REO Properties for the Benefit of
Homebuyers & Fund Investors
REO’s (Real Estate Owned) are foreclosed properties owned by banks and other lenders. The majority of these properties are located in inner city and rural settings and many are in need of some repair. The banks sell these properties in bulk at a fraction of their real value in order to quickly recoup some of their losses.
On behalf of its investors, Stonecrest purchases these properties from banks and other institutional sources for its REO Investment Portfolio and resells them to qualified purchasers. We target properties with the potential to achieve a pretax total annualized return of 20%-30%. At the end of the portfolio’s term, the portfolio’s assets will be liquidated and distributed.
Our goals with Stonecrest’s REO Investment Portfolio, are:- 1.To produce an exceptional rate of return; and
- 2.To assist people who ordinarily could not qualify for or purchase a home, become property owners with little money down, paying reasonable interest rates, and with mortgage payments at or below rental levels for the same neighborhood.
For more information on the Stonecrest Income and Opportunity Fund - I, LLC, contact info@stonecrestmanagers.com.
The Real Estate Market:
Today & Tomorrow
In 2008, foreclosure filings were up 81% from 2007. More than 2.3 million homeowners faced foreclosure last year and more than 860,000 properties were actually repossessed by lenders. The prediction is that the number of homes lost to foreclosure will rise this year before tapering off slightly through 2011.
In Stonecrest’s opinion, the American housing market is far from hitting bottom. Home prices across much of the country are likely to fall through late 2010, economists say, and in some markets the trend could last even longer depending on the severity of the anticipated recession.
Stonecrest’s Profile
The Stonecrest family of businesses has been involved in real estate investing and financing since 1986.
- •Stonecrest Financial has placed and/or brokered over $800 million of mortgage loans for 500 investors and approximately 90 institutions.
- •The Private Capital Fund, LLC has raised $50 million since 2007 and made approximately 200 loans with an average 9% annual return.
- •Stonecrest Properties, Inc. has purchased over 100 properties for $20 million.
- •Stonecrest Investments, LLC has purchased approximately 1,850 properties since March 2007 for approximately $6,650,000 and as of 1/09 has resold them for approximately $12.5 million.
