Pride Of Austin » Fund

Our Investors Love Us!

David — Fri, 20 Jan 2012 21:31:44 +0000

And here’s why by the numbers…

18.5% Annualized Return paid out for the 4th Quarter of 2011
17.6% Yield paid out for 2011
15.93% Historical Yield since inception (December 2008)

New Residential Construction Loan Funded

David — Sat, 31 Dec 2011 16:50:32 +0000

The last loan funded for 2011 was a residential new construction loan for a home to be built in East Austin. Pride of Austin does make construction loans for ground up counstruction, additions to existing homes and rehab lending on 1 to 4 family properties.

Medical Office Building Funded

David — Wed, 21 Dec 2011 20:31:39 +0000

Pride of Austin funded a construction loan for a 12,000 SF Medical Office Building to be built in Fulshear, Texas. This is the second phase of a Medical Office Park. The first phase is 100% pre-leased and prospective tenants are already inquiring about the second phase even though ground has not yet broken. We are pleased to be involved with bringing a Class A Medical Office Park to the residents of Fulshear.

The Medical Office Park is being developed by a Texas Company, Australtex. The owners of the property are two Texas companies owned by a group of people in Australia. We have enjoyed working with a the group of investors from Australia and look forward to building a long-standing relationship with them.

Achieving a Higher Standard

David — Wed, 23 Nov 2011 03:23:20 +0000

Recently Robert Buchanan and David Owen completed a series of courses and earned the Certified Private Lender Associate (CPLA) designation. The American Association of Private Lender (AAPL) is the national organization representing the private real estate lending industry. It is committed to servicing as a catalyst for growth by fostering awareness, promoting best practices, and enforcing a code of ethics. It’s principles – excellence, ethics, and education – are the cornerstone for success in the industry. AAPL members are leaders in the industry and embody the character, dedication, and experience critical for success.

AAPL has developed the CPLA Certification Program which is designed to provide a comprehensive overview of the principles and the federal laws and regulations surrounding private real estate lending. CPLA Certification is the first step toward achieving a professional designation with AAPL, and is a pre-requisite for achieving CCPL (Certified Commercial Private Lender), CRPL (Certified Residential Private Lender), and CPLFM (Certified Private Lender Fund Manager) professional designations. Pride of Austin is proud of our fund managers for achieving this designation as there were less than 20 lenders in the nation participating in this course.

AAPL is working on an accreditation program that would be an exhaustive audit of the accounting, policies and procedures of a fund and how it is managed. Once it is launched Rob and David will work toward achieving and maintaining that accreditation. All of us are committed to making Pride of Austin High Yield Fund one of the premier funds in America.

Are You Getting This Level of Return on Your Investments?

David — Mon, 10 Oct 2011 14:10:40 +0000

19.3% Annualized Yield

That’s the return the investors in Pride of Austin High Yield Fund made on their investments the 3rd Quarter of 2011. Review your statements from your investment portfolio, 401K Plan and IRA plans. If you are not earning a high return then perhaps you should be adding an investment into Pride of Austin High Yield Fund into your portfolio.

Call us or email us and let’s discuss your investment strategy.

We also facilitate loans against your portfolios, self-directed IRA’s and 401K Plan Rollovers into self-directed for investors wanting to add an investment in Pride of Austin High Yield Fund into their over-all portfolio.

September Closings Totaled $3,180,000

David — Tue, 27 Sep 2011 19:51:57 +0000

Pride of Austin Capital Partners closed 4 loans in September totaling $3,180,000.
Residential Rehab Loan in Vidor, TX
Residential New Construction Loan in Austin, TX
Commercial Retail Center Rehab Loan in Austin, TX
Commercial Medical Office Park New Construction Loan in Fulshear, TX

The interest rate on all 4 loans is 14% with terms of 12 months to 18 months.

Currently there are $2,725,000 in loans being underwritten for a 4th quarter closing. Pride of Austin Capital Partners is accepting additional loan submissions for closing in October and November.

Residential New Construction Loan Funded in Austin

David — Thu, 15 Sep 2011 22:29:53 +0000

Pride of Austin High Yield Fund closed and funded on a new construction loan for a single family residence of approximately 2000 SF to be built in East Austin at 1308 Walnut Avenue. More and more banks are telling builders NO to new projects. Private lenders are saying YES if the project is a good one and the builder has capital in the project along with the loan proceeds from the private lender.

1308 Walnut is just a few minutes east of downtown Austin and just a few blocks away from a MetroRail Station.

Rehab Commercial Loan Funded in Austin

David — Tue, 13 Sep 2011 18:52:07 +0000

Pride of Austin High Yield Fund 1, LLC has closed and funded on a $1.1MM rehab construction loan on a retail center located at 7400 Cameron Road in Austin, TX. The retail spaces are 100% leased. The tenant mix for the 12,000 SF center will be a Restuarant-Sports Cafe, a Meat Market-Convenience Store, a Beauty Salon and a Hat Shop. The owner of the retail center is a long time Austin resident and a retired educator from the Austin ISD. We are proud that we are able to help the owner revitalize this area of Austin with tenants that will service the needs of the community. We anticipate that the construction will be completed and the tenants will be open for business in about 4 months.

SFR Rehab Loan Funded

David — Sat, 03 Sep 2011 19:01:38 +0000

We are always willing to consider rehab lending on 1 to 4 family residences regardless of the loan amount and where the property is located so long as it is within a 300 mile radius of Austin. We funded a loan on a SFR property in Vidor, TX (outside of Beaumont). This fix and flip should be a quick sale as the borrower also owns a real estate company and mortgage company in that area of Texas.

If you need financing on a residential rehab project please send us a summary.

A Letter to Our Investors

David — Thu, 01 Sep 2011 02:57:29 +0000

Recently a loan was paid off in the portfolio. It was not a glamorous loan but it was a meaningful one at the very least. Our borrower inherited a home from his grandfather in the Huntsville, TX area. The borrower is a hard working employee at Bush International Airport in Houston. He wanted to borrow $30K to remodel the home he inherited but was turned down by banks (they aren’t lending anyway) and by other hard money lenders (because the loan size was too small).

Rob and I decided to process and underwrite a loan for him as the amount he requested was 32% of the ARV and because the borrower is very sincere and appreciative. Sometimes it is nice to do the right thing and help someone out with a loan when no one else will even consider it. They won’t consider it because it is too small, or because the borrower does not make a huge amount of money or has a large net worth. But small loans help America just as much as large loans. And when a small loan makes sense and the borrower can demonstrate the ability to make the interest payments we will consider it. Believe me, Rob and I underwrote this loan as diligently as any other loan and it passed muster!

So be proud that as investors you helped a young man make a nice windfall when no one else would give him a chance. He did exactly what he said he would do. He was never late on any of his interest payments. His contractor did a super job on the remodeling (and Rob checked every stage of the work in person). His loan was paid off before it matured. And he sold the home for more than our appraiser appraised it for!

In this time when Wall Street is acting like gluttonous, self-serving hogs at the feed trough only expressing interest in helping themselves and wealthy entities make more money and their pervasive attitude trickling down through the financial system we should be proud that collectively we made a nice yield while giving a chance to someone that no one else would help so that he, too, could make a little windfall for his family.

I am proud of this loan and I am proud of all of you! This is what America should be about; people helping people and still making a nice return!

Thank you for your confidence in Pride of Austin High Yield Fund 1. It is growing nicely and our portfolio is still very solidly performing.

I wish all of you a very safe and fun holiday weekend!

Regards,