$300,000 Residential owner occupied loan to a Canadian couple moving to Texas. They needed this short term loan to allow them time to establish their residency in Texas and build lines of credit that are picked up by the US credit reporting agencies. Once they have financially established themselves in the States they will easily refinance their home into a conventional mortgage.

$1MM Commercial loan to rehab a small strip center in Austin.

$200,000 residential construction loan to help an Austin area builder. His lender stopped funding his project after he poured the foundation. We rescued the project by providing funds to complete the home so that the builder can get it sold.

$80,000 residential construction loan in Bastrop for a new home builder. He owned the lot and covered the soft cost himself.

Americans have some $20 TRILLION on deposit in exceptionally low interest bearing accounts in the Mega Banks, the smaller Regional Banks and Credit Unions. Unfortunately a large portion of that $20 Trillion is on deposit in the Mega Banks. If Americans were true patriots; if Americans were determined to put their savings account to work rebuilding America; if Americans cared about future generations then they would be closing their accounts in the Mega Banks and moving them to the Regional Banks and Credit Unions. And why, you may ask, should they do that? Because the Regional Banks and Credit Unions care about America and her citizens and because Americans should be angry at the Mega Banks.

Take the examples set by Bank of America and Chase; these two Mega Banks took BILLIONS in TARP funds and bought banks in China and other Asian countries so that they could expand their global presence. That’s money from every single citizen taxpayer that was sent overseas so that these two mega banks could increase their positions overseas. And to reward the Americans who have deposited trillions of dollars into these banks they pay a pittance of a return and virtually turned their backs on American consumers. Go ahead – ask them for a car loan or to refinance your mortgage or to establish a line of credit for your business. The answer will be no and they will blame the economy but in reality it is because they are so drunk on depositors’ money like hogs at a feed trough shoring up their presence overseas.

Regional Banks didn’t take TARP money – they kept lending to their depositors with the deposits from their depositors. Credit Unions didn’t take TARP money – they, too, kept on lending. Americans should snub Mega Banks and move their accounts into Regional Banks and Credit Unions because they want to support America with our deposits. And these banks and credit unions will reward us with higher returns on our deposits and lower interest rates on our loans.

Personally I am earning 8 times more money at a credit union than I was at Chase. I closed my Chase cards too because it sickened me that the interest I was paying on those cards was going overseas. Of course Chase tried their best to keep them open – even offered to DOUBLE the credit limit. But enough is enough and I love America too much to have my money support their overseas expansion and their continued snubbing of America and her citizens.

Patriotic Banking – Good for America!

Pride of Austin Homes will be showcasing this newly completed custom home designed by Chase Dame and built for Dr. Phillip Caterbone.

Pride of Austin Capital Partners is offering this investor mingle so that potential investors in Pride of Austin High Yield Fund 1 can interact with current investors and clients of Pride of Austin. If you are not earning greater than a 12% annualized return on your investments then you are not investing in Pride of Austin High Yield Fund 1, LLC, a Regulation D Security filed with the SEC.

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The Texas Association of Realtors are working on numerous regulatory and legislative solutions to this affront to private-property owners, and have some good news to report. As a result of Texas Realtors championing the rights of property owners in Texas the chief regulator over the SAFE Act in Texas, the commissioner of the Texas Department of Savings and Mortgage Lending, has taken significant steps to allow Texas property owners to continue to seller finance up to five transactions in a 12-month period.

More specifically, the commissioner has delayed the implementation of the SAFE Act requirement for licensure in seller-financed transactions in Texas until August 31. This will allow Realtors more time to implement regulatory and legislative changes during the coming months. For now it is important to know that the long-standing law of allowing a Texas seller to finance up to five transactions in a consecutive 12-month period is still in effect and the Texas Association of REALTORS® will continue to work at the federal and state level to see that this is a permanent solution.

Thank a Texas Realtor for working to correct this abuse to private-property owners in Texas.

If you offer seller financing for 1 to 4 family residential properties then you must be a licensed as a residential mortgage originator. The only exclusion to this is if you are carrying owner financing on the sale of your primary residence or you have sold the property to a family member. This law does not affect investors that offer seller financing for land or for commercial properties.

You can bypass this requirement altogether along with the headache of obtaining your mortgage license and handling servicing of the note by sending your buyers to us for financing. Then as an investor invest your profits into our security and spread your risk over all of the assets owned by the security.

Contact us for more details.

Condo and town home sales increased 63% from April 2009. The pending sales at the end of the month are 70% higher than the previous year. The median price for condos and town homes are about $30,000 less than for single family homes.

Austin is vibrant – buyers are feeling good about their purchases – it is a great time to jump in the market if you are a rehab contractor. It’s an even better time to invest in Austin real estate. The least risky of real estate investing is via first deed trust investing into a managed Regulation D Security. Want to earn 12% or better on your money? Contact Pride of Austin Capital Partners!

Responsibilities would include building relationships with current investors, seeking new investors, working with investor leads provided by POACP, communicating with investors about loans being considered for funding, and general promotion of the fund and the management company.

We are seeking a qualified candidate to manage the capital markets group and build a team of aggressive and motivated professionals. We also have entry level positions that are perfect for a graduate student seeking an internship or a recent graduate seeking a career in investor relations for a private equity lender. Although we are located in Austin, Texas telecommuting is acceptable.

Please submit your resume for consideration.

March sales of single family homes increased by 27% over March of 2009 and condo sales increased by 129% over the same period. Even more important is that the median sales price in March 2010 was $180,000, which is the same median sales price from March 2009. Price stability is just as important as volume in determing the health of a particular real estate market. Also important to note is that the total days on the market was 16% less on average than that same period in 2009.

A large part of it could easily be the Tax Credit program. Even though condos are attractive to many first time homebuyers there were a large number of condos sold to empty nesters as well as to parents buying a second home as housing for their student attending one of the area universities. With the stable rental market in Austin seeing increased rental rates it makes economic sense for parents to buy a condo as opposed to rented an apartment.

Signs are still pointing to a Seller’s market in 2011 as demographers are predicting a housing shortage in Austin as more jobs are created and more people move to Austin. Pride of Austin Capital Partners stands ready to help alleviate the housing shortage by lending on rehab construction projects turning the homes in the city’s core to quality, energy efficient homes.

Investors take note: With this kind of activity on the horizon and based upon our healthy returns to investors in 2009 and Q1 2010 now is the time to invest in Pride of Austin High Yield Fund 1! Send an inquiry for details.