Tools for distressed real estate pros.

Why a Billion Dollar Bank Went Bust

Distressed Construction Loans and REO
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This is the third in a series of five post mortems on the banks that were closed on January, 22nd 2010.
Charter Bank of Santa Fe, NM was a $1.25 Billion dollar bank. It was closed on Friday by the FDIC and reopened as a Beal Bank subsuduary on Monday morning. Beal Bank is a [...]

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Why Evergreen Bank Failed

Distressed Construction Loans and REO
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This is second in a series of five post mortems that I’m doing on failed banks this week. This one is Evergreen Bank, formerly a community bank based in Seattle WA. Like many other community and regional banks it had to compete where the big guys couldn’t, or wouldn’t. Stats as of last reporting are [...]

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5 Failed Bank Autopsies January 22 2010

Distressed Construction Loans and REO
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Five banks were shuttered on Friday. It’s funny (sort of) that this has now become such a common Friday night occurrence that there is very little coverage of the events on Monday morning. A Google search this morning revealed fewer than a handful of reports on the closings and none with many details. I’m going [...]

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Podcast: Distressed Commercial Assets Masterminds

Commercial Real Estate Non-Performing Loans and REO
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You’ve probably heard of Mastermind Groups by now, and maybe you’re even involved in one, but are you using them to drive your distressed real estate transactions? Ken Hecht is doing just that.
Ken was a key player in the Wang Towers deal, probably the most famous distressed commercial property transaction in New England during the [...]

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Podcast: 6 Components to a Successful Distressed Assets Fund

Distressed Property Podcasts
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Distressed real estate represents an enormous opportunity today if you have the capital. With debt more difficult to come by, and where many investors have taken losses, pooling capital is an increasingly attractive option for investors and would-be sponsors/managers alike.
Continuing our Distressed Property Professional’s Podcast Series, in this podcast, I talk with Attorney Warren Kirshenbaum [...]

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Uptick in Distressed Commercial Inventory?

Commercial Real Estate Non-Performing Loans and REO
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I got this question from a visitor this morning so I thought I’d put it out to our members and the web.
I represent the owner of a large, foreclosed upon hotel. We’re exploring HUD 232 LEAN financing for an assisted living facility. Of late, there seems to be an increase in inquiries related to retail [...]

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Podcast: Commercial Property Receivership

Distressed Property Podcasts
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Commercial property receivership is getting to be a hotter topic by the day. With mountains of distressed commercial real estate loans piling up with banks across the country and an increasing number of vacant commercial properties, property preservation and receivership assignments are on the grow.
I recently caught up with Greg Trotter (see [download id="3"] resume), [...]

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New: Distressed Property Professional’s Podcast Series

Distressed Property Professionals
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I’m excited to announce that among a flurry of launches for 2010 we’ll be bringing you the Distressed Property Professional’s Podcast Series (that’s a mouthful!). I’ve been talking with high level professionals engaged in various aspects of distressed property and I’m recording it all so you can hear them here and on iTunes (as well [...]

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Launch: Announcing the Distressed Pro Affiliate Program (with recurring income)

Affiliate Program News

We’ve got a very exciting announcement today. We’re launching the Distressed Pro Affiliate Program. The program pays cash, and gives affiliates a long-term stake in visitors that turn into subscribers of distressedpro.com – Join Now.
Now and forever
Many affiliate programs pay cash on new business referrals. Our program does that too. However, we decided to evolve [...]

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2009 Distressed CRE Loan Totals Projected to Double

Commercial Real Estate Non-Performing Loans and REO
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At the close of 2008 the nation’s lenders reported $28,759,725,000 in distressed commercial real estate loans. At distressedpro.com we’re projecting double that figure at the close of 2009.
We won’t have final figures until mid-late February for the close of 2009 but we’re projecting the final reporting for distressed commercial real estate loans for US banks [...]

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CRE Flood Begins in 2010

Commercial Real Estate Non-Performing Loans and REO
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American Banker, an on and off-line trade magazine for the banking industry ran an article today reporting much of the same thing that I have been saying here on this blog That Sinking Feeling: CRE Flood Set to Start in ‘10. Banks will face significant problems with commercial real estate starting in 2010. This is [...]

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