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 and non-performing mortgages. The Conference is also a great way for us to get a sense of the market based on pricing, inventory and the other attendees’ thoughts on the real estate market.
Freddie Mac decided to cancel their auctions over the holidays but have already conducted their first auction for January. We are also seeing Wells Fargo, Selene and a number of other smaller sellers start to sell inventory through the auction channels and anticipate this trend to continue for the foreseeable future.
Total Fund Annualized Return Since Inception: 21.16%
|Performance Since Inception|
|Land Contracts Summary|
|Face Value of Notes||$928,777|
|Non-performing Notes Summary|
|Modified Notes Summary|