We manage our purchases and investors on a case by case basis. In some instances a sole investor buys a pool and wants to maintain control of it without our assistance, and we are fine with that. However, we are prepared to service the investments in their entirety and although we don’t guarantee our projections, we do believe we can make them happen.
Non-Performing Pools
We analyze the assets thoroughly because that is essentially what we are buying. The plan is typically to foreclose immediately and place the assets on the market for sale. We price the assets competitively slightly below market price to achieve a quick sale. We proforma the investments on a 4 year disposition schedule, but we do expect a much quicker turnover.
Performing Pools
Performing pools are most enticing when we have a loan pool with a quick maturity date on most of the loans. We tend to focus on pools with a weighted average maturity date of not more than 36 months. If we don’t have our heart set on owning real estate, this is one of the most risk free ways to double our money in the next 2-3 years. It is very easy to put together a detailed proforma with exact dates that we can expect payouts. The only surprises are early payouts from refinancing, or potential foreclosures and we analyze all of the collateral and avoid any pools with negative equity collateral.
Crown Capital is looking for investors in both categories and can explain the performance of the different investment types in detail. Please register with us to gain access to detailed information and begin the process of seizing these tremendous opportunities.
The Process
Typically, the FDIC will put a simple due diligence package together and provide it to all bidders on a set date. At that time, the bidders have one month to perform their own due diligence and determine the price they are willing to bid on the set bid date.
The Crown Capital team will perform a thorough evaluation of each loan and property to enable our investors to make a completely informed decision. We will tell you what we calculate as the correct bid amount and each investor will decide whether he wants to participate and how many shares he wants. The only case that we will allow the investor to modify our bid price is if he is the sole participant in the pool, or if we have a unanimous consent from investors.
The FDIC is extremely cautious of confidentiality in this process and requires that anyone we give information to is authorized as a sub-user on our account. This is the reason we can not post any pool specific information on our website and require a registration process to participate.
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