Stonecrest
StonecrestPerformance Report:
As of 3/31/16:
• First quarter average return: 7.2%
• Year-to-date annualized return: 7.2%
• Number of loans: 60
• Gross loan portfolio dollars: $35,054,969 (69.24% in 1st and 30.76% in 2nd position)
• Average loan-to-value: 46.85%*
• Average loan amount: $584,249
*calculated when loans are initially funded
Featured Asset:
Our featured property this quarter is located at 1868 Rosswood Drive, in San Jose, CA. This home is a 1,457sqft, two-story, single family home that sits on a 9,492sqft lot. It has 3 bedrooms and 2 bathrooms. It also has a studio with a full bath. This home was built in 1970 and has a beautifully remodeled kitchen featuring granite countertops, upgraded wood cabinets and updated appliances.
Our borrower wanted a business credit line against this investment rental property. He is running a sucessful corporate rental company and has a great financial profile. The property appraised at $870k. We were able to provide him with a $350k line of credit in 2nd position behind a $199k first. Even cosidering his first mortgage and our loan payments, the property will generate postive cash flow. At a 63% combined loan to value, this is a good deal for the portfolio.
Property Types:
Past 12 months Annualized Returns:
| Month | Income Partner | Growth Partner |
|---|---|---|
| April, 2015 | 7.2% | 7.4% |
| May, 2015 | 7.2% | 7.4% |
| June, 2015 | 7.2% | 7.4% |
| July, 2015 | 7.2% | 7.4% |
| August, 2015 | 7.2% | 7.4% |
| September, 2015 | 7.2% | 7.4% |
| October, 2015 | 7.2% | 7.4% |
| November, 2015 | 7.2% | 7.4% |
| December, 2015 | 7.2% | 7.4% |
| January,2016 | 7.2% | 7.4% |
| February, 2016 | 7.2% | 7.4% |
| March,2016 | 7.2% | 7.4% |