CRR Blog

Cross-Collateralized Loans Mean You can Kill Two Birds with One Stone.. or maybe More!

I have been searching upcoming Trustee Sales recently and I have noticed more and more records where the Estimated Bids & the Trustee Sale Numbers are identical from one property to the next.  This would appear to be simply a duplicate record, except the addresses and APN's are different, and there are often 3 or 4 or 5 such records all going to Trustee Sale on the same date for a very small amount.  In some cases there are even larger numbers of such records in the case of large development projects that have run into problems.

As always, someone who fails to make their payments jeopardizes their investment and creates a situation where we can capitalize on their mistakes.  One loan on multiple parcels is the same as one loan on one parcel, in terms of how we approach the buy at auction or the attempt to buy the note before auction.  This is true whether they are empty parcels, incomplete homes, or a home with multiple adjoining parcels. 

There is extra due diligence needed on our part to research each parcel to make sure there are no senior loans on any of the various parcels, but the benefit can far out-way the time required to research the loans.  Imagine getting 5 properties for the price of one.  It can happen.  Or imagine getting a house on orchard property or farmland.

If you discover an opportunity and have the resources to capture it you will call yourself extremely fortunate.  If you can do so at a bargain, so much the better.

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