As of 6/30/14 :
- Second quarter average return: 7.75%
- Year-to-date annualized return: 7.75%
- Number of loans: 80
- Gross loan portfolio dollars: $20,203,109(84% in 1st and 16% in 2nd position)
- Average loan-to-value: 47.80%*
- Average loan amount: $252,539
*calculated when loans are initially funded
Featured Asset:This 1,546 sqft one-story, single family home has 3 bedrooms and 2 bathrooms. The property was built in 1954 and sits on a 4,791 sqft lot. It is in a good area, on a quiet street, and has a great city view.
This borrowing entity has had multiple loans from us over the past several years and has been a great borrower. Their principals have strong credit profiles and provide us with personal guaranties. They find real estate deals to fix and flip in the southern California coastal market. They have been very successful and have come to like our line of credit product’s flexibility. They purchase properties for all cash and, periodically, they request a line of credit from us to bridge the gap while other properties they have completed are sold. They purchased the subject property for $850k all cash, and we provided a $500k line of credit in 1st position on it. They will use the line to improve the property and further increase its value. As-is, we are still at a comfortable 58.82% loan-to-value. Another solid loan for the fund!
Past 12 months Annualized Returns:
|Month||Income Partner||Growth Partner|