Stonecrest’s Strategic Realty Fund had a strong third quarter with the REO department selling 29 properties and our Asset Management team selling 13 notes and modifying 8 others. I expect SRF to also have a strong fourth quarter as many of the assets that were purchased over the last year are now on the market.

Recently, some members of our team, including our President, Jon Freeman, went to a major mortgage banking and servicing conference in Dallas.

Our networking there was very successful as we either strengthened or made new contacts at Bank of America, Wells Fargo, and multiple auction sites. One common theme during the conference was that there are still plenty of REO’s and NPN’s that the banks are holding on to. In fact, our networking efforts have already borne fruit, as we are currently bidding on a package of REO’s from Wells Fargo.

[su_title heading=”h4″ style=”thin” case=”uppercase”]Featured Asset:[/su_title]


Our featured property this quarter is a 2-bedroom, 2-bathroom, 1,957 sqft remodeled high rise condominium built in 1929. The property is located at 606 W. Wisconsin Avenue, Unit 902, in Milwaukee, Wisconsin, and is close to restaurants and nightlife, as well as a library and museum.

Investment Stats (rounded):

  • REO Purchase Price: $104,306
  • Expenses: $22,928
  • Sold Retail: $159,000
  • Gross Profit: $31,766



[su_title heading=”h4″ style=”thin” case=”uppercase”]Fund Performance:[/su_title]

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