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The Opportunity Fund is a collaborative effort between Bayou City Exploration, Inc., Blue Ridge Group, Inc. of Bowling Green, Kentucky and Home Servicing, LLC (HSLLC) of Baton Rouge, Louisiana. The fund seeks to provide partners with aggressive returns via investment in mortgage notes and land contracts purchased at significant discounts to existing balances.
Our objective is to liquidate the fund no less than five years from the close of the subscription period and distribute to the partners.
Fund Description
The BYCX Opportunity Fund I, LLC (“BYCX Fund I” or the “Fund”) seeks to provide investors with a high level of quarterly income. The Fund will endeavor to achieve this objective by investing in a managed portfolio comprised of Mortgage Notes and Land Contracts secured by real estate. The loans we purchase represent the fallout from the housing crisis and the solution to it. Almost every loan we purchase is the result of a loan modification with principal reduction. HSLLC has proven that successful modifications address the affordabitlity of payments and the issue of negative equity. Our Funds invest your money in success.
Bayou City has executed a management contract with Blue Ridge Group, Inc. (“Blue Ridge”) wherein Blue Ridge agrees to serve as the investment manager for the Fund. Blue Ridge established the initial opportunity fund (“Fund I”) as a Delaware limited liability company in June of 2008. In September, 2008 the investment manager began purchasing performing mortgage loans and land contracts primarily from Home Servicing, LLC (HSLLC). Fund I currently holds over 134 mortgage loans or land contracts with unpaid balances totaling over $4,250,000.00. Fund I was established to compliment oil and gas drilling programs as a “safety net” or hedge against the risk associated with oil and gas drilling. Fund I has maintained an average annual rate of return in excess of 14% through its first 36 months of operation.
Opportunity Fund(s) II, III, IV, and V (“Funds II-V”) were established as Delaware Limited Liability Companies in October of 2008, January of 2010, July of 2010 and January of 2011, respectively. Unlike Fund I, Funds II-V were established as “stand alone” investment vehicles used independently of, and to compliment oil and gas programs. As is the case with the aforementioned Funds, all loans will be serviced by Home Servicing, LLC of Baton Rouge, Louisiana. Quarterly distributions to investors holding units in BYCX Fund I will be the responsibility of an experienced Bayou City staff.
The pages that follow provide detailed information regarding the contents and performance of Opportunity Funds I-IV. The BYCX Opportunity Fund I offered herein employs the same successful model, investment manager and loan servicer as Funds I-IV. We are pleased to offer this unique strategy to our investing partners.
* Your money is used to purchase performing mortgage loans at a discount to the principal balance owed.
* The loans purchased are owned by the Fund in which you are an investing member.
* Payments from borrowers are collected each month by HSLLC and passed through to you on a quarterly basis.
* No later than 5 years after the Fund is closed to subscriptions, all loan assets will be sold and the proceeds thereof will be distributed to you .
* This return of capital will complete the cycle and the Fund will be closed.
Click below to view information on the assets held in each fund.
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