Overall, sales in the real estate market were slow during the first quarter of this year. The winter season is traditionally a time of slower real estate activity. However, in March, the Federal Reserve
mentioned there would be no rate increases for the rest of 2019. This was good news, which may positively impact the spring and summer seasons.
The number of houses sold in the Real Estate Growth Fund was down for the quarter, though we have been active with remodeling many properties and pushing to get them ready for the spring/
summer market. In fact, we just read that the index of pending homes sales surged in March, which is encouraging.
We continue to source properties from auction companies as well as going directly to banks. We have also expanded our consumer direct marketing campaigns.
Featured Asset:
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Our featured property this quarter is a single family home located at 303 West Volant Street in Hubert, North Carolina. Built in 1958, it has 3 bedrooms and 2 bathrooms. It sits on a 0.46
acre lot.
Investment Stats (rounded):
- REO Purchase Price: $85,934
- Expenses: $58,275
- Sold Retail:$135,000
- Gross Profit: $17,791
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Fund Performance:
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