Stonecrest
StonecrestStonecrest has been actively marketing and selling Strategic Realty Fund’s remaining assets, comprised of both non-performing loans and REO’s.
Though we have made good progress, some real estate areas of the country are experiencing a slow down in activity, with houses sitting for more days on the market before finally selling. We are in the due diligence process with a handful of buyers for our remaining non-performing note pools.
While being patient and strategic, Stonecrest’s goal is to have all remaining assets sold by the end of this year.
Featured Asset:
Our featured property this quarter is a 1,680 sqft single family, ranch-style home located at 183 West 500 North in Anderson, Indiana. Built in 1999, it has 2 bathrooms and a partially finished basement. It sits on a 7.43-acre lot.
Investment Stats (rounded):
- REO Purchase Price: $67,395
- Expenses: $36,898
- Sold Retail:$143,000
- Gross Profit: $38,707
Fund Performance:
| Performance Since Inception | ||
|---|---|---|
| Annualized Return | Final Annualized of Return to be determined at the end of the fund | |
| Wholesale/Retail Summary | ||
| Properties Sold | 491 | |
| Sales | $74,153,517 | |
| Cost | $67,483,317 | |
| Gross Profit | $6,670,200 | |
| Land Contracts Summary | ||
| Performing contracts | 10 | |
| Face Value of Notes | $236,572 | |
| Non-performing Notes Summary | ||
| Notes Sold | 311 | |
| Sales Price | $9,366,691 | |
| Cost | $6,863,075 | |
| Modified Notes Summary | ||
| Loan Modifications | 54 | |
| Mortgage Balance | $1,966,742 | |