As of 9/30/17:
- Year-to-date annualized return: 7.67%
- Number of loans: 147
- Gross loan portfolio dollars: $96,429,936 (74.90% in 1st and 25.10% in 2nd position)
- Average loan-to-value: 52.36%*
- Average loan amount:$655,986*
*calculated when loans are initially funded
Our featured property this quarter is located at 2763 Buena Point Court, in San Jose, This condo unit is 2 stories, has 3 bedrooms, 2 bathrooms, and is 1216sqft. It has a covered balcony, an open patio, a fireplace, and a double car garage. It is part of a 360-unit development, which features a playground and pool, and is located in the Evergreen area of San Jose.
Our borrower is in the real estate business and is an active investor. She has accumulated various properties over time and owned this property free and clear. She wanted a $400k line of credit from Stonecrest in order to take advantage of further real estate opportunities. She is a past client of ours and has a good track record. We gave her the credit line in first position on the property, which was appraised at $665k. This put us at a 60% loan to value – another great addition to the fund!
Past 12 months Annualized Returns:
|Month||Income Partner||Growth Partner|