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Non Performing Note Investment Fund
Investment Info:
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"), $3,526,187 in Total Collectible Debt, and $2,391,946 in Fair Market Value of collateralized property. The properties that secure these notes are located in Illinois (5), New Jersey (3), and Florida (3).
The Fund offered an 8% Preferred Return and a 60% or 50% Profit Split to the Investors.
The notes were purchased between February, 2021, and May, 2021. We expect the bulk of liquidations to occur between August, 2021 and July, 2022. The Fund will terminate operations and return all proceeds by February, 2024.