The Juniper Residential Fund document provides an overview and update on a real estate investment fund operated by the Cypress Group. The fund buys undervalued single-family homes in Santa Clara County, renovates them, and rents or sells them for a targeted 15-25% return. To date the fund has purchased 5 homes for $1.2 million and had them appraised at $1.65 million, a 27.5% average profit. Going forward, the fund plans to buy 10-20 more homes using equity and private financing.