All Forum Posts by: Michael Roberts
Michael Roberts has started 4 posts and replied 12 times.
Post: Loan P&I less than what it should be on tape

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@Dan Deppen Got it... so best to bid off of Total Debt (current principal balance + deferred balance) rather than just current principal balance, I'm assuming? There is a small amount of equity
Post: Loan P&I less than what it should be on tape

- Posts 12
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@Dan Deppen & @Chris Seveney Looking back there is a deferred balance listed, which (along with current principal balance), adds up to a total debt listed so it does look like it was modded. I'm assuming the deferred balance would not be recoverable.
Post: Loan P&I less than what it should be on tape

- Posts 12
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@Dan Deppen That's what I was thinking but it says Original P&I. I'll ask the seller.
@Jason D. Yes, 360 months
Post: Loan P&I less than what it should be on tape

- Posts 12
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I'm looking at a 1st lien non-performing note in which the original loan amount was $117,850. The original and current rate is 4% and loan term is 360 months. The current (and original) P&I is $474. By my calculations the P&I should be $559. Wondering why the P&I would be considerably lower, something to do with the way it's amortized?
Post: Non-performing Note Question

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@Chad U. Thanks Chad! Great info.
@Cody Cox Thanks Cody!
Post: Non-performing Note Question

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Perfect, @Cody Cox. Exactly what I was looking for. Thanks!
Post: Non-performing Note Question

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Thanks @Logan Hassinger. I understand that, was just wondering if there were any considerations for VA loans.
Post: Non-performing Note Question

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Are there any considerations for buying different types of non-performing notes? FHA, USDA, VA? I'm looking at VA NPNs in MO at the moment. Thanks!
Post: Question about buying a PAD Site

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I am looking into the option of buying a PAD site, most likely for a fast food chain or Starbucks. I'm wondering if anyone that has experience in this asset class can talk about some of the pros and cons, there doesn't seem to be a lot of info on this particular type of CRE. Thanks in advance.
Good advice @Dan Deppen I am aware of the Ohio 5 years/20% Equity (as far as I understand at this time). I'm assuming it's best to have a state attorney do collateral review. That must be quite a spreadsheet @Chris Seveney! Do you have it all on one sheet in Excel or multiple sheets?