Palomar Note Buyers has a problem. We have more “deals” available to us, then we could ever possibly fund ourselves. If you find this interesting and would like to hear more about the deals we have, then sign up for a mailing list. We seek Joint Venture Partners to help with the acquisition of selective Non-Performing 1st Lien Mortgage Promissory Notes, backed by the underlying property (Single Family Residential Properties).
As a Joint Venture Partner who will fund the purchase of the notes and we split all profits 50/50. With NO mixing of partners or funds. We select one partner with one Note/deal. Each partnership is its own entity, and comes with full access as to the progress of your investment.
The Joint Venture Partner will provide all funds for us to acquire the note from the bank. And all funds needed to ‘work’ the asset into money via our exit strategies. Funds for any incidental taxes or fees, attorney costs (if it goes to foreclosures, roughly $3000) and for boarding at our licensed loan servicer. Any cash flow that comes from either working out a repayment plan with the borrower, or from rents will be split 50/50. After a standard tem of 12 months we can revisit this situation and continue for another year, or agree to sell either the note or the property. From the proceeds,
From the dissolvent of the asset, the funding partner will receive their entire paid-in amount. After the funding partners receives all their paid-in funds, the end amount will be split 50/50.
Another alternative is for the funding partner to buy-out the other for their side of the 50/50 spilt. Hanging onto the re-performing Note has lots advantage for passive income investors. As we have stated before it’s a great way to get rental income without the management headaches.
For more information on our Joint Venture Partner program, please fill out the form below (website designer, we will need a separate signing list for Joint Venture interest), or call us at 760-745-7873