When does money disbursement occur?

IRESE initiates money disbursement as soon as the Broker signs all the documents evidencing the financing and if needed Property Owner executes required promissory notes, and authorizes money disbursement. That triggers IRESE to initiate transfer of the financing proceeds to the Broker electronically using the ACH (Automated Clearing House) banking network. The funds usually reach the Broker’s account the next business day after IRESE initiates the transfer.

Interest on your Real Estate Note begins to accrue on the business day following the day IRESE initiates the funds transfer, which IRESE considers the funding date or origination date of the note.

When do I get my Real Estate Note?

When the Broker signs for the note, IRESE creates Real Estate Note shares, with each share in the principal amount $100 and number of shares determined by the amount of each Investor’s winning bid. The notes are dated as of the business day following the day IRESE initiates the funds transfer. This is referred to as the funding date or origination date of the note, and is the date when interest begins to accrue on the note.

IRESE sells and assigns your Real Estate Note shares to you on the day after the origination date of the loan. At this time, the amount of your bid will be withdrawn from your IRESE account and transferred to IRESE in exchange for the shares.

As soon as the Real Estate Note shares are created, the shares will be created immediately and be visible in your account under Portfolio section. Go to "Home > My IRESE > Investing > Portfolio". Take me there

The detailed information about Real Estate Note purchased can be found under Orders. Go to "Home > My IRESE > Investing > Orders". Take me there

How does the origination date relate to the monthly payment dates?

The monthly payment due date on Real Estate Note is the same day of the month as the origination date of the Real Estate Note. Monthly payments are due on that same day of the month for number of months for the note term into the future. For example, a Real Estate Note with an origination date of November 4 has its monthly payments due on December 4, January 4, etc.

Real Estate Notes that have an origination date that is a day of the month which doesn't exist in future months will have their monthly payments due on the closest possible day of future months. For example, a Real Estate Note with an origination date of January 31 has its monthly payments due on February 28 (during non-leap years), March 30, April 31, etc.

Learn more about Real Estate Note payments.