As of 12/31/13:
• Fourth quarter average return: 7.2%
• Year-to-date annualized return: 7.2%
• Number of loans: 94
• Gross loan portfolio dollars: $36,546,028 (64.34% in 1st and 35.66% in 2nd position)
• Average loan-to-value: 43.67%*
• Average loan amount: $388,788
*calculated when loans are initially funded
Featured Asset:The featured property this month is located at 499 Avenue Alhambra, in Half Moon Bay, California. This is a 1570sqft two-story single family home with 3 bedrooms and 2 bathrooms. The property was built in 1996 and sits on a 3,223sqft lot. It has gorgeous bay and harbor views.
Our borrower is an active retiree. After he retired from his regular job many years ago, he started a business that he subsequently sold. Now he plans to restart his business, but at a new location. He needed a $100k business line of credit for working capital in order to move forward. Stonecrest was able to provide him with the credit line he needed secured against his residence as a 2nd. His 1st mortgage is a low rate bank loan with a balance of $315k, so we felt fine going behind it at a combined loan-to-value of 55%.
Past 12 months Annualized Returns:
|Month||Income Partner||Growth Partner|