Eureka Capital Investments

Q: What do you do with the non-performing and REO product you buy from us?

A: In the case of non-performing paper, our first goal is to rehabilitate the product. We try to get the paper performing again. In the case of residential REOs, we finance the property to qualified buyer and working with them to be able to refinance the property after reestablishing their credit. 

Q: I general, what is your “standard” bid on non-performing or REO product?

A: Each tape will be individually evaluated and the bid will be determined by our proprietary model taking into account several parameters such as the type and location of property, lien position, credit of the borrower, documentation type, integrity of the loan documents etc.

Q: How long does it take to close once you get our tape?

A: Closing time does depend on how much product we are buying from you. If we are buying 5 non-performing, single family homes, then a 2-week closing is reasonable. If we are buying 15 homes from you, please give us 30-days. If we are buying a non-performing apartment building, office complex and retail shopping center from you, we may need 45-60 days to close.

Q: Where do you get your capital?

A: Besides our capital funded by domestic and international investors we work with hedge funds and capital groups to close quickly on your non-performing and REO product. When we submit our indicative bid to you, we also give you a verifiable Proof of Funds letter.

Q: What does your firm do with the tape we send you? We don’t want our tape being circulated to various buyers.

A: We never circulate your tape to anyone you didn’t authorize to see the tape. We know your tape has sensitive information.  When we sign a Non-Disclosure Agreement with you to get access to your firms tape, the only other entity that sees the tape is the financial source that funds our deals.

Q: Are you brokers?

A: We are a principal bid on non-performing and REO product.  We look to rehabilitate the asset to get it performing again. Besides our own capital we have partnered with financial sources to fund the transaction.

Q: Do you work with brokers?

A: No, we do not. We work directly with the Financial Institution to build a long-term relationship.