Independence, MO
Amount Raised: $19,000
-
Interest Paid: $2,280
-
Return Paid to Lender: $21,280
-
Term Length: 4 months
-
Amount Raised: $19,000 - Interest Paid: $2,280 - Return Paid to Lender: $21,280 - Term Length: 4 months -
This Independence, Missouri deal presented challenges. The loan went into delinquency because the property failed to sell. We took active steps to manage the situation. The property was listed on the market with no offers. We removed it, completed additional repairs, and relisted. Sales activity remained slow, so we reduced the price twice before securing a buyer. Throughout this process, we provided the lender with brief updates every two weeks. No surprises. When the property finally sold, the lender received all interest and principal. The loan was late, but no capital was lost.
