Stonecrest
StonecrestPerformance Report:
as of 3/31/13
- First quarter average return: 7.75%
- Year-to-date annualized return: 7.75%
- Number of loans: 25
- Gross loan portfolio dollars: $7,743,025 (100% in 1st and 0% in 2nd position)
- Average loan-to-value: 38.64%*
- Average loan amount: $309,721
*calculated when loans are initially funded
Featured Asset:
Our featured property this quarter is a Victorian style, single family home located at 1265 Blewett Ave, in San Jose, California.
The property is within walking distance of downtown Willow Glen. It has 1,436 sqft and sits on a 5,663 sqft lot. Built in 1938, it has 3 bedrooms, 1.5 baths and a single car garage.
Our borrower needed short term financing in order to purchase this property, remodel it, and flip it. The borrower has a strong profile and is experienced in handling these type of investments. He also has good credit and reserves.
He was in contract to purchase this house for $583k and needed a loan of $310k from Stonecrest. The the Fund holds first position on the note. That puts ous at 53% loan-to-value on the purchase. After the remodel, the loan-to-value will improve greatly. This is another solid loan for the fund.
Property Types:
Past 12 months Annualized Returns:
| Month | Income Partner | Growth Partner |
|---|---|---|
| April, 2012 | 7.75% | 8.03% |
| May, 2012 | 7.75% | 8.03% |
| June, 2012 | 7.75% | 8.03% |
| July, 2012 | 7.75% | 8.03% |
| August, 2012 | 7.75% | 8.03% |
| September, 2012 | 7.75% | 8.03% |
| October, 2012 | 7.75% | 8.03% |
| November, 2012 | 7.75% | 8.03% |
| December, 2012 | 7.75% | 8.03% |
| January, 2013 | 7.75% | 8.03% |
| February, 2013 | 7.75% | 8.03% |
| March, 2013 | 7.75% | 8.03% |