Single-family residence note investment investment.
Purchase price: $2,105,000
Cash invested: $2,105,000
Coastline Capital Fund 6, LLC raised $2,105,000 and closed to new investors onFebruary 22, 2021. The Fund purchased 11 first position, non-performing notes with $2,519,522 in Unpaid Principal Balance ("UPB")The properties that secure these notes are located in Illinois (5), New Jersey (3), and Florida (3).
What is the plan for those properties (especially the ones in Illinois)?
@Rob Hayes Sorry, i didn't answer earlier! I didn't realize that this was going to turn into a post.
To answer your question:
2 of the 11 have already liquidated
1 as a short sale in Skokie, IL
1 sold to a 3rd party at the sheriff's sale
Of the 9 remaining:
1 is an RE about to hit the market in Fairview Heights, IL
1 is a DIL in Park Ridge, IL
1 is waiting for confirmation of sale in Berwyn, IL
4 have upcoming sale dates (including 1 in Harvey, IL)
2 are pre judgment
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