Lunar is coming off the successful retail sale of 292 Beechwood Drive Union NJ. A property we paid $140,000.00 for in May 2015 and simply cleaned out and resold for $190,000.00. Best of all the fund got a $19,000.00 return on a $33,000.00 investments as private investors put in the bulk of the purchase price. The private investors we paid 12% (annual) on their investment and are ready for the next round of purchases.
I have promised to purchase 5 assets between now and the end of the year. I have 3 under contract and these present great upward opportunity. Of course on Real Estate owned I secure a 12% mortgage and on notes I am giving 15% annual returns. I have NEVER missed a payment to my investors and have NEVER failed to make the return.
I have a hard money lender who is now lending at 10% a year so the market is being flooded by funds that will finance this type of real estate. I owe my very existence to my investors so my 12% to 14% return is a reflection of your commitment to me and my commitment to you.
I am still looking for a few good properties but in order to survive and grown I must attract new investors. We are passing up on too much when our fund gets tied up and by the fund I mean my getting caught long term on property and cash poor on liquid assets. There is no reason we cannot profit as a fund even if we bring on outside investors.
I did add some interested investors onto this email chain in hopes that they will commit to invest. I want a constant 5-8 properties under way to keep things rolling.
I also know some of you are moving money around to get positioned to invest so let me know who has any interest in these properties. Lunar is doing them however there is opportunity to invest at all stages.