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CALCAP Connections                             July 2018

CALCAP Income Fund I Update
The CALCAP Income Fund is now approaching $30mm in assets. We wanted to share with you the current composition of loans in the portfolio. People often think that private money loans are of "lesser quality" than conventional loans. As you can see from the chart below, that is quite the contrary. In fact, the credit characteristics in the CCIF are far superior to FHA or Subprime loans.
The Fund currently has a weighted average LTV of 62%, and a weighted average credit score of 732.  The Fund is unleveraged and has been yielding a 7% return to investors since inception. With the credit characteristics below, we think that is a pretty attractive risk adjusted return. If you would like to learn more, please contact us.
Edward M. Aloe
President and CEO
Latest Headlines...
More young families opt to rent instead of buy
Likely influenced by rising home prices, tough lending rules and a lack of entry-level homes, the number of families with minor children that owned a home decreased by 3.6 million during this time, while rentals for this group increased by 1.9 million.
Using data from the U.S. Census Bureau , RENTCafĂ© noted that during this 10-year period, the number of families with children living in rentals increased by 16%, while homeownership rates for the same demographic fell 14%.  
View Article Here  
Rent just jumped to an all-time high
According to the report, rent increases occurred in nearly all of the nation's largest cities. Per the report, rents rose in 88% of the nation's largest 250 cities in June when compared to last year. Rents remained the same in 10% of the top 250 cities and dropped in just 2% of them.
Case-Shiller: Home prices continue upward trend

"Looking back to the peak of the boom in 2006, 10 of the 20 cities tracked by the indices are higher than their peaks; the other 10 are below their high points. The National Index is also above its previous all-time high, the 20-city index slightly up versus its peak, and the 10-city is a bit below," Blitzer said. However, if one adjusts the price movements for inflation since 2006, a very different picture emerges. Only three cities - Dallas, Denver and Seattle - are ahead in real, or inflation-adjusted, terms. The National Index is 14% below its boom-time peak and Las Vegas, the city with the longest road to a new high, is 47% below its peak when inflation is factored in."
On the lighter side....

California Capital Real Estate Advisors, Inc. (CALCAP) is a real estate investment and advisory firm.  Partnering with businesses, asset managers, developers and communities we reposition distressed real estate, and provide liquidity, adding value for our stakeholders and the communities we serve.  
We are proud of our ability to identify opportunities and to move quickly in adding value to a diversity of projects. Through our experience, extensive network and creative problem-solving skills we have established a strong record of success.

CALCAP's work includes the acquisition of distressed residential and commercial properties and debt; the repositioning of real estate; asset management; real estate brokerage; consulting; and real estate financing services.

The Sanborn House
65 N. Catalina Avenue   
Pasadena, CA 91106
Edward M. Aloe, President & CEO
(626) 229-9057

Mark A. Mozilo, Principal
(626) 229-9056

12626 High Bluff Drive, Suite 360
San Diego, CA 92130 
Patrick A. Wakeman, Principal
(858) 764-4890

4747 North 7th Street Suite 170
Phoenix, AZ 85014
Drew Buccino, COO
(602) 419-3381

1309 State Street Suite A
Santa Barbara, CA 93101
Greg Blix
Director of Investor Relations
(805) 896-8500

2603 Main Street, Suite 850
Irvine, CA 92614
Len Israel

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