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Welcome to Provident Assets Inc. 

Provident Assets Inc. was established in 2009 as a division of Provident Realty Group Corporation, a Real estate holding company founded over 12 years ago. Provident Assets Inc.financial wherewithal, Extensive experience in ownership, acquisitions, management and construction provides us with a synergy to acquire non performing loans, REO’s and distressed properties.

Accordingly we are able to successfully leverage this background through strong ties to the real estate community, resulting in the formation of the Watermill Realty Group.

• Provident Assets Inc. is a leader in residential & commercial real estate
• PAI specializes in the acquisition of sub and non performing loans, bank owned properties
• Synergy with Provident Assets Inc. facilitates a seamless transition from foreclosure to acquisition

Market Overview:

PAI ‘s primary agenda is to purchase distressed properties in Kings and Queens counties. Which combined has a population of 4,873,000 with approximately 572,000 owner occupied homes.

Based upon our experience these two areas represent the best opportunities in terms of demand for housing and profitability.

2012 Trend:

In Kings county, one out of every 1559 units per month received a foreclosure filing.

in Queens county one out of every 1793. On average there have been 1100 foreclosure filings per month for the counties combined.

Modus Operandi:

We will acquire distressed properties in the following ways:

REO’s- ( Real Estate Owned) We maintain a continuous dialogue with lender appointed real estate brokers which specialize in the disposition of bank owned properties.

Please note however that we have determined that there will be a trend on the part of

lenders to move away from foreclosures to short sales . As a viable, less expensive

and more expeditious way to dispose of distressed real estate.

This has been punctuated by recent decisions made by some of the larger lending

institutions to put a freeze on foreclosures because of faulty procedures.

Short Sales-

1. PAI will locate and pursue homeowners directly who are in default on their mortgages. We will assist them in negotiating with the lender for relief, by facilitating a transaction to sell their property to a third party for a discount.
2. PAI will work with local real estate brokers who are themselves working on short sales.

NPN’s- ( non performing notes)/ deed in lieu of foreclosure. PAI purchases non performing first mortgages at a deep discount to the unpaid balance. Simultaneously, we will purchase the deed from the homeowner.

Probates- PAI researches probate data on a monthly basis and works with area probate attorneys in order to contact estates which may have real estate for sale.

Upon acquisition we fully renovate the property making the home marketable and satisfying all building code and lender requirements.

Through its affiliation with Provident Realty Group Coporation PAI benefits by having strong relationships with a wide range of reliable contractors.

The properties are marketed for sale using:

MLS – multiple listing service

Print Ads in newspapers

Internet based advertising

Designated selling broker specialists