At Mountain Funding, we never close a loan or equity investment unless we are comfortable that we can operate or develop the asset ourselves, if necessary. In the hard money bridge loans business, this philosophy and ability is essential, and failure to abide by it has been the cause of the demise of almost every competitor that we have had since 1993. Over the years, this policy has consistently paid dividends to Mountain Funding, as successful optimization of REO assets is a core ingredient to success in the hard money lending and mezzanine debt business. Some examples of the troubled assets that we took back and profitably completed include:
- Land development and ultimate sale of 1,103 age-restricted home sites to national builder
- Operation and repositioning of 25-property retail portfolio in 13 states
- Numerous housing subdivisions completed and sold
- Multiple fractured condos, units sold and/or leased up to stabilization
Our in-house team has a broad array of development and NPL REO real estate asset management experience, including: land entitlement and development; single-family construction and sale; multi-family construction and sale; condominium conversion and sale; and commercial/apartment management and leasing. All of the above comes into play when managing and developing REO property, whether for our own account or for third party institutions. Please click here for details on some of our success stories where we have turned REO lemons into lemonade.