QUARTERLY UPDATE - 2017 Q3

October 2017

Dear Rubicon Investor:

Rubicon Mortgage Fund, LLC is pleased to announce that investors who reinvested this quarter received a total compounded return of 6.7%. Management is proud to report to their investors that the Fund has made money each month since the fund opened in 2008.

Quarter in Review

The Fund made fourteen new loans totaling approximately $13,500,000 this quarter; most funded in June. We received payoffs from fourteen current loans with principal amounts totaling just under $8,100,000. The Fund also received approximately $2,400,000 in investment contributions.

You may have noticed that this past quarter’s rate of return was higher than last quarter. The primary reason for the higher return is that the Fund was holding less cash. Once again patience paid off, good loans came our way, and in the end, we have the portfolio we desire. Our primary goal is always to maintain a quality loan portfolio. Eighty of our eighty-one loans are in good standing and paid current.

Foreclosure

As mentioned in our prior quarterly letters, we did file a Notice of Default on a small duplex property in Concord. As predicted we were paid off in full and collected all of the accrued regular and default interest. We have no other properties currently with a notice of default status.

Outlook for Next Six Months

We continue to expect similar returns for the rest of the year and early next quarter. We continue to anticipate rates increasing but how much and when seems to be a complex and not so straight-forward outlook. We do anticipate a busy 4th quarter and given our cash position we will be seeking more capital. Should you want to open an account or add to an existing one please contact us.

Holiday Party Reminder

All our investors will be invited to our annual Holiday Party. It will be held at Orinda Country Club on December 14th at 5:30pm.

As always, contact us directly with any questions or comments.

Sincerely,
Rubicon Realty Advisors, Inc., Manager

 

Transparency: Please note that every investor in the Fund receives monthly account statements either electronically or via hard copy. All investors also receive quarterly updates from the manager (like this one), and a copy of the Fund’s annual audit. All of the audits, in addition to the quarterly updates, are posted online on our website. If you did not receive a document, or wish to go back and review them, please contact us, or visit the website. If you have registered for monthly distributions, you should be receiving either an ACH deposited directly into your bank account or a check sent to your mailing address. Finally, all investors should be receiving an email electronic “blast” or message every time a loan is funded. We want you to see where your money is being invested! If you miss the “blast” you can go on our website and see our blog posted online.