SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934


        Date of Report (Date of earliest event reported): August 29, 2005
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                            BellaVista Capital, Inc.
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             (Exact name of registrant as specified in its charter)


         Maryland                    0-30507                     94-3324992
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 (State or other jurisdiction     (Commission                 (IRS Employer
       of incorporation)           File Number)              Identification No.)


               420 Florence Street, Suite 200, Palo Alto, CA   94301
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               (Address of principal executive offices)      (Zip Code)


       Registrant's telephone number, including area code: (650) 328-3060
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                                       N/A
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          (Former name or former address, if changed since last report)




Item 7.01  Regulation FD Disclosure.

On  August 29, 2005,  the  registrant  mailed a  letter  dated  August 29, 2005,
to its shareholders.  A copy of the letter is attached to this report as Exhibit
20.1.

The  letter  attached to  this report  as Exhibit 20.1  contains forward-looking
statements.  All  statements  other than  statements of  historical  fact may be
forward-looking statements.  These include statements regarding the registrant's
future financial results,  operating  results,  business  strategies,  projected
costs and capital expenditures,  products,  competitive positions, and plans and
objectives of management for future operations.  Forward-looking  statements may
be identified  by the use of words such as "may,"  "will,"  "should,"  "expect,"
"plan," anticipate,"  "believe," "estimate," "predict," "intend" and "continue,"
or the negative of these terms,  and include the assumptions  that underlie such
statements.  The registrant's  actual results could differ materially from those
expressed or implied in these forward-looking  statements as a result of various
risks and  uncertainties,  including  those set forth in the  registrant's  most
recent annual report on Form 10-K in the section entitled "Item 7:  Management's
Discussion  and  Analysis of  Financial  Condition  and Results of  Operations -
General Risks Related to Construction  Mortgage  Lending" and " - Specific Risks
of Investment in Our Securities." All  forward-looking  statements in the letter
attached to this report are based on information  available to the registrant as
of the date hereof and the  registrant  assumes no obligation to update any such
statements.

Item 9.01.  Financial Statements and Exhibits


Exhibit 20.1      Letter to Shareholders dated August 29, 2005

SIGNATURES

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned thereunto duly authorized.

Dated:   August 29, 2005           BellaVista Capital, Inc.



                                   By:  /s/ MICHAEL RIDER
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                                        Michael Rider, Chief Executive Officer