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 knock on their door. The goal is to assess the situation and see if we can purchase the property for a discount.
Sometimes, we find that the property is vacant because the homeowner is deceased. In those instances, we do research to find the heirs and then try to purchase the property from them. This strategy has worked well and we will be expanding our efforts through the second half of the year in order to take advantage of this approach and still meet the fund’s official termination date at the end of 2016.
Invested capital and profits will be distributed throughout 2017, with the first distribution coming at the end of that year’s first quarter.
Total Fund Annualized Return Since Inception: 19.45%
|Performance Since Inception|
|Land Contracts Summary|
|Face Value of Notes||$947,142|
|Non-performing Notes Summary|
|Modified Notes Summary|