We have more "deals" available to us, then we could ever fund ourselves. If you find this interesting and would like to hear more about the deals we have, then sign up for our mailing list. We seek Joint Venture Investors to help with the acquisition of selective Non-Performing, 1st Lien Mortgage Promissory Notes, backed by Vetted underlying property (Single Family Residential Properties).
A Joint Venture Partner who is seeking above average returns, will fund the purchase of the Note Asset and will be in the Preferred position of receiving their Investment back prior to the disbursement of the 50/50 profit split. With NO mixing of partners or funds or asset. Every investor get their own Note Deal separate from Palomar and any other Interest. Each partnership is its own entity, and comes with full access as to the progress of your investment. Title is take in Investors Entity and Palomar's LLC.
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 $2500-3000) 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 term 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 dissolution 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 split. 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. Our investors from San Diego, Orange and Los Angeles are investing with us in out-of-state Notes, secured by Real Estate.
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 or Jeff@PalomarNote.com