--- title: March 2023 Performance Report description: Fund That Flip provides investors monthly updates on loan portfolio performance and origination volume. Read about our performance as of March 2023. image: https://learn.upright.us/hubfs/March%202023%20Performance%20Report.png --- [![Upright Real Estate Investment](https://learn.upright.us/hs-fs/hubfs/Upright_RGB_PrimaryLogo-2.png?width=175&height=42&name=Upright_RGB_PrimaryLogo-2.png "Upright Real Estate Investment")](https://upright.us/) [![Return Home >](https://no-cache.hubspot.com/cta/default/2129804/90add894-e0b2-4f0c-bc22-7c5b348dd1d7.png)](https://cta-redirect.hubspot.com/cta/redirect/2129804/90add894-e0b2-4f0c-bc22-7c5b348dd1d7) [Back to the Blog](https://learn.upright.us/real-estate-investing-blog) # March 2023 Performance Report April 25, 2023 | By [Matt Rodak, CEO and Founder](https://learn.upright.us/real-estate-investing-blog/author/matt-rodak) Since day one, we've been dedicated to industry-leading transparency into our business processes and performance. Take a look at the below updates for some new insights into our book of business, as well as what we're seeing from a macroeconomic standpoint, and how we're changing our business to reflect that.  ## March's Performance In March, we originated 152 loans, totaling more than $45.2 million in origination volume, a reflection of seasonality and other factors outlined below.  ![March 2023 performance, 152 loans, $45.2M](https://learn.upright.us/hs-fs/hubfs/23MAR-VOL.png?width=650&height=337&name=23MAR-VOL.png) Additionally, as of April 1, 9.03% of our total loan count was 30 days or more late on payments. ![March 2023 performance, 9.03% of loans are 30 or more days late on payment.](https://learn.upright.us/hs-fs/hubfs/23MAR-DEL.png?width=650&height=382&name=23MAR-DEL.png) ## A Deeper Look at Performance As you can see above, we have started showing you both the total count of delinquent loans, as well as what that translates into in terms of total dollars. This is to remain transparent on our business performance, but also to better align with the [Mortgage Bankers Association](https://www.mba.org/)'s (MBA) standard, published in its National Delinquency Survey (NDS), which is based on loan count. Additionally, the NDS states: ![quote](https://learn.upright.us/hs-fs/hubfs/quote.png?width=100&height=100&name=quote.png)The delinquency rates and foreclosure starts rate are seasonally adjusted to account for trends in the data that are caused by the time of the year. For example, delinquencies tend to increase from the first to fourth quarters, peaking in the fourth quarter, before falling in the first quarter of the next year and beginning the cycle again." The data we share in our Performance Reports is *not* seasonally adjusted, but we feel it's pertinent to explain seasonal trends when applicable. ## What's Affecting the Numbers The economic volatility affecting the real estate market is not only happening in the U.S. but globally. The performance of the stock market, labor market, and consumer price index all reflect the headlines about the national and global economy. Because of that, we're continuing to see the overall real estate market cool down from the record-breaking rates, list prices, and sale prices seen earlier in 2022, as well as 2021. And while we're all realizing that the market is shifting to a more "normal" state (similar to pre-pandemic), that doesn't mean there aren't concerns with rate, supply, and demand. Check out our blog post on [the housing market's return to "normal."](https://learn.upright.us/real-estate-investing-blog/2022-housing-market) Other things affecting the performance of our book include: - Changing availability and/or terms of capital for refinancing or end-buyer financing impacts exit timelines and monthly payments. - Real estate seasonality. The same factors causing residential real estate to slow during the holidays and winter months also affect our business. - Several high-dollar loans remain delinquent on payments (with priority on exit and repayment). - Continued supply chain issues and labor shortages contribute to construction delays and eventually, delinquencies. ## What We're Doing As always, we're actively working with our borrowers to keep their projects moving forward, on track, and current on payments. We have recently restructured the lending side of our business in order to ensure portfolio performance is our top priority. - Self-service tools to make it easier for borrowers to request draws, payoffs, and more. - Our Account Management and Sales teams work closely with each other and borrowers to ensure payments and projects are current before proceeding with new loans for the same client. - Additionally, the Account Management team works diligently to ensure as few loans as possible remain delinquent longer than 30 days.  - Updated, more efficient processes to review delinquent accounts and issue notice of default communications sooner.  Learn more about how we handle loans that are [30+ days late in an episode of Investor Insights,](https://learn.upright.us/investor-insights-episode-7-portfolio-performance-review) and how our team works to [ensure on-time payments](https://learn.upright.us/real-estate-investing-blog/more-than-99-of-principal). We believe it's best to support our borrowers to exit their loans as successfully as possible — even if delinquent or in the foreclosure process — in order to preserve principal and speed to liquidity. We're also continuing to build a strong forward pipeline even in a somewhat uncertain real estate market, remaining selective on markets to enter and what projects we fund by putting an even stronger focus on appraisals and historic performance. The Fund That Flip operational and business strategy is designed around utilizing a diverse capital stack so we're always positioned to weather market volatility and come out ahead. If you have any questions or would like to provide feedback, email us at [investorrelations@fundthatflip.com.](mailto:investorrelations@fundthatflip.com) We will respond as soon as possible. [Log in](https://www.fundthatflip.com/log_in/new) to your account here, or [start investing](https://www.fundthatflip.com/deals). [![Start Investing](https://no-cache.hubspot.com/cta/default/2129804/f0001381-dc22-4cf3-8cfc-8dff011de58d.png)](https://cta-redirect.hubspot.com/cta/redirect/2129804/f0001381-dc22-4cf3-8cfc-8dff011de58d) - - - ### Returns up to 13% investing in real estate. Diversify your portfolio with short- or long-term investments, individual or pooled fund offerings, and hundreds of developers and project types throughout the U.S. [![Sign Up](https://no-cache.hubspot.com/cta/default/2129804/9beb5019-97e3-48ab-bc90-ee874cd213ac.png)](https://cta-redirect.hubspot.com/cta/redirect/2129804/9beb5019-97e3-48ab-bc90-ee874cd213ac) ### Loan commitments in about 24 hours, with pre-approval up to $5M to make winning bids. [![Apply Now](https://no-cache.hubspot.com/cta/default/2129804/3420ff91-259d-4238-ae5b-bda78b01cff5.png)](https://cta-redirect.hubspot.com/cta/redirect/2129804/3420ff91-259d-4238-ae5b-bda78b01cff5) [![](https://learn.upright.us/hubfs/Horizon%20April%20Image.png)](https://learn.upright.us/real-estate-investing-blog/horizon-fund-overview-2025-apr) April 21, 2025 ## [Horizon Residential Income Fund I - April 2025 Update](https://learn.upright.us/real-estate-investing-blog/horizon-fund-overview-2025-apr) by [Upright](https://learn.upright.us/real-estate-investing-blog/author/upright) [![](https://learn.upright.us/hubfs/RegionalBankSqueeze_MedCrop-sm.jpg)](https://learn.upright.us/real-estate-investing-blog/squeeze-on-regional-banks) May 06, 2024 ## [Squeeze on Regional Banks Puts Pressure on New Housing Construction](https://learn.upright.us/real-estate-investing-blog/squeeze-on-regional-banks) by [Doug Dvorak, VP, Capital Markets](https://learn.upright.us/real-estate-investing-blog/author/doug-dvorak) **[Upright](https://www.upright.us/)** **1300 E. 9th Street, Ste. 800, Cleveland, OH 44114 Real Estate Investment [info@upright.us](mailto:info@upright.us) | [646-895-6090](tel:6468956090) [![Instagram](https://learn.upright.us/hs-fs/hubfs/Email_2023/mdi_instagram.png?width=29&height=29&name=mdi_instagram.png)](https://www.instagram.com/buildwith_upright/)  [![Linkedin](https://learn.upright.us/hs-fs/hubfs/Email_2023/linkedin-icon.png?width=29&height=29&name=linkedin-icon.png)](https://www.linkedin.com/company/buildwithupright/)  [![Facebook](https://learn.upright.us/hs-fs/hubfs/Email_2023/fb-icon.png?width=29&height=29&name=fb-icon.png)](https://www.facebook.com/buildwithupright)  [![TikTok](https://learn.upright.us/hs-fs/hubfs/Email_2023/tik-icon.png?width=29&height=29&name=tik-icon.png)](https://www.tiktok.com/@buildwith_upright?lang=en)  [![X Twitter](https://learn.upright.us/hs-fs/hubfs/Email_2023/x-icon.png?width=29&height=29&name=x-icon.png)](https://twitter.com/build_Upright)  [![YouTube](https://learn.upright.us/hs-fs/hubfs/Email_2023/ytb-icon.png?width=29&height=29&name=ytb-icon.png)](https://www.youtube.com/@buildwithupright)  [![Events](https://learn.upright.us/hs-fs/hubfs/Email_2023/calendar-icon.png?width=29&height=29&name=calendar-icon.png)](https://www.upright.us/events)**   Past performance is not indicative of future performance. Investors should not rely on forward-looking statements because such statements are inherently uncertain and involve risks. No returns are guaranteed and these types of investments involve a high degree of risk.   Neither the Securities and Exchange Commission (SEC) nor any federal or state securities commission, or any other regulatory authority has recommended or approved of the investment or the accuracy or inaccuracy of any of the information or materials provided by or through the website. Direct and indirect purchase of real estate property involves significant risks, including, but not limited to risk related to sale of land, market and industry risks, and risks specific to a given property. Investments are not bank deposits, are not insured by the FDIC or by any other Federal Government Agency, are not guaranteed by Fund That Flip, Inc. dba Upright, and may lose value.   Fund That Flip, Inc. dba Upright does not make investment recommendations and this message should not be construed as such. This message is not an offer to sell or the solicitation of an offer to buy any security, which can only be made through official offering documents that contain important information about risks, fees, and expenses. Any investment information contained herein has been secured from sources Fund That Flip, Inc. dba Upright believes are reliable, but we make no representations or warranties as to the accuracy of such information and accept no liability therefor. We recommend that you consult with a financial advisor, attorney, accountant, and any other professional who can help you to understand and assess the risks associated with any investment opportunity. If and when Fund That Flip, Inc. dba Upright is able to make investment opportunities available, only accredited investors who submit required verification will be able to invest.     **© Fund That Flip, Inc. dba Upright, 2024  | [Privacy Policy](https://www.upright.us/legal?tab=privacy-policy) | [General](https://www.upright.us/legal?tab=terms)[Terms of Service](https://www.upright.us/legal?tab=terms) [|](https://www.fundthatflip.com/terms-of-service) [Investment Terms of Service](https://www.upright.us/legal?tab=investment-tos)**     ![](https://www.facebook.com/tr?id=1484345195216823&ev=PageView&noscript=1) ```json { "@context" : "https://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "Matt Rodak, CEO and Founder", "url" : "https://learn.upright.us/real-estate-investing-blog/author/matt-rodak" }, "dateModified" : "2023-04-25T20:00:00.890Z", "datePublished" : "2023-04-25T20:00:00.000Z", "headline" : "March 2023 Performance Report", "image" : [ "https://learn.upright.us/hubfs/March%202023%20Performance%20Report.png" ], "mainEntityOfPage" : { "@id" : "https://learn.upright.us/real-estate-investing-blog/march-2023-performance-report", "@type" : "WebPage" }, "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://learn.upright.us/hubfs/Upright_RGB_PrimaryLogo-1.png" }, "name" : "Upright" } } ```