Even nice homes can be secured by sloppy deals. Nevertheless, it can be sold.
If you look at the human elements of the deal, it becomes a safe investment.
Phoenix, AZ (PRWEB) October 01, 2014
There are many real estate notes that do not meet the investment criteria of national note buyer DICARO & ASSOCIATES. One such investment was successfully purchased this month that was secured by a mobile home note and deed of trust in Phoenix, Arizona.
The challenges with this investment were the following; No down payment, less than 2 years worth of seasoning (payment History) and the property only appraised for $70,000 when it sold for $110,000. On top of that, the note and deed of trust was not personally signed. To most other investment companies, the AZ Note looked like a bad deal from A to Z.
Founder of DICARO & ASSOCIATES, Nicholas di Caro says “If you look at the human elements of the deal, it becomes a safe investment especially because we were able to buy just 5 years worth of payments.”
The “human elements” that were redeeming factors included that the borrower was a single man who was a retired attorney and he boarded his horse at his home.
“This guy (the borrower) wasn’t going anywhere. Plus this was a serviced loan through a title company that could prove payments, “says Nicholas di Caro.
Nicholas di Caro is the Senior Investment Partner for DICARO & ASSOCIATES, LLC. Operating in all 50 states from their Chicago, Illinois location, they invest in performing and non-performing real estate notes from $5,000 to $5,000,000. They are actively buying privately held mortgage notes, deeds of trust, and land contracts secured by single family residences, mobile homes with land, and commercial properties. Most recently they have expanded their purchasing ability for billboard ground leases and cell phone tower leases. They have the ability to buy notes that other companies have denied, in addition to providing creative purchase options that are new to the industry. Learn more at http://www.nicholasdicaro.com