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 started to liquidate some of their holdings. This trend is predicted to continue. We also recently established a close relationship with Wells Fargo and are bidding on our first package of REO’s through them.
The CIG fund was originally scheduled to be open for forty-two months and to start liquidating all assets in the fourth quarter of 2015, with a finish date scheduled for the end of 2016. Many of the investors, especially the ones that have only been in the fund for a relatively short period of time, would like to see the fund term extended for at least another year. Because of the aformentioned market opportunities, we have agreed to extend the fund’s deadline. This means that we will start liquidating all assets at the beginning of 2017 in order to be finished by the end of that year. Though we have spoken to many of our investors, we want to make ourselves available to everyone in the fund. If you need more clarification regarding this decision or are uncomfortable with the new liquidation date, please reach out to your Investment Advisor or Jon Freeman, Stonecrest’s President.
Total Fund Annualized Return Since Inception: 22.53%
|Performance Since Inception|
|Land Contracts Summary|
|Face Value of Notes||$709,149|
|Non-performing Notes Summary|
|Modified Notes Summary|