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Re: Investment Oppertunity

Posted by James V. Mikolanda on June 08, 2003 at 8:25 PM

In Reply to: that's part of the game posted by JD on May 11, 2002 at 9:54 AM

Strategic Real Estate, Inc.
Jim Mikolanda, President
5570 Barton Rd. #406
North Olmsted, Ohio 44070

(216)323-5592

Thursday, June 05, 2003


RE: Nationscredit Financial Service V. Randall Stepnowski
Cuyahoga County Court of Common Pleas
Case No. CV 377176

I James V. Mikolanda, President of Strategic Real Estate, Inc. would like to sell its interest in the current foreclosure case CV-377176. I would like to offer investors the opportunity hold the note until paid from the court of common pleas. I would like to cash out of my interest.

As an investor, I wish to discount the Mtg. for sale at a very concretive price to another investor because I can not wait the full term of the preceding foreclosure case.

FACT:
Mtg. Value: $91,637
Discount Rate: 75-80 cents to the dollar offer price

Likely term to carry note three to Five months. . .

On or about May 16th 2002, Randall J. Stepnowski and Stephanie A. Fugate, (Borrowers) and Strategic Real Estate, Inc., James V. Mikolanda (lender) executed an Agreement evidencing that the Lender has lent to Borrower for the purpose of remodeling Borrowers home located at 9299 Columbia Road, Olmsted Falls, Ohio 44138.

Strategic Real Estate, Inc. has secured promissory Note and Warranty Deed (Montage). The Deed was duly recorded with the Cuyahoga County Recorder’s office on May 16th 2002.

Stepnowski broke the Promissory Note by reason of default. Therefore, Randal J. Stepnowski and Stephanie Fugate (wife) the sum of $80,137.00 as secured in the real property by Warranty Deed.

Please contact James V. Mikolanda, President Strategic Real Estate, Inc (216)323-5592 for case background and provided documents. Information is also provided at county office or web site www.cuyahoga.oh.us/ Check under recorders office and Civil Division under case last name Stepnowski, Randal #37716. There you will find Strategic Real Estate, Inc. interest and documents.


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