As of 3/31/14 :
- First quarter average return: 7.75%
- Year-to-date annualized return: 7.75%
- Number of loans: 67
- Gross loan portfolio dollars: $16,928,981 (91.98% in 1st and 8.02% in 2nd position)
- Average loan-to-value: 48.12%*
- Average loan amount: $252,671
*calculated when loans are initially funded
Featured Asset:Our featured property this quarter is located at 22 Engle Road, in San Mateo, California. This 1,181 sqft, one-story, single family home has 2 bedrooms and 1 bathroom. The property was built in 1925 and sits on a 3,800 sqft lot. It has refinished hardwood floors throughout and a wood burning fireplace in the living room.
Our borrower is in the business of flipping homes that he purchases below market value. He wanted to use his own home to establish a business line of credit in order to purchase more properties to flip for a profit. He owned his home free and clear of any liens, and it’s located in a great area. Our valuation showed it to be worth $875k. The fund provided a $500k business line of credit at 57% loan-to-value in 1st position against his home.
Past 12 months Annualized Returns:
|Month||Income Partner||Growth Partner|