With this newsletter, you will receive your final distribution for the Capital Income & Growth Fund, LLC. We opened the fund in 2014 in order to continue to take advantage of real estate market opportunities. The fund officially closed on March 31st, 2017, and we’ve recently finished the last of the asset sales. During the
Our real estate sales department was very active in the third quarter, selling forty-two properties and working towards liquidating the rest of Capital Income & Growth Fund by the end of this year. We still have a handful of non-performing notes that are in foreclosure. Some notes are going to sale shortly and our goal
The real estate market across most of the United States has been strong. This is good news for all of Stonecrest’s funds and Capital Income & Growth Fund is no exception. Our REO team really hustled and was able to sell twenty-two properties as well as get another twenty-six properties into escrow during the second
Sales of real estate slows during the winter months, especially in the mid-west and eastern parts of the country. With that being said, our sales team was able to sell twenty-four REO’s and five non-performing notes. We are looking forward to a robust selling season for spring and summer as winter exits in many parts
The Capital Income & Growth Fund will be winding down in 2017, with distributions of shareholder capital coming at each quarter end starting in Q1 and ending in Q4. Stonecrest was considering opening a new distressed asset fund but hesitated because of concerns regarding the availability of inventory in the coming years. Then we discovered
For the third quarter, our sales team was able to liquidate thirty nine REO assets, as well as sell forty low-value mortgages from our inventory. We have continued to purchase a handful of bay area properties from our tax delinquent marketing program. These properties, though hard to find, have a higher profit margin than auction
In addition to the REO purchases from auction companies, Stonecrest’s Capital Income and Growth Fund has been purchasing and marketing tax defaulted properties throughout California. We were able to have a list created for us that designates how delinquent a particular homeowner is on their property. We then contact them via letter, telemarketing, or a
The number of REO assets that are available for auction has remained steady, with Freddie Mac still being the largest seller. We continue to hear from our auction company contacts that Fannie Mae is going to start selling occupied properties in volume. At this point, we have yet to see any significant number of those assets coming to market.
Due to the late onset of winter in the East, Stonecrest’s Capital Income & Growth fund was able to sell fifty-two properties through our retail division and thirty modified notes through our note division. In late February, we will be attending the Mortgage Banking Servicing Conference in order to meet with prospective sellers of REO’s
The Capital Income and Growth Fund had a busy third quarter, selling 49 properties, 12 notes, and modifying 8 delinquent loans. We are still seeing plenty of opportunities for investing in discounted real estate and mortgages. In fact, the number of assets for sale from Freddie Mac is increasing and, just recently, Fannie Mae has
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