NEXT Asset is an alliance of companies who have advised banks, builders and capital funds in the sometimes overwhelming challenges and opportunities of dealing with "someone else's property." Banks never planned on becoming real estate developers, and now have been thrust into that role literally by default. It's like a parent being called from the stands in the 7th inning of a Little League game, after the coach had a heart attack, behind four runs, knowing only one player, never having coached before. Drawing from extensive experience in working with a wide array of banks, to help manage a vast assortment of special assets, NEXT Asset was created to transfer that knowledge and insight to the "new owners" of real estate – trying to navigate the "new market" out ahead. A result of over a year of planning, this course brings practical on-the-ground, in-the-boardroom strategies as an additional tool to make the task ahead more profitable with less risk. The goal is to move from being reactive care-takers – to knowledgeable and pro-active managers of special assets – all pointing to one goal – disposition!
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Special Assets: Understanding – Protection – Disposition
A Course on Financial and Physical Strategies from Pre-Foreclosure through final Disposition

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MODULE #1: Moving from a good understanding into sound decisions to protect the asset & bank

Topics include:
•  The unique challenges for banks moving from lenders to owners, and learning an entirely new mind-set in management. Like it or not, authorities now view --- and treat ---- banks as real estate developers.
•  Retrieving and storing complete and accurate documentation on each asset. The difference between “static” and “dynamic” documents to track and control management expenses and increase sale value.
•  On-the-ground issues to investigate at the site; status of entitlements and permits; identifying potential environmental liabilities; condition of infrastructure; and how to deal with authorities.
•  Legal and regulatory issues in dealing with borrower prior to foreclosure; identifying bank’s liability exposure before vs. after foreclosure; and why it is critical to “keep it local” with site inspectors.
•  Insights from one of the country’s top bank analysts on the impact of problem loans and special assets on the bank’s capital and market value. Why ignoring issues is not a strategy.
•  The three tiers of regulation from Federal down to local that may take aim at the bank once it becomes an owner. Why costs and liabilities go up exponentially if site problems move from local to state agencies.
•  A “short course” on the difference between erosion control and sediment control, and why failure at one means a stream of big costs at the other. Why you never, ever want to hear from the state or feds.
•  The critical need for banks to see themselves in the new light as a real estate owner and developer, with the need for strategic decisions on using internal and external resources in the management process.

MODULE #2: Moving towards the end-game --- disposition, with key decisions to enhance value

Topics include:
•  Financial treatment of note or asset. The critical need to take decisive action. The impact of decisions on regulators and the ability to raise capital.
•  Key strategies for managing the physical aspects of the asset. The intimidating NPDES regulations and how to put up “fire walls” against open ended liability against forces never known before.
•  Understanding, managing and enhancing entitlements for properties to meet the “new market” for disposition. Why assumptions of the original project may no longer be valid.
•  Dynamic online tools to track, document and control ongoing asset management tasks.
•  Navigating the maze of management issues in real estate assets with internal and external resources. Why maintenance and improvement bonds may be important. Combating deteriorating forces on assets.
•  Strategies for disposition in situations such as having participants or the FDIC as a partner; possible joint ventures; “warehousing” financing for land/lots; providing construction loans and dealing with regulators.
•  Who is your buyer? The need to know how buyers view your asset and creative ways to convert a problem asset into a higher recovery of value. Getting input to place your asset in the context of the “new market.”
•  Moving from this course into decisive action, with both in-house and out-sourced resources. Moving assets off a spread sheet into a systematic process of understanding, protecting and on to disposition.

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