We have been working through foreclosure where necessary, completing rehabs, stabilizing properties as rentals, and ultimately pursuing a portfolio-level sale. While we believe this approach offers the best potential outcome, it is inherently time-intensive and may take longer than originally anticipated.
At this time, we do not have a formal alternative strategy in place. However, given this feedback, we want to better understand investor preferences. Specifically, we are looking to gauge interest in a potential early resolution option that could provide more immediate liquidity, but would likely involve accepting a significant loss of principal in lieu of waiting for a potential higher recovery through the current plan. To that end, please take the following survey: Take the survey here (~1 minute)
Will you offer a buyback for other defaulted LROs? To be clear, we are NOT offering any type of buyback plan at this time for a Jacksonville LRO or any other defaulted LRO.
Will I be able to pick and choose which LROs I want to opt-in for early liquidation (if given the option) or will it be an all or nothing approach? We have not made any determinations as to an alternate resolution plan or what that might entail.
Where can I opt-in? Is there a deadline to opt-in? There is nothing to opt-in to at this time.