Real Estate Growth Fund’s second quarter was particularly busy on the acquisition side of the business. We benefited from one seller who reduced prices and accepted lower offers in order to close out their quarter strong.
REGF acquired 63 properties throughout the country with the vast majority being vacant, single family homes. We also started to increase the usage of our Line of Credit product, which will help with the fund’s overall long term return. Our team has worked closely with our lending institution on their process flow in order to streamline funding of these transactions.
Our direct-to-consumer division has increased their marketing activities and hired another individual to work in the diligence department. The enhanced marketing outreach has created more interest in our properties. As a result, we are experiencing an increase in the number of sales contracts.
Featured Asset:
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Our featured property is located at 68 Kilmer Ave., in Taunton, Massachusetts. It is a single family 1,408 sqft home with 2 bedrooms and 2 bathrooms. The property was built in 1900 on a lot sized at .35 acres.
Investment Stats (rounded):
- REO Purchase Price: $117,265
- Expenses: $17,130
- Sold Retail:$159,900
- Gross Profit: $25,505
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Fund Performance:
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