When we started the Stonecrest Income & Opportunity Fund in 2009, we believed that the window to purchase distressed real estate assets would last approximately five or six years.
However, we now believe that the opportunity to purchase these types of assets will exist for many years to come and, with that in mind, we have established the Capital Income and Growth Fund and the Strategic Realty Fund to take advantage of this market segment. We will continue to set up new funds as the need arises.
As for SIOF, we have been diligently finishing our foreclosures, evictions, and remodeling, and have been selling assets continuously. We are scheduled to complete all transactions by the end of the fourth quarter with the final distribution scheduled for January 2016.
|Our featured property this quarter is a 800 sqft 2-bedroom, 1-bathroom, single family home built in 1971. The lot is 8,407 sqft. It is located at 3017 Wedgedale Avenue in Durham, North Carolina.|
- Purchase Price: $9,000
- Expenses: $218
- Sales Price $14,802
- Gross Profit: $5,584
|Performance Since Inception|
|Land Contracts Summary|
|Face Value of Notes||$2,277,765|
|Non-performing Notes Summary|
|Modified Notes Summary|