Doors open at 6:00 for early arrivals and networking. All meetings start at 7:00 and end at 9:00.
“We launched Foundation CREF (Commercial Real Estate Funding) to offer debt financing to a select group of buyers who will be given access to late stage foreclosures in the American Mortgage Investment Partners (AMIP) portfolio. AMIP has a portfolio (in its Residential Credit Opportunities Fund) of several thousand non-performing residential mortgages across the country and the company is delivering upwards of 200 REOs per month to the market across the US.
Once we have vetted an agent or investor, we send them an NDA and once we have this executed can begin sending the complete list on a bi-monthly basis to see if any properties may be of interest. The list will be updated every two weeks as new properties are scheduled for auction or as the status of those already on the list is updated(i.e. occupied to vacant, or if the property is now a REO.). We will provide hard pricing on any of the pre-foreclosure assets and you will need to make an offer on any REOs. We can also provide pricing guidance on those REO’s.
The quid pro quo with this program is that we want to be the lender for the property that we send to the investor. The ultimate goal is to establish a lending relationship beyond the properties we send to you.
My role as relationship manager/loan originator is to find investors in the mid-Atlantic and establish a relationship with them. I write term sheets and evaluate every property my clients send to me. The most interesting part for me is that we want to evaluate the property just as much as the investor because we want to make sure the property will be able to pay us back, not just the borrower. I believe our process has created a unique experience of transparency and clear communication which makes it easy to establish a good relationship”