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Coastline Capital Fund December Updates

Here are the details for the individual Funds:

Fund III Update:


Of the 3 remaining assets:

• 1 REO is undergoing additional repairs to fix the contractor’s substandard work before relisting the property for sale.

• 1 REO has a hearing in early December that may allow us to clear title so that we can list the property for sale

• 1 REO is vacant & undergoing a trashout. We are obtaining bids on repairs for a rehab & will commence once we receive the Sheriff’s Deed.

To view Loan Level details, visit this page at our website. We believe that this Fund will completely liquidate within the next 6 months.

Fund IV Update:


Of the last remaining asset:

• 1 NPN in which the borrower is 75+ days late. We filed a Motion for Relief & have the final hearing scheduled for early December.

To view Loan Level details, visit this page at our website.



Coastline Capital Fund December Updates


Fund V Update:

Of the 2 remaining assets:


• 1 REO is undergoing a light rehab before going on the market in mid-December.

• 1 REO had a trash out completed. We are doing more valuation work to determine what level of rehab we will do.

To view Loan Level details, visit this page at our website. We believe that this Fund will be completely liquidated within the next 6 months.

Fund 6 Update:


Of the remaining 9 assets:

• 1 REO is undergoing a rehab before going on the market.

• 1 REO is getting bids for repairs for rehab while we wait for the Sheriff’s Deed.

• 1 NPN converted to REO after a successful Deed in Lieu/Cash for Keys with the borrower.


The home is vacant & we are obtaining bids for repairs for rehab.


• 2 NPNs have December Sheriff’s Sale dates.

• 1 NPN had a 2nd sale date in November. For a 2nd time, the borrower’s wife won the bidding, which went up to about $60,000 more than the property’s market value. She failed to fund the bid, which resulted in her forfeiting a 5% deposit to us. We are in the process of re-setting the sale to January, 2022, and increasing the final judgment amount, which will allow us to collect a greater deposit amount if this happens a 3rd time.


• 1 NPN has a mediation in progress in which a short sale or Deed in Lieu is possible with the borrower.

• 1 NPN in which the borrower filed a Chapter 13 bankruptcy to postpone a December Sheriff’s Sale date.

• 1 NPN in which we are submitting the final judgment package to the court.


To view Loan Level details, visit this page at our website.



Fund 7 Update:


Fund 7 closed to new investment on November 15, 2021. We raised $760,000 and are in the process of acquiring assets. Just before the Thanksgiving weekend, we had bids accepted on two non performing notes and have started due diligence on them.

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