March 25, 2009 Newsletter For Fund I
March 25, 2009
Dear Fund I Investor:
For the most part all is well at our 2 properties with nothing major to report. I am sticking to my conservative approach to distribution payments and will monitor things on a month-to-month basis as to whether or not I am going to increase the distribution amount.
The state of the economy is a big question mark as the markets have bounced considerably over the last couple of weeks while during that same timeframe the dollar has become significantly weaker. My opinion is that with all this money that the President has committed to in his American Recovery and Reinvestment Tax Act that serious inflation is inevitable. Owning real estate during inflationary periods has proven to be a good investment.
Income for the month of March was $23,630.94 while our mortgage expense was $9,239.67 and our utility expense was $238.65. I am distributing $1,750 x 90% = $1,575 รท 15 = $105/unit.
As always, should you have any questions with regard to your investment please do not hesitate to contact me at (310) 858-0660 or Billy@fpmrealty.com
Yours truly,
FORWARD PROGRESS MANAGEMENT REAL ESTATE, INC.
Manager for the FPM Family of Real Estate Investment Funds
Billy Ruvelson
President
