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New to active rain but not to real estate. I spent from 1992 to 2001 buying non performing mortgages and other debt instruments from the FDIC, RTC, OTS, banks and other private equity buyers. It all changed in 1997 or so whent Fleet Bank held a 600 million dollar auction in Atlanta. We went with 5 million in capital and came home empty! Why- The boys at Blackrock Capital, Japanese investors and other Wall Street firms bought everything for crazy numbers like 70% of the book balance. We were accustomed to 30 cents on the dollars so we said forget it. During the … (5 comments)
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Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
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