Applewood Fund Management LLC is a member of the Hedge Fund Association.

Applewood Managing Member Edward Crosby currently serves on the Board of Directors of the Hedge Fund Association, a non profit association representing the Hedge Fund Industry.


Asset based mortgage investing generates high yields with limited risk to capital. Professional mortgage origination and management of the investment creates the opportunity for investors to achieve double digit returns on capital with reliable monthly distributions.

To download your FREE High Yield Mortgage Investing White Paper click HERE. This FREE primer discusses the details of high yield asset based mortgage opportunity investing.

Mortgage Funds

Applewood anticipates stabilized income to investors will exceed 10% annually over the life of National First Lending Fund I, LLLP.

Investors may choose to receive monthly distributions or reinvest.

Applewood Fund Management LLC, is an Arizona limited liability company with offices in Scottsdale, Arizona. Applewood Fund Management LLC is managed by it’s managing members. The managing members are Joel S. McDaniel with over 30 years of mortgage brokerage industry experience and Edward Crosby with over 30 years of real estate investment, development, finance and fund management experience.

Applewood Fund Management serves as the General Partner and Manager for National First Lending Fund I, LLLP ("NFL Fund I"), an Arizona limited liability limited partnership company. NFL Fund I was organized to invest up to $100 million in asset based high yield real estate mortgages being originated by Applewood Funding, Inc. a licensed mortgage broker (AZ License#MB0903207). Applewood Funding originated loans currently yield investors 12% to 14% annually paid monthly.

NFL Fund I investors will receive monthly distributions of all net cash available after fund expenses unless the investor reinvests cash flow in additional shares.

National First Lending Fund I, limited partnership interests are believed to be suitable for investment by all accredited and qualified investors including as examples high net worth individuals, insurance companies, retirement plans and investments funds.

The capital provided by sale of limited partnership interests in NFL Fund I will be invested in multiple trust deeds. Spreading investment capital over multiple mortgages and rolling over the investment from payoffs is managed to preserve the high yields provided by short-term bridge loans over an extended investment cycle.

The investment fund approach to this niche segment of the mortgage market offers long-term high yield with limited risk.

Investors considering the placement of capital in high-yield low-risk trust deed investment for a relatively longer term (up to 10 years) should contact Applewood.

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