATUS – Available 6/29/09
REO state, New York – Brooklyn
9 Apartment buildings 425+ units
BPO = $ 180.0mm
Price = $ 95.3mm
Make offer add 3.0% fees in price
PACKAGE # 6-57 – STATUS – Available 6/29/09
Non-Performing Notes (SFR)
165 Nation Wide SFR
BPO = $ 13.12 mm
Price = $ 5.65 mm
BPO Commissions fees in price
PACKAGE # 6-58 – STATUS – Available 6/29/09
Non-Performing Notes (SFR)
165 Nation Wide SFR
BPO = $ 13.12 mm
Price = $ 5.65 mm
BPO Commissions fees in price
PACKAGE # 6-60 – STATUS –Available 6/29/09
LAND
Cities: NV (1), Lake Las Vegas, 30 Acres
BPO estimate: $14.8mm
Price: Make an offer and include 3% BPO fees
PACKAGE # 6-61 – STATUS –Available 6/29/09
LAND
Cities: NV (1), 90+ Sub-division lots
BPO estimate: $3.3mm
Price: Make an offer and include 3% BPO fees
PACKAGE # 6-62 – STATUS –Available 6/29/09
LAND – Retail Pads
Cities: TX (1), Houston
BPO estimate: $12.9mm
Price: Make an offer and include 3% BPO fees
PACKAGE # 6-63 – STATUS –Available 6/29/09
LAND – Retail Pads
Cities: TX (1), Stafford
BPO estimate: $4.1mm
Price: Make an offer and include 3% BPO fees
PACKAGE # 6-64 – STATUS –Available 6/29/09
LAND – SFR Land for 70 Pads 310 acres
Cities: CA (1), Corona
BPO estimate: $12.6mm
Price: Make an offer and include 3% BPO fees
PACKAGE # 6-65 – STATUS –Available 6/29/09
SFR – Kukio
Cities: HI (1), Kona
BPO estimate: $5.9mm
Price: Make an offer and include 3% BPO fees
PACKAGE # 6-66 – STATUS –Available 6/29/09
SFR – 5200 Sq. FT. 5b/5.5b/6.5ac
Cities: CA (1), Saratoga
BPO estimate: $2.4mm
Price: Make an offer and include 3% BPO fees
PACKAGE # 6-67 – STATUS –Available 6/29/09
SFR – Penthouse Lofts (5) 85% finished 5k sq.ft. each
Cities: NV (1), Lake Las Vegas
BPO estimate: $6.9 mm
Price: Make an offer and include 3% BPO fees
PACKAGE # 6-68 – STATUS –Available 6/29/09
SFR – Office 30k sq.ft. include retails
Cities: CA (1), San Jose
BPO estimate: $8.9 mm
Loan: $5.0MM
Price: Make an offer and include 3% BPO fees
PACKAGE # 6-69 – STATUS –Available 6/29/09
SFR – Office 30k sq.ft. include retail
Cities: CA (1), San Jose
BPO estimate: $8.9 mm
Loan: $5.0MM
Price: Make an offer and include 3% BPO fees
PACKAGE # 6-70 – STATUS –Available 6/29/09
SFR – Constr. Condos 15K sq.ft. include 6 units
Cities: CA (1), Oakland
BPO estimate: $3.7 mm
Loan: $2.7MM
Price: Make an offer and include 3% BPO fees
PACKAGE # 6-71 – STATUS –Available 6/29/09
Commercial – Multi-tenant retail & Office 2 bldg. 12.5K sq.ft.
Cities: CA (1), San Jose
BPO estimate: $6.1 mm
Loan: $4.0MM
Price: Make an offer and include 3% BPO fees
PACKAGE # 6-72 – STATUS –Available 6/29/09
Commercial – Multi-tenant retail 3 bldg. 34.7K sq.ft.
Cities: CA (1), Sacramento
BPO estimate: $8.8 mm
Loan: $6.48MM
Price: Make an offer and include 3% BPO fees
PACKAGE # 6-73 – STATUS –Available 6/29/09
Com. Constr 100% – Retail 11 unit bldg. 12.7K sq.ft.
Cities: CA (1), Sacramento
BPO estimate: $4.2 mm
Loan: $2.18MM
Price: Make an offer and include 3% BPO fees
PACKAGE # 6-74 – STATUS –Available 6/29/09
SFR Constr 38% – complete 4.4K sq.ft.
Cities: CA (1), Bel Air
BPO estimate: $2.6 mm
Loan: 1.04MM
Price: Make an offer and include 3% BPO fees
PACKAGE # 6-75 – STATUS –Available 6/29/09
SFR Constr 31% – complete 3.8K sq.ft.
Cities: CA (1), Bel Air
BPO estimate: $2.7 mm
Loan: .9MM
Price: Make an offer and include 3% BPO fees
PACKAGE # 6-76 – STATUS –Available 6/29/09
Com. Constr – Retail 29 unit 3 bldg. 34.2K sq.ft.
Cities: CA (1), Santa Rosa
BPO estimate: $8.2 mm
Loan: 4.9MM
Price: Make an offer and include 3% BPO fees
PACKAGE # 6-77 – STATUS –Available 6/29/09
LAND – 57 acres zoned RC for 17 acres development.
Cities: CA (1), Riverside
BPO estimate: $13.6 mm
Loan: 10.9MM
Price: Make an offer and include 3% BPO fees
PACKAGE # 6-78 – STATUS –Available 6/29/09
Com. Constr – 36 acres Zoned (M-2) 33 Industrial 3 Retail lots
Cities: NV (1), North Las Vegas
BPO estimate: $25.4 mm
Loan: 15.98MM
Price: Make an offer and include 3% BPO fees
PACKAGE # 6-79 – STATUS –Available 6/29/09
Com. Constr – 1.02 acres Zoned (A(PD)) 15 units (TH)
Cities: CA (1), San Jose
BPO estimate: $3.3 mm
Loan: 2.73MM
Price: Make an offer and include 3% BPO fees
PACKAGE # 6-80 – STATUS –Available 6/29/09
Com. Constr – Retail 2.76 acres 2 bldg. 30.0K sq.ft.
Cities: CA (1), Tracy
BPO estimate: $15.5 mm
Loan: 7.34MM
Price: Make an offer and include 3% BPO fees
PACKAGE # 6-81 – STATUS –Available 6/29/09
Com. Constr (14%) – 2.2 acres Zoned (RS) + 8 SFR included
Cities: CA (1), Hayward
BPO estimate: $3.57 mm
Loan: 3.0MM
Price: Make an offer and include 3% BPO fees
PACKAGE # 6-82 – STATUS –Available 6/29/09
Com. Constr – 2 bldg. 63.0K sq.ft. + 20K sq.ft. retail
Cities: CA (1), Morgan Hill
BPO estimate: $ 1.3 mm
Loan: .7 MM
Price: Make an offer and include 3% BPO fees
PACKAGE # 6-83 – STATUS –Available 6/29/09
SFR Constr – 10 Units 3b/2.5b 1,800+ sq.ft.
Cities: CA (1), Los Angeles
BPO estimate: $ 6.2 mm
Loan: 4.43 MM
Price: Make an offer and include 3% BPO fees
PACKAGE # 6-84 – STATUS –Available 6/29/09
SFR. Constr – 2 bldg. 350 units 730.0K sq.ft. condos retail
Cities: FL (1), Miami
BPO estimate: $ TBD mm
Loan: TBD MM
Price: Exclusive Bank Sale – Must submit LOI with SPOF 250 mm contact information
Price: Make an offer include 3% BPO fees
I spoke with Alex, Chairman of LP Source E in detail Tuesday morning, June 30th at 7:30AM. Alex mentioned that the VP of Business Development, Brenda, sister died and that she had departed this morning for Texas. They expect to fund one or two of four projects next week: the projects range in size from $10 million to $454 million.
They are setting up the trust distribution and will be inviting each approved project to meet them next week.
I know that some are reluctant to pay fees but I am not about to work eight to 15 months incurring hundreds of thousands of dollars in expenses and have people bail without a minimum of expenses covered. With the global financial meltdown it’s taking considerably longer to fund projects. There are a multitude of hoops to pass through. Our fee is 1% of the amount applied for $25,000 maximum PER PROJECT, $100,000 maximum per client. This affords six months of coaching, mentoring, hamd-holding and access 50 hours a week to me personally.
Some opt to travel to Concord CA and invest a half day at $5,000: some a whole 10-hour day for $10,000. Use my 32+ years experience in financial services to your advantage. We have seven Large Project Funding sources. We have five Business Lines of Credit funding sources. We have hundreds of banks, hedge funds, private investors, asset based lenders, factors, hard money lenders, merchant cash advance companies and other alternative funding sources.
You’ll never know until you send an executive summary of one to four pages, and buy a minimum of one hours time at $1,000 an hour. You can make a direct deposit to our corporate Bank of America account or do what Sal did last week: he sent a $1,000 cashiers check from New York City.
This is an upcoming post that I prepared this morning as a future post on the www.joetufo.com subscription blog This educational resource should be used by you to learn how to fund projects.
And Joe Tufo
Collateral for Credit Facilities $5 million minimum
by Joe Tufo[edit]
I’ve known Dane for a few years. he is one of five proof of funds providers that we do business with. This is an email that he sent me yesterday.
Do you have a transaction for which you require collateral?
We’ve just unveiled a new product to the marketplace which does not put the client’s initial funds at risk. No funds are released from escrow until after an acceptable instrument has been received by the client’s lending institution from an acceptable issuing bank.
These instruments may be used as the primary and/or only source of collateral for a credit facility. Do you have a transaction for which you are trying to obtain funding through your lender and need a source of collateral that’s safe and reliable?
The issuance fees are not put at risk, they are simply put into any mutually acceptable third party escrow account where they will stay until acceptable collateral is delivered as agreed; We may even be able to allow an acceptable bank pay order for the payment of fees contingent upon delivery of acceptable collateral.
Our bank communicates with your bank prior to deployment and execution of agreements. We are not leasing or joint venturing to provide assets, we are issuing our clients’ lender an irrevocable guarantee of principal and interest paid at maturity.
The bank instruments can be used for any legitimate, legal financial transaction where a client has the ability to get a loan with his lender with acceptable collateral. Read below for additional details.
1. Client must have their bank financing arranged conditionally upon the presentation of acceptable collateral from an acceptable bank.
2. Client must provide a conditional commitment letter from their bank addressed to the client (sample format attached)
3. Client must have 1.75% of the required instrument.
1. Client applies to POF
a. Client provides POF letter of intent
b. Client provides POF a completed application and supporting documents
2. POF issues documents to the client
a. Term sheet
b. Letter of Intent
c. Engagement fee request letter
d. Sample conditional commitment letter
3. Client sends $10,000.00 non-refundable engagement fee to POF.
4. Client sends POF the conditional commitment letter provided by the bank.
5. Client moves their 1.75% of the required instrument size to an acceptable escrow attorney. Escrowed monies are not released from escrow until after the instrument is delivered.
6. POF’s bank contacts the clients bank at the coordinates provided in the conditional commitment letter.
a. Banks discuss and come to terms on acceptable instrument text.
b. Banks discuss and come to terms on acceptable instrument transmission (delivery).
7. POF orders its bank to initiate and finalize the transaction between the banks.
8. POF’s bank delivers the instrument of principal and interest to the clients bank.
9. Client’s receiving bank receives the previously agreed upon bank debt instrument upon acknowledging its acceptance confirms this with its client and escrow attorney.
10. Client’s 1.75% is released from escrow to POF.
11. 15 Days from the date of the banks acceptance and acknowledgment of the bank debt instrument, the client releases 6.75% to POF.
12. Client’s bank funds the loan
13. Client bank deposits the proceeds of the loan into the bank who issued the bank debt instrument or to mutually consented coordinates from which monetary draws will be made by the client in conformity with his transactional requirements.
14. On the 91st day the client begins making principal and interest payments at LIBOR (+ floating rate*) to POF or to its order until the loan has been paid as agreed.
15. Client’s bank perfects payment on the bank instrument at its maturity date (12 months from its date of issue).
Footnote:
*Floating Rate would be determined in review of the transaction after we’ve received the bank letter and our bank has communicated with the clients bank.
1. HSBC in London
2. HSBC in New York
3. JP Morgan Chase in New York
4. Wells Fargo Bank in California
Pricing is a moderate total of 8.5% for the use of the instrument and on month three the client begins making principal and interest payments at Libor + a floating rate (*Floating Rate would be determined in review of the transaction after we’ve received the bank letter and our bank has communicated with the clients bank.) There are several benefits to the structure we are not offering.
1. Once the clients bank provides the client the conditional commitment letter our bank opens up a line of communication to agree upon instrument type, text and delivery protocols.
2. Transactions can be as small as $5 million United States Dollars.
3. You can spend your time with clients that have real closeable transactions, clients do not lose money and we do not lose time spent on clients with no transactions.
4. Other than the engagement fees which covers expenses of the attorney documentation, initial due diligence, etc., No moneys are released from escrow until the clients bank receives the acceptable collateral from a bank acceptable to them.
5. There is bank to bank communication by phone, fax and/or Swift prior to entering into a final contract with POFLLC to make sure POF and the client are not wasting any time or energy.
6. The client makes no payments to his lender whatsoever.
7. The instrument can be the primary and/or only collateral used to support the clients credit facility.
8. The client can get a loan from many different types of creditors to include but not limited to the following.
a. Banks
1. Private Banks
2. Commercial Banks
3. Retail Banks
4. Investment Banks
5. Central Banks
b. Credit Unions
c. Saving & Loan Banks
d. Angel Investors
e. Equity Investors
f. Brokerage Firms
g. Hedge Funds
h. Investment Funds
i. Pension Funds
j. Venture Capital Firms
k. Private equity firms
Submit an application today along with documentary evidence of your ability to pay the 1.75% upon receipt of an acceptable instrument.
Regards,
Dane
Sample Commitment Letter
[CLIENT’S BANK LETTERHEAD]
[Client’s name]
[Client’s firm]
[address, telephone, fax, email]
Date: dddddddd
Dear [Client name]:
Having reviewed and evaluated [the property or transaction], subject to receiving a Guarantee supplied by a first class Bank acceptable to us for the purpose of the repayment of principal and interest, we shall extend to [Client’s firm] a one year loan in the sum of $ [000,000,000] for its ventures.
It is understood that we shall receive and that we shall accept a confirmation only from a first class Bank, for the irrevocable transfer of the Guarantee, guaranteeing the repayment at maturity of the loan principal plus the agreed upon interest rate of ___%, with a Certified Copy of the actual Guarantee, and that the original will be lodged and assigned on the Custodial Safekeeping Receipt, from a deposit account with the agreed top bank, to us.
The face value of the Guarantee must represent principal plus interest of the loan advanced and must be payable, at maturity, in one year and one day from its date of issue.
Funds will be disbursed by our bank to the bank supplying the Guarantee (or to mutually consented coordinates) upon our authentication and identification of the guarantee offered to us.
Unless a Bank-to-Bank communication is received by us from the Bank that will supply the guarantee, this commitment will terminate on [MM/DD/YY] at the end of the business day in New York, USA.
For verification of this communication and confirmation of our willingness to proceed with this loan offer, please request that the Bank that will supply the Guarantee make contact with:
Bank officer :
Phone No. :
Fax No. :
SWIFT ID :
Sincerely,
[TITLE OF BANK OFFICER] [TITLE OF BANK OFFICER]
[SEAL]
Joe Tufo June 26, 2009 at 9:33 am [edit]
-
If you need collateral to secure funding for a large project this is the tool for you to use.
The largest POF that we have funded to date was $500 million in December 2008. We have
several sources.
Previous post: Looking for a Private Investor? Jack typically invests $1 million to $10 million in each principal transaction.
This is a Referral Partner Welcome Letter that we send out. It has hyperlinks for several of our sites:
Referral Partner Welcome
Hi,
My name is Joe Tufo. I’m president of Cash Flow Specialists, Inc. of Concord CA. We are located 30 miles due east of downtown San Francisco.
I started this company July 1, 1999 after selling my insurance agency that I owned for 22 years. We were initially incorporated as a C-Corp in NV. I re-incorporated in CA February 2009 as a Subchapter S Corp.
I am not perfect. Here is proof of a personal screw-up in my own life:
http://joetufo.com/blog/medco-explanation
I do the very best that I can to serve you and the clients that you refer. I work 7AM to 5PM Pacific M-F. The toll-free number to our office is 1-800-669-2700. The direct dial number to my desk is 925-691-8200. When I am not in the office calls forward to my cell phone.
You can email me at either help@joetufo.com or joe@joetufo.com I receive hundreds of emails a day and do my best to answer each. if you do not receive a written reply kindly call me and I’ll find the email and respond. Thank you.
I return all morning calls and emails from 11AM to 12 noon and all afternoon calls and emails from 4PM to 5PM.
If you would like to purchase consulting time for you and/or your client visit www.joetufo.com/consulting If you need coaching visit www.joetufo.com/coaching or www.successbehaviors.com
We have a popular website at www.joetufo.com/blog If you want to learn about most of our products and services you should subscribe to the blog. New content is added several times a month. It’s a great place to refer prospective clients to inculcate them to our way of doing business. We are adding video to explain each post and page.
I encourage you to enroll at www.joetufo.com/subscribe to learn about our products and services. Listen to the video on the site.
To view videos on our products and services visit www.joetufo.com/youtube
We are adding a second site for referral partners only. This will also be a subscription site. Soon you will be able to earn commissions through Click Bank for selling our books, templates, and courses. It can be a tool to supplement your income.
www.joetufo.com/roadmap will give an overview of our products and services. There are hyperlinks to other sites complete with video. We tweak the map by adding products and services so you’ll want to check back often. It’s a good starting point to refer clients.
www.joetufo.com/powerfunding is a great tool for borrowers to become pre-qualified. Glenn & Mary just got $100,000 approved on a credit line and $150,000 on a grant using that program.
We have many other websites some of which are featured on the www.joetufo.com/blog
I’ve attached the referral partner paperwork. Kindly complete and email back.
For REO’s go to the www.joetufo.com/blog site I list all inventory. Get a LOI on the principle’s letterhead and an absolute proof of funds not more than three business days old.
For green projects read everything on the blog site especially references to large projects check www.projectfundingoptions.com and the www.joetufo.com/roadmap site andwww.greenprojectsfunding.com
For credit lines other than BLOC E visit www.joetufo.com/blog We have a new site that we are populating at www.workingcapitalfast.com We have access to merchant cash advance, asset based lenders, hard money, factoring and more alternative sources that fund in 30 days or less.
Dale and I wrote a book on FOREX visit www.thebasicsofforex.com
95% of our business comes from referral and the balance comes from my public speaking engagements.
As always I am here to serve you and those whom you choose to refer to us.
May God bless you exceedingly, abundantly above whatever you may think or ask.
Yesterday I received a cashier’s check from the owner of a limousine company in NYC who needs $1 million to expand his business. Visit www.joetufo.com/consulting to purchase blocks of consulting time.
I’m hired periodically to help companies launch or expand. Yesterday, a former BLOC funding source contacted me to help them expand other business operations across the USA. I’ve referred a friend who will run Northern CA operations as VP of Marketing.
If you have a project that requires my expertise in running financial services companies we can discuss my availability to serve. I’m usually retained for 10 to 20 hours a month. Rates are posted atwww.joetufo.com/consulting
One of the six major project funding sources, LP Source E, recently began funding four or our clients more than $876 million. For your edification we charge a modest 1% fully earned, non-refundable business consultation fee to offset our business expenses. We are not in the Fee Business and we are not in the Work for Free Business.
I have found that the clients who pay the fee are committed and the ones that won’t feel that if one is good 10 is better. They frequently “shotgun” their submission and pit one funding source against another wasting precious time. Historically 3% of transactions using this approach fund and close. I am not going to waste my time 97%.
We credit the expense fee against commissions earned. What do you think I’m interested in? The average funding is $219 million. We normally earn 1.5% gross before paying referral commissions. Our normal commission is 1.5% which translates to $3.29 million per transaction. These large projects take eight to 15 months to fund with LP Source E in my experience.
You have three options when you work with me:
1. Subscribe to www.joetufo.com/blog I publish how we get projects funded. The cost is presently $4.95 for the first two weeks, and $97 a month thereafter
2. Sign up for consulting time at www.joetufo.com/consulting The cost is currently $1,000 an hour.
3. Belly up to the bar and pay the 1% which provides six months of consultation and mentoring services for each project that you submit.
We have four active sources for business lines of credit. More often than not credit scores play an important role in funding success. My best advice is for you to target a minimum 730 FICO score. It will make a huge difference in your approval rate, funding cost, terms, conditions, and the amount funded.
If you don’t have a minimum 730 score with all three credit bureaus you should go to www.themackfinancialgroup.com/tufo and invest the money to clean up your personal and business credit. Your personal goal should be to have an 800 FICO score.
You should also consider investing the current $1,750 for the www.joetufo.com/powerfunding process. A Florida CPA received $100,000 in credit lines and $150,000 in grant money last month. What about you?
We have direct access to one of only 10 nationwide brokers with direct access and appointment by the FDIC to liquidate commercial and residential REO’s. We have 99 packages available. If you have an interested client we will need a LOI on their letterhead and absolute proof of funds not more than three days old.
Our niece, Tanya Palermo, is marrying her college sweetheart, Oscar Maria July 5th in Coronado CA. Bonnie and our two youngest children Katie, age 11, and Mike, age 9, flew in from Milwaukee Tuesday evening June 23rd. They will return to WI August 25th.
Bonnie and I were married for more than 34 years. I have asked her to re-marry me. She divorced me November 2, 2007. She has been the great love of my life for more than 40 years.
If you live in Southern CA and want to meet with me kindly call me at 925-352-6000 which is my cell phone. You will need to come to me. Thank you.
We have several sources for Accounts Receivable Lines of Credit. I received a call this morning from a banker here in the SF Bay Area whom I’ve known for a few years. His rates are the lowest that I have seen. I’ve written several articles that will be posted at www.joetufo.com/blog that will be appearing in the next two weeks.
INDUSTRIES WE SERVE
- Manufacturers
- Staffing
- Transportation
- Technology
- Service Providers
- Distributors
- Wholesalers
If we can be of service to you in any way kindly call M-F 7AM to 5PM Pacific.