As we mentioned last quarter, we made the strategic decision to resolve the rest of our assets and sell for maximum (or higher) profits rather than liquidating them at a discount. During the first quarter of 2015, we were able to sell or dispose of a number of low valued assets. We’ve also finished the eviction process and foreclosures on some of our higher valued assets, and those properties will now be remodeled and/or listed for sale. The proceeds from the low value assets were not significant, so those distributions will be going out after the end of the second quarter when some of the higher valued assets have traded.
With the distribution in the 2014 fourth quarter, we returned all of our investors’ original capital and part of the profit earned in the fund. In the fourth quarter newsletter, we reported that we returned 70% of the investors’ capital account balance. In fact, we have returned, on average, 76.2%. The newsletter should have said “over” 70%.
We have not been re-investing capital into the fund for some time and will continue to dispose of our remaining assets through 2015.
We have not been re-investing capital into the fund for some time and will continue to dispose of our remaining assets through 2015.
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Featured Asset:
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Fund Performance:
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