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 properties. One of the main reasons is due to lack of competition– these properties are not listed or easily accessible to other investors. Many times we have to track down distant heirs because the
homeowner has passed away without anyone probating the property. We do this by using specialize software, telemarketing, and having someone out in the field knocking on the neighbors’ doors.
We are continuing to liquidate assets in anticipation of distributions to the investor base, which is set to begin at the end of the first quarter 2017.
Performance Statistics
Total Fund Annualized Return Since Inception: 18.86%
Featured Asset:
[su_table]
|
Our featured property this quarter is located at 52 Oakland Street, Irvington, New Jersey. This is a 1365sqft single family home with 4 bedrooms and 2 bathrooms. Investment Stats (rounded):
|
 |
[/su_table]
[su_divider]
Fund Performance:
[table id=76 /]