Considering the harsh winter that we had in the mid west and eastern parts of the country, our sales of houses did well. We sold forty-nine properties over the quarter. Now that spring has arrived, the market is thawing. We are extremely busy with sales activity across most of the country. We have also been able to finalize a number of pending evictions, which were delayed during the holidays and severe winter. Courts don’t like to evict during the holidays, and so give occupants ample time to move out of the houses.
We were also able to close and sell a group of forty-seven of our modified loans to a new hedge fund located in Dallas, for a healthy profit. To garner the highest bids on modified loans, we have to make sure the loans’ borrowers are current with their payments for a minimum of six months. This takes constant vigilance. Our staff did a great job of keeping the borrower group current until we were able to close.
Total Fund Annualized Return Since Inception: 24.84%
|Performance Since Inception|
|Land Contracts Summary|
|Face Value of Notes||$788,505|
|Non-performing Notes Summary|
|Modified Notes Summary|