The fourth quarter was an active one for Stonecrest’s Capital Income & Growth Fund, with both the acquisition and sales departments involved in multiple trades. The national market for real estate sales overall is still good and we were able to sell eighty six properties. Most of these properties needed some rehabilitation, which opens the market to buyers who need bank financing, which, in turn, increases our buyer pool. One of our business strategies on the non-performing note side of the business has been to modify loans where the borrower can demonstrate an ability to pay moving forward, and then selling those modified loans to third party investment companies looking for yield. We were able to trade forty seven of our modified loans for a healthy profit.
We have also added staff to our due diligence department. This added personnel will focus on analyzing title reports and review property taxes owing, if any. This allows us to 1) avoid undesirable properties that may not sell quickly or for much profit, and 2) at the same time, take advantage of opportunities that our competitors may have missed. It’s a win/win approach, we think.
Performance Statistics
Total Fund Annualized Return Since Inception: 26.94%
Featured Asset:
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Our featured property this quarter is a 4-bedroom, 1-bathroom, 1,308 sqft single family home built in 1985 and located at 702 George Kesh Drive, Jackson, Mississippi. Investment Stats (rounded):
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Fund Performance:
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