Gentry Stambaugh

Las Vegas, NV (USA)
Role(s):
Manager/Supervisor

55 Capital Group

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Location: Las Vegas
Industry: Real Estate
Year Founded: 2010
Number Employees: 1-10 people
Business Stage: Growth (not profitable)
Entity Type: Limited Liability Company
Description: Hershiser Strategic Residential Fund 1 LLC (“HSRF 1”) is a $10,000,000 fund formed on July 7, 2010 as a Nevada limited liability company to primarily invest in entities, which may be subsidiaries of HSRF 1, and other companies that acquire, repair, rehabilitate, improve, manage, and sell or otherwise dispose of residential (one to four family unit) or commercial real estate properties, that are purchased at foreclosure sales or by other means approved by the Manager of HSRF 1. HSRF 1 intends to acquire properties, initially solely through Strategic Acquisitions, Inc. (“SAI”) in Los Angeles and Ventura Counties, California, at foreclosure auctions that match the long established acquisition criteria of SAI. Although HSRF 1 intends to initially acquire properties exclusively through SAI, HSRF 1 intends to seek additional investment partners throughout the United States in the future to attempt to take advantage of attractive investment opportunities. Once acquired, assets are reconditioned or rehabilitated and sold by SAI. Properties will be titled under the name of HRF-SAI 1, LLC, a wholly owned subsidiary of HSRF 1. The Fund’s acquisition strategy is to target properties that can be acquired at prices equal to approximately 65-75% of the properties’ estimated current fair market value. The Manager estimates that the entire process from acquisition to rehabilitation to resale of properties will take an average of approximately 3 to 5 months to complete. Based on this estimated time frame, it is expected that investment funds can be deployed from 2 to 3 times per year, which could enhance liquidity for HSRF 1. Strategic Acquisitions Inc. Founder, Peter Baer, started investing in the Real Estate industry over 27 years ago and through this time has developed a system that enhances their ability to acquire favorable investment opportunities in an ever changing market. Some of the expenses incurred by Strategic Acquisitions Inc., after the initial property acquisition include, but are not limited to; rehabilitation expenses, real estate commissions, escrow fees, real estate taxes, utilities, or any other out-of-pocket expenses incurred in the process, which will be paid to the relevant parties prior to any disbursement of funds to HSRF 1.