I have read about $600m of paper being shopped of readycap’s paper. Does anyone know if this is being openly marketed, by a third party, directly by Readycap, if it’s one large pool, or if there are one offs ? Trying to figure out how to get in front of that opportunity. Thanks!
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Based on the WSO Dataset, there isn't specific information about Readycap or the details of their paper being shopped. However, in general, when large amounts of paper like $600m are being marketed, it could be through various channels:
Directly by the Company: Sometimes companies market their own paper directly to investors to maintain control over the process and potentially reduce fees.
Through a Third Party: Often, companies will use investment banks or private brokers to market their paper. This helps in reaching a broader investor base and adds a layer of professionalism and market knowledge.
Market Structure: It could be one large pool or several smaller ones. Large pools are typically used for more uniform assets, while multiple smaller offerings might be used to cater to different investor needs or risk profiles.
To get in front of this opportunity, consider the following steps: - Direct Inquiry: Contact Readycap directly to inquire about the offering. - Network: Utilize connections within the finance and investment community who might have insights or direct routes to the offering. - Monitor Financial News and Platforms: Keep an eye on financial news platforms and investment forums like Wall Street Oasis for any public announcements or discussions related to this.
These steps can help position you to better understand and potentially capitalize on the opportunity with Readycap's paper.
Sources: Alternative Lenders & the End of Risk Taking for Banks - Opportunity or Risk?, https://www.wallstreetoasis.com/forum/private-equity/an-ocean-of-capital-saturation-in-private-equity?customgpt=1, State of Market Discussion, Tides Equities?, I'm long office properties
If it was your mother who was being shopped around would you be so giddy? Have a little respect, before we auction your mother off to a syndicate of horny wall street douchebags.
Probably being marketed by the same brokerage that has marketed several pools for them since Covid
Lol Readycap is run by a bunch of idiots. They bought Broadmark, which had pretty crapp loans on the books and now are stuck with them. Their management team is clueless. Not to mention they have a bunch of paper for a ton of multifamily syndicators.
I believe Newmark is doing some of the marketing, but can't recall.
How I imagine these calls with newmark go - ok so let's cut to the chase - are you bidding 20 or 30 cents on the dollar? lol
They send us a breakdown of their loans/tapes they are wanting to sell off.
ReadyCap is in sh*t. The only thing going for them is their SBA stuff. Otherwise their entire team is filled with morons that don't grasp basic lending principles. Probably one of the worst run shops I have dealt with.
So yes if you plan to buy something they might cut you discount on the notes.
Announced they're selling at 50-70 cents on the dollar (actually multi family 50)
50 cents on the dollar is pretty insane
Where'd they announce this? I've been talking to them every few weeks and haven't heard this.
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