Mar 12, 2018
One of the most impressive sponsors I've invested with (I've invested in well over a dozen private real estate funds). Stephen Seal is extremely patient and detailed in his communication with answering investor questions; I've witnessed it on conf calls and in forums where he is able to answer the most obscure questions. In addition the fund is a mixture of tax liens, affordable single family homes for rent, and vacant land, all with no leverage. A unique combo that I have not seen in other funds. The best part for me is no leverage as it increases the odds that it will weather the next economic downturn and not be at the mercy of the banks (who lends you the umbrella on a sunny day and tends to take your umbrella away when it rains). I don't worry much about this fund..