Coastline Capital Fund III Update:
We successfully raised $1.6 million for this Fund in December, 2018! We were able to purchase 2 non-performing notes before the end of the year. We’re getting tapes from our sellers now and expect to bid, perform due diligence, and purchase non-performing notes with the remaining investable capital by the end of January.
The two notes that we bought are both in the Chicago, Illinois area. One should go to sale within the next 60 days. We’re about to get a judgment for foreclosure for the other one which puts us about 4 months away from liquidation.
We’d like to thank the investors that contributed capital to let us make Fund III happen! We look forward to getting the best assets possible, liquidate, and return as much profit as we can….
If you didn’t invest in Fund III, there will be another opportunity to invest with us later this year. Once we complete our buying for Fund III, we will make plans for opening our next Fund. Tentative opening date for the next Fund is April 1st, 2019, which would tentatively close to investors June 30th, 2019. We want to take the previous year’s experience, investor feedback, and potential future investor interest into account so that we can make our next Fund is better than the last one.
Let us know if you’d be interested in future opportunities.
Coastline Capital Fund II Update:
We were hoping to have Fund II wrapped up by the end of last year but we still have two assets left to liquidate.
Our REO in Chula Vista, CA has had no offers on it and we’ve been experiencing the flattening of the market in the San Diego market. In about October, 2018, the market flipped from low inventory and homes being sold quickly to much higher inventory and properties sitting on the market. It’s a good property in a good neighborhood and it will sell, just later than we expected it to.
Our REO in New Bern, NC, has also been sitting on the market. We are looking at different liquidation options and are working to get this taken care of as soon as possible.
Webinar Power Point Presentation followed by Q&A with the Sponsors of Fund III
We presented a webinar on Wednesday, November 7th that went into detail on the most important aspects of that Private Placement Offering. We discussed the opportunity and profit potential of investing in non-performing notes, our competitive advantages, our strategies on liquidations, and current and past liquidations of notes. We showed projected performances of non-performing note investments as well as what the return looks like to the investor.
Although Fund III is now closed to new investors, this can still be useful to you if you’re considering investing in one of our future funds.
Click here to access the webinar presentation.