Originate Report - June 2019

JUNE 2019 THE OFFICIAL MAGAZINE OF GERACI

Keeping the

FOCUS LOCAL Bill Fairman of Carolina Capital Management

The BEST Markets for

Rental Properties

Also Inside

June:

NEW ORLEANS

Industry Spotlight:

BaySierra Financial, Inc

Design a PERFECT

Pitch Deck

STORAGE www.originate.report 1

2 Originate Report | June 2019

contents JUNE 2019

Features

14 The Best Markets for Investors of Residential Rental Properties

12

22

Robert Greenberg, Patch of Land

16 Designing the Perfect Pitch Deck Ruby Keys, Geraci Media

18 Storage, Baby! Why Storage is Here to Stay Dan Kryzanowski, Rocket Dollar

20 Best Practices for Credit Bidding at Foreclosures Edward Brown, Pacific Private Money

Randy Newman, Total Lender Solutions

Who to Know 6 Profile

Bill Fairman of Carolina Capital Management Charles Peckman, Originate Report

12 Industry Spotlight

Robert Ritter & Stacey Robles of

14

BaySierra Financial, Inc

In Every Issue 7

Industry Job Watch

22 Cities to Watch

New Orleans, Louisiana

Charles Peckman, Originate Report

23 Upcoming Events 26 Loan Home

16 www.originate.report 3

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4 Originate Report | June 2019

CEO Geraci LLP

ANTHONY GERACI Anthony@Originate.Report Vice President Geraci Media

RUBY KEYS Ruby@Originate.Report Editorial Director

MAX BERGER Max@Originate.Report Art Director

PAM HUBER Pam Huber Designs

CONTRIBUTORS Edward Brown • Robert Greenberg Ruby Keys • Dan Kryzanowski Randy Newman • Charles Peckman

FOUNDING UNDERWRITERS

Letter from the Editor

Welcome to our June Edition of Originate Report!

“Success is not final; failure is not fatal: It is the courage to continue that counts.”

-Winston Churchill

MARK HANF President, Pacific Private Money

ORIGINATE ONLINE www.originate.report

GERACI ONLINE www.geracilawfirm.com Interested in advertising in Originate Report? Please reach out at Submissions@Originate.Report For Advertising Submissions, Article Submissions, and Inquiries contact Submissions@Originate.Report

ORIGINATE MAILING ADDRESS Geraci LLP 90 Discovery, Irvine, CA 92618 PHONE (949) 379-2600

If you’re not growing, you’re dying, as they say… You’ll find that this is a running theme with our content this month – our main features in this edition are demonstrating their ability to grow and adapt to change, never content with the status quo. Read on to learn about Bill Fairman and how he has built Carolina Capital Management into what it is today. You will also be introduced to Robert Ritter and Stacey Robles at BaySierra Financial, who are making a big impression in the real estate lending space. Their stories provide inspiration and insight for all those who seek to grow their businesses and move the needle forward.

To Your Success,

Max

Max Berger Originate Report Editorial Director

GERACI CONFERENCES www.geracicon.com

www.originate.report 5

PROFILE

F

ar-removed from the hustle and bustle of 5th Avenue and the sandy chaos of Santa Monica, sibling duo Bill Fairman and Wendy Sweet’s company Carolina Capital Management serves the financial needs of investors in North & South Carolina, Georgia, Virginia, Tennessee, and some areas of Florida.

While some firms focus on dominating the hard money field on a nation-wide level, Fairman said Carolina is content with focusing on the company’s ‘backyard,’ providing the best service possible to the clientele he knows best. Carolina’s website states that they serve real estate investors and ‘small builders,’ or those who are striving to build wealth and generate income.

Although Fairman is the first to admit that he hasn’t spent the majority of his career in the private and hard money space, he said the experience he has garnered throughout the first half-decade of Carolina Capital Management’s existence has been invaluable. Fairman also said his former job as a loan officer did prepare him for the ‘private money world,’ and he sat down with Originate Report to discuss his career, working with his sister, and future trends in the hard money space.

Originate Report (OR:) How did you get involved in the private money sphere? Were hard money loans always on your radar as a viable career path?

Bill Fairman (BF:) Well, I have a 30-year mortgage history behind me – I started off as a loan officer in a small broker shop, and then moved onto the wholesale side of the business, where I was calling on other brokerage shops. Back in ‘those days,’ whoever had the larger line of credit was the larger lender; when we started off, we didn’t have the largest line of credit. I worked for the same mortgage company for 11 years which is somewhat unheard of, and then I worked for several wholesale lenders, and my last step in that journey was working for a small balance commercial wholesale lender, and that was right before the Stock Market crash of 2008-9. Before the crash when I was working for that wholesaler, we would hold half-day seminars on how to underwrite or originate commercial loans so they could utilize that additional revenue stream; we still do that today at Carolina Capital Management.

Bill Fairman of Carolina Capital Management Keeps the Focus Local

By Charles Peckman, Originate Report

6 Originate Report | June 2019

What got me into the hard money space was after the crash, I got out of the mortgage business completely; I was very bitter that 30 years in the industry could shrink almost overnight. But my sister, Wendy, who was also in the mortgage business, dragged me back – I did a few commercial jobs and audio/video integration, but as Wendy explained, there was a need for financing for small businesses; as you know, the banks pulled out of that space after the crash, but it wasn’t their fault, it was the fault of the regulators who limited what they could do. We saw that there was a need in that space for small businesses and small contractors, in that they didn’t have the money to fix properties. Wendy was involved with folks who had money in small IRA accounts, and they wanted to get a higher return on their money; she also knew people that needed money and people who wanted more money – that’s how we got started; frankly, hard money and private money is similar to being in the insurance industry, because it’s all about assessing risk. It wasn’t a big jump from conventional financing to private lending.

OR: Did that transition play a significant role in the formation of Carolina Capital Management?

BF: Well, it’s kind of a funny story – when we started this, it was easy for someone to cut a check for $50,000.

But as the business grew and people wanted bigger margins, there was also more that came with that – when we

INDUSTRY JOB WATCH

Look Wh o’s Hiring!

Money360, Inc., Ladera Ranch, CA Commercial Real Estate Loan Underwriter must be able to eval-

Looking to fill a posit Originate ion? Adve Report’s rtise it he In d re in u stry Jobs of thousa to get it in nds of qu front alified can didates.

Contact u s at (949) 629-396 1.

uate loan opportunities, including, the real estate collateral securing the proposed loan, the surrounding market and demographic area and the adequacy of the loan structure of the transaction and/or relationship. Primary duties include the underwriting of commercial real estate and bridge loans, reviewing loan documents, spreading financial statements, evaluating borrow/guarantor financial support and management, and developing rationale for pricing decisions. The role will be responsible for all aspects of a proposed loan from the time the borrower executes the term sheet through closing. Interested parties should contact Paul Cleary.

CONTACT: paulcleary@money360.com | www.money360.com

first started off, many projects just required new paint, etc. but as we grew contractors needed more resources to add square footage. It became more difficult to find foreclosures; with that said, it was more difficult to have multiple persons working on a loan and servicing it – eventually, we met Fairway America at the AAPL conference in Las Vegas, and they helped us get our fund started. It added a new job, of course – managing a fund – but it eliminated a lot of headaches trying to have just one person on a loan trying to put the pieces of the pie together. At the same time, when you’re running a fund, it diversifies the risk for all of the investors, and it becomes a more predictable income stream for us.

OR: What were some of the ‘growing pains’ associated with building Carolina Capital Management into what it is today, especially in the aftermath of a brutal financial crash?

BF: There weren’t many huge challenges with the aftermath of the financial crash itself; they were just trying to find the bottom of the market and scrape up available properties. With starting a fund, however, what we didn’t count on – or what we underestimated – was the task of raising capital. We knew a lot of people with money, but those people were active investors; when you put money in a fund, you have no control as an investor, you have to trust the management of the fund.

The challenge came with trying to convince active investors to ‘convert’ to passive investors; even though that was difficult, once we got going, things began running more smoothly.

OR: After those initial funding concerns, how have you seen your company grow since its inception?

BF: The team around us is the most important part – it started out as Wendy and I in a single office and then

a bookkeeper which made three of us. We grew in four short years to 11 staff members and were able to purchase our office, an old Victorian house with a wraparound porch only three blocks from the town square.

In terms of our location, we are perfectly situated half“A

new construction broker or ‘fix-and-flip’ buyer has a difficult time right now; it’s not that there aren’t deals out there; it is just incredibly difficult to buy right. We have changed our focus towards the professional who has been out there for quite some time, has been through the ups and downs, and knows how to seek out those deals.”

-Bill Fairman

way between Miami and New York; the Carolinas are a great place to be – we have way more people moving in than moving out, and this place is growing like crazy and has been for a number of years – the need for what we provide has never been higher.

OR: When you first started your company with Wendy, did you find yourself surprised that you were managing a business with your sister? Growing up, did you ever envision becoming her business partner?

BF: No way! We are a family of five kids; Wendy is in the middle, and I’m the oldest. Wendy has always been entrepreneurial, and I have always been commis-

sioned or self-employed for most of my adult life. We are a good Ying and Yang, but we both have to agree on something before we move forward with it – that process works well because Wendy is more aggressive and I am the ball and chain; sometimes she will come up with great ideas and I have to take it all in, think about it a while. If an idea sounds good to both of us, we move forward – and having that connection and trust with her is incredibly important to our company. There is no rivalry or animosity between us when it comes to problems some businesses face like one-upmanship, but our relationship is very strong, and we move on from any problems we may face.

Fairman said like himself, Wendy has not always been in the private money space – for over 35 years, she has worked as a licensed real estate broker. Since 2001, she has been working with both borrowers and lenders; Fairman said both of their ancillary career experiences have helped contribute to the success of Carolina Capital Management.

While some professionals come into the space with no experience in another field, Fairman said his time as a loan officer (and other related fields) helps him solve problems from different vantage points.

OR: Looking forward, what trends in the private money and lending spheres do you think will play a role in the continued development of Carolina Capital Management?

BF: You always need evolving technology to help you be more productive; I’d like to see, in the private money space at least, an end-to-end investor software, and I think there are a few good programs out there right Bill Fairman: Continues on pg. 8

www.originate.report 7

Bill Fairman: Continued from pg. 6

now. When I think about the market going forward, we have already changed our model – we see properties as overpriced. A new construction broker or ‘fix-and-flip’ buyer has a difficult time right now; it’s not that there aren’t deals out there; it is just incredibly difficult to buy right. We have changed our focus towards the professional who has been out there for quite some time, has been through the ups and downs, and knows how to seek out those deals. We’re also cutting back on the financing of higher-priced homes because as markets slow down a little bit, it’s typically the luxury market that gets soft. We’re playing that field defensively and focusing our efforts on affordable homes, because those are the ones that will always sell – as a lender, first and foremost, the question is “how quickly can I sell a property if we have to take it back and get that money re-invest, and if we can’t sell it quickly, can I rent it for close to my expected return.” Even though you don’t make as much money per property, you are able to diversify your holdings and at the same time, have more manageable backup plans. If you can’t sell a property right away, for example, at least you can gain some capital until you are able to sell.

OR: But is it difficult to manage those changes as the field and the marketplace adapt to lender and buyer needs?

BF: The most important thing in managing a fund is communication with investors – we just made the change in our focus to more affordable properties – away from the luxury market – and we presented those shifts to our investors. We allowed our investors to vote on changes to our Private Placement Memorandum (PPM) and implement those adjustments. One of the things we had to change was we were not going to be expecting a high return as we did initially for the reasons I explained before, as the focus shifts away from chasing yield. Our borrowers work with private money lenders because they understand those relationships and it’s easy for them to work with – but at the same time, you have to remain competitive because they could go out and raise their own funds. That’s one of the reasons we make sure to keep in constant communication with our investors. Going forward, we’re going to be more defensive in our posturing, and we’re looking at preservation as opposed to chasing yield, and the vast majority of our investors agreed with us and voted in favor of the changes. But overall, I can’t emphasize enough the role of communication within not only the confines of the company but with the investor pool as well. What we aim to provide is a safe return to our investors – capital preservation is at the top of the list, and we all know that in real estate that you have decent security in the assets you’re loaning against. With that said, however, there are too many folks out there who are simply chasing yield.

OR: With all of those changes in mind, what are some of the most rewarding aspects of your position?

BF: Just like when I was conducting seminars so many years ago, I love teaching – I love the feeling of watching people’s eyes light up when I explain how they can utilize compounding returns over time. Again, I was trying to convert active investors who were receiving payments every month whose ultimate goal was to grow their account, not necessarily live off of it. In the fund model, at least in our fund model, you can take those earnings and roll them over to the next quarter. Over time, you can take those 5, 7, or 10-year investments

8 Originate Report | June 2019

and outpace annual returns by 3 or 4 percent by taking that money and utilizing compounded returns.

OR: You’ve already touched on this, but where do you see Carolina Capital Management moving in the future?

BF: We’re happy being a regional lender – our goal, first and foremost, is to have a win-win for our borrowers and investors. If both of those folks win, the money takes care of itself for our business; what I love doing is watching neighborhoods turn around, and I love helping people take their retirement savings and invest that into real estate. We have a system here called EOS that helps our staff contribute in the best way they can; the system

ensures we have the right buts in the right seats, and they’re happy to be there – if an employee loves what they do, we can help encourage them and help them grow in huge ways. We are happy to be regional because we know our backyard and we are not trying to be ‘all things to all people.” We want to service the Carolinas and their surrounding states in the best way we can.

While some may not understand a regional approach to hard money in the real estate sphere, Fairman said focusing on the Carolinas and their surrounding states allows his company to serve clients with laser-focus.

CONTACT: For more information on Carolina Capital Mangement, visit http://carolinahardmoney.com

You have knowledge. You have ideas.

Let us showcase your voice.

Currently we’re looking for articles showcasing: Business Development • Fintech/Newest Loan Programs • Automation in Today’s Evolving Society • Upcoming Trends & Changes • Marketing & Outreach Essential Tools & Technologies • New Legal Issues and Regulations.

Another idea? We’d love to hear that, too.

Write for us. Email submissions@Originate.Report for more information.

www.originate.report www.originate.report 9 9

Revenue diversification

Fix N’ Flip, Bridge, Refinance, Ground Up & Small Balance Commercial

TODAY’S MARKET OPPORTUNITY: •

•

•

100 billion dollar non owner-occupied investment space SFR ’s 1-4 Fix N’ Flip, Bridge, Refinance, Ground Up & Small Balance Commercial Diversify product offering and add new revenue opportunities you may be missing out on Legally compensate your most prized relationships (Realtors) for referrals

WHAT TO LOOK FOR IN A BROKER + CAPITAL PARTNER RELATIONSHIP: • • •

Concierge across product offering with underwriting, training, service and support Dedicated call center for loan origination support and fund control Marketing materials provided including product tear sheets, pitch decks and web banners

In today’s market, refinancings have limited availability and there’s not much new housing inventory to lend against. For mortgage Brokers, this means the obvious; there are a lack of transactions in the market to profit from.

For shops that are only doing refinance or traditional mortgages, opportunities only come around every 5-7 years. You’ve got to have a big client base to have volume. With financial products across SFR ’s 1-4 Fix N’ Flip, Bridge, Refinance, Ground Up & Small Balance Commercial, the sales cycle is faster, there is significantly higher recurring business, and a few lenders have teams dedicated to helping you succeed.

BROKERS, PARTNER TODAY

10 Originate Report | June 2019

Think of it as a new product offering which results in the diversification of your potential revenue. All of this is well within reach, and much easier than you may think.

The NON-O/O investment space is a 100 billion dollar industry that has come full circle since the last market downturn. Over the last decade private lending has been growing, and the comeback of property investors is at an all-time high.

Here’s what it takes to do these types of loans and a good private lender will handle these things for your Brokerage…

• • • • • • •

Review and process loan applications Document collection Facilitate Appraisal Coordinate Title & Escrow Complete underwriting Facilitate Funding Pay you

Traditional Realtors and Mortgage Brokers have the misconception they need an NMLS license to be a lender in this product space. The main point in dealing with a private lender is while they primarily fund SFR’s, these loans are governed under commercial guidelines.

Thus we are not governed under RESPA, TRID or TIlLA. These loans are funded only into business entities allowing 7-10 business day closings and can pay anyone under a Brokerage license a referral fee or commission on the HUD at closing.

There are two avenues a Brokerage launching this type of product to Real Estate professionals can expect to see. You can be a Correspondent Partner (the lender would fund in your name)

http://triumph.capital/brokers

or an Origination Partner (the client would see the lender’s name on the HUD). Most deals are funded under a single set of product guidelines allowing training, underwriting and servicing to be easily understood.

CORRESPONDENT PARTNER (CP): You look and feel like the lender, a complete white-label product.

ORIGINATION PARTNER (OP): Traditional Broker + lender relationship, lender shows on HUD. A full concierge service for Broker partners handling everything from A-Z is an entirely new model for private lending and Mortgage Brokers / Real Estate professionals. Working with a direct lender enables Mortgage Brokers to keep the lion’s share of the profit and have the potential to earn from the yield spread as well, all while monetizing on much more frequent lending transactions, instead of the normal 5-7 year customer lifecycle.

There many private lenders chasing this strategy and it’s safe to be wary of who to work with.

While choosing a partner, look for someone who understands the business and has a strong reputation for closing transactions. You’ll also need support with marketing materials. Having the right documents and product tear sheets (one-pagers) for conversations, trade shows, etc. is helpful in positioning the opportunity with your existing book of referral business from Realtors.

For more information call

877-450-9741

ROB JENNINGS robert@triumph.capital

GEORGE O. FLINT goflint@triumph.capital

www.originate.report 11

SPOTLIGHT

Industry Spotlight: Robert Ritter Stacey Robles

&

BaySierra Financial, Inc.

12 Originate Report | June 2019 2019

N

avigating the often complex mine-

making large decisions. Because the real es-

lending can be frustrating – that

of BaySierra’s competitors rush to judgement

tate investment space is multi-faceted, many

field of real estate borrowing and

– but decades of experience and fact-based

is, of course, unless you have the right team

decision-making have echoed the importance

of professionals guiding you through the

of prudence and ambition.

process. Enter BaySierra Financial, Inc., a

full-service, licensed real estate broker spe-

Genuine: Some potential borrowers and

cializing in arranging, funding, selling, pur-

lenders say they are skeptical about utilizing

chasing, and servicing trust deed investments.

real estate professionals because of pre-con-

ceived notions about those working in the

John and Pamela Graziano founded BaySi-

space. Although there are less-than-honest

erra in 2000 and sold their interests in the

professionals offering too good to be true

company to long-time employees Robert Rit-

loans, BaySierra strives to offer realistic of-

ter and Stacey Robles in 2014; but despite

ferings for a wide variety of customers.

this change of ownership, the company’s in-

terests have remained the same – providing borrowers and lenders professional under-

Reputable: With over 40 years of experience

Additionally, Robert and Stacey serve as the

BaySierra’s staff have been securing loans to

with borrowers and lenders under their belt,

writing services throughout the Golden State.

wide acclaim since the company’s founding

company’s sole shareholders and its president

nearly two decades ago. The company is

and vice president (respectively.)

growing on a daily basis – but these claims

do not come as empty words; one custom-

Robert, who joined BaySierra in 2003, has

er, Dan, said “I have been investing with Bay

managed both of BaySierra’s mortgage

Sierra since 2005 and have been impressed

funds including, loan quality, collection of

non-performing assets, real estate owned management, day-to-day fund operations, and working with certified public accoun-

BaySierra President Robert Ritter (L) and Vice President Stacey Robles

with their industry knowledge, attention to detail, and professional service.”

tants and securities attorneys. As president,

Accessibility: One of the key factors behind

company, ensuring continuity of service and

sistent communication with clients. When a

BaySierra’s success is a focus on open, con-

he is heavily involved in all aspects of the

customer calls, they can expect a swift re-

a wide breadth of knowledge. Growing up

sponse and easy access to whomever they

in Monterey, CA, Robert attended Sonoma

need to speak to. The peace of mind that

State University where he earned a Bachelor

Robert and Stacey provide for their clients is

of Science in Business Administration with

part of why they have gained so much repeat

a concentration in Accounting; today, he re-

business.

sides in Santa Rosa and lives with his wife and three children.

Although the professionals at BaySierra already practice these values on a day-to-day

With extensive experience in investor rela-

basis, the dissemination of these points on

tions, loan originations, underwriting and the

the company’s new website reiterates their

preparation of loan documentation, and loan modifications, Stacey has been with BaySi-

erra since 1998. Since taking over as vice

president in 2014, Robles has continued applying her experience in investor relations and other areas of borrowing and lending. She currently resides in Santa Rosa with her husband and two children.

In April of this year, BaySierra doubled down on its

promise of providing the best experience possible for its customers by launching a major re-branding campaign.

This launch included a re-designed website and a renewed passion for assisting new and experienced buyers

and lenders alike. Geraci Media was proud to partner

with BaySierra in their efforts to rebrand, and to witness their continued growth and success in the industry. Bay Sierra also expanded upon its vision by announcing four core values: strategic, genuine, reputable, and accessible.

Strategic: In the real estate sphere, people are the number one key to success. What separates BaySierra from

the ‘rest of the pack’ is its ability to involve professionals

at every level of the investment process. With Robert

and Stacey at the helm, the company is ambitious, but also contentious of seeing both sides of the coin before

commitment to the customer.

For both seasoned and new investors, BaySierra has op-

tions of every kind for those wishing to secure their next loan – with a can-do mindset and willingness to go the extra mile for their customer, Robert and Stacey

(along with the rest of the BaySierra staff) are ready to

lay the foundation (sometimes literally) for your next real estate investment.

CONTACT: baysierra.com | (707) 544-5696 www.originate.report 13

FEATURE

The Best

Markets

For Investors of Residential Rental Properties

By Robert Greenberg, Patch of Land

14 Originate Report | June 2019

A

s the real estate cycle gets long in the tooth, res-

Baltimore-Columbia-Towson market as the top growth

than the cities that ended up on their list, the returns,

those places where they still have ample op-

al return this year, Baltimore City is expected to see

those markets are, according to Compound. Both are

idential investors are looking harder to find portunity for sizable returns. Single-family

rentals might be the next opportunity to consider.

We turned to a couple of different sources for insight on the best markets for single-family rental investors.

We looked at data provided by ATTOM Data

Solutions that analyzed single-family rental returns in 432 U.S. counties each with a popula-

tion of at least 100,000 and sufficient rental and home price data. It used rental data from the U.S.

Department of Housing and Urban Development (HUD) and home price data from publicly recorded sales deeds.

Rental returns were calculated using annual gross

rental yields: the 2019 50th percentile rent esti-

mates for three-bedroom homes in each county from HUD, annualized, and divided by the me-

dian sales price of residential properties in each county. The bottom-line gross rental yields varied from as high as 29% to as little as 3%.

market for 2019. Besides its 24.5% projected annu-

rental rates on SFR rise an estimated 3% this year over 2018. The median sales price, as of Q1 2019, was just

$91,750, up 22% over 2018’s $75,500. Average annual rental yield this year is expected to dip from 2018’s 28.8% to 24.5%, but it is still an eye-popping return.

The top five counties for the best rental returns according to ATTOM: 1. Baltimore City, Maryland (245%) 2. Bibb County, Georgia in the Macon metro area (21.9%) 3. Cumberland, New Jersey, in the Vineland-Bridgeton metro area (21.2%) 4. Winnebago, Illinois, in the Rockford metro area (17.1%) 5. Wayne County, Michigan in the Detroit metro area (17.1%)

The 10 best cities for rental returns according to Compound: 1. Indianapolis, Indiana

ATTOM looked at the best SFR growth markets

2. Cincinnati, Ohio

with potential 2019 annual gross rental yields of

4. Charlotte, North Carolina

where average wages grew over the past year and

3. Kansas City, Missouri

10 percent or higher.

5. Dallas-Fort Worth, Texas

Of 98 SFR growth markets that ATTOM iden-

7. Atlanta, Georgia

tified, the markets included several counties that were essentially ground zero during the foreclo-

sure crisis. Investors considering these growth

6. Columbus, Ohio 8. San Antonio, Texas 9. Austin, Texas 10. Cleveland, Ohio

counties and metros may entail.

We also looked at residential real estate investment

Besides its potential for rental returns, Wayne County

tate technology company. Compound creates city-spe-

(Detroit) was interesting for the large gain in the year-

over-year percentage change in the median sales price,

which rose by 30%, according to their data. Even with

the rise, homes are still very affordable in Wayne County

where the median sales price is just $95,000. Rent on a three-bedroom single-family house rose by 2% from

risky because they are relatively small metros and their historical performance has been inconsistent.

Compound measures risk by calculating the Sharpe Ra-

tio of each MSA’s average home price, using monthly

changes for the same period as the return calculation, which in this case was monthly for 12

months from March 2018 to March 2019. It used the Zillow Home Value Index, which includes single-family homes and condos to measure returns.

It’s interesting to see that data from both companies have cities or counties from Ohio and Geor-

gia among their top investment choices, although both place a different city at the top of the list for the best rental market in the country.

The differences in these “top rental market”

rankings come with some caveats for residential real estate investors. What’s a good growth opportunity for one investor may carry too much

risk for another. While all of these cities and counties offer something to think about, inves-

tors will need to consider their own appetite for growth vs. risk when deciding where to invest.

Regardless of what market is truly the best for single-family rental investing, many private mon-

ey lenders are offering rental investors aggressive

rates and a variety of term products including interest-only options that are great programs for real estate investors seeking to add rental prop-

markets will want to weigh the growth oppor-

tunities in light of the higher risk that these recovering

by themselves, don’t adequately account for how risky

rankings from Compound, the New York-based real es-

erties to their existing portfolios or even just wanting to cash out equity from existing rentals.

cific investment funds in markets that generally have a high barrier to entry and to single out the best cities for investors, Compound looks at risk and reward to help investors understand the correlation between the two and how much risk is too much.

2018 to 2019.

You won’t find Detroit or Pittsburgh on Compound’s

ATTOM ranked Baltimore City, MD, which covers the

two cities might have generated higher absolute returns

best cities list for rental investments. Even though those

www.originate.report 15

3. Use Professional Images

FEATURE

Designing the Perfect Pitch Deck

By Ruby Keys, Geraci Media

As you’re putting your deck together, spend some time creating a portfolio of professional images of your team

members, funded deals, or products and services. Imag-

es resonate with readers, and prospective investors want to see real photos of your business rather than stock photos downloaded from the Internet. The right image

will stay fresh in a person’s memory long after they’ve forgotten about the text they may have read.

4. Include Charts and Graphs

Many times, business owners feel the urge to provide a bevy of numbers in their pitch decks. However, provid-

ing too much data can result in the reader being turned off by having to calculate your business performance.

Instead of drowning your readers with statistics, offer

visually appealing charts and graphs that simplify the data and provide prospective investors with an easy way to see and digest the information you’re presenting.

5. Picking Icon Sets

Using small icon illustrations is an excellent way to or-

ganize complex ideas and provide flow throughout your entire presentation. Choose an icon set that matches

your theme and palette, use them to create groups of

data, or break up copy to give your slide a more detailed appearance.

6. Use Tiled Layouts

When you have large chunks of complex information to include, break it down with tiled layouts. Tiled layouts can help organize the information and minimize to be

I

easy to read portions. They can also be categorized by f you are looking to start a mortgage fund and

the use of images. Headers and footers should match on

pitch deck is critical for introducing your busi-

In most cases, you can use a simple PowerPoint template

decided it’s time to begin raising capital, a good ness to potential investors.

Some pitch deck preparers like to go heavy on the details, but this approach may overwhelm potential inves-

each page to project an overall consistent appearance.

to start with and improve upon some of the elements to fit your tastes or brand. The best option is to use darker text on a light-colored background.

tors with too much of the minutia. It’s better to strike a

2. Incorporate Your Branding

tion to get potential funders interested, without bom-

you should at least have a simple brand conceptualized

more balanced approach, between just enough informabarding them with operational details.

Here, we provide some pointers on how to design a pitch deck that pops yet is focused on delivering only concise and succinct answers to a fund manager’s most critical questions.

Not all startups have an established brand, however,

with which you can build around. Before you start your pitch deck, make sure to have a ready-made logo or wordmark and a color scheme that you can use to rep-

resent your company. Also, create a list of keywords that best describes or promotes your business.

Keep your color scheme and branding consistent

color blocks, which separate them into different locations within the slide.

7. Use Professional Headshots

When including photos of your team members, use professional headshots wherever possible. Investing the ex-

tra time and expense to obtain professional photographs

will help you remain consistent throughout your pitch deck and represent your brand well.

Some companies choose to use cameo-style shots in-

stead of the “mugshot” variety to add a little personality to their presentation. Before creating these headshots,

think about the type of investor you are pursuing. Tailor the photographs around those you believe would appeal to that group of investors.

8. Choose Consistent Typeface

It is essential to choose your typeface hierarchy and es-

1. Choose a Visually Appealing Template throughout your pitch deck. A consistent style guide tablish it throughout your pitch deck. Different comor Theme will help keep your business and branding consistent You can design your pitch deck from scratch or utilize a

as you grow and expand. These design elements could

and designs which are appealing to the eye and consis-

and stick with people during future conversations.

template, but keep in mind that you’ll want to use colors

tent with your brand. Your slides should be uniform in color and layout, while taking a modest approach with

16 Originate Report | June 2019

leave a lasting impression on the viewers of your deck

ponents such as titles, headings, subheadings, body text, and header and footer text should be set within your document and remain consistent throughout.

9. Use Contrasting Elements

While remaining consistent is recommended, use con-

trast against a variety of backgrounds or other elements.

This technique will make it easier for the reader to view when printed or projected. You should always balance your design between readability and functionality.

10. Get Creative

There will be some slides that will need to be content heavy, which may include an abundance of information or text. Some of these heavy-data slides can become

somewhat overwhelming for the reader to comprehend.

Instead of just dumping significant chunks of data onto

a slide, consider using graphics or timetable formatting to break it up into more easily discernible information.

As you create your pitch deck, place yourself in the shoes of the investors you hope to reach. Remember

to keep your business goals in mind, while directing potential investor’s attention to the essential aspects of your company and business model that add the most value to the investment.

A

professionally

designed,

well

packaged,

and

easy-to-understand presentation will ensure that your

deck reads well, is visually appealing, and focuses the

potential investor’s interest in the opportunity and not on the appearance of the presentation. If you are looking for help creating or redesigning your pitch deck, Geraci Media would love to be a resource for you.

ABOUT THE AUTHOR: Ruby Keys is the Vice President of Geraci Media. She joined Geraci LLP in 2015 as the Marketing Coordinator for Geraci Law Firm. As she enters her 4th year with Geraci, she is now the Vice President of Geraci Media, a full service marketing agency, which caters to the Non-Conventional Lending space. Geraci Media was founded in 2016 and began as an event line. Ruby has helped grow and manage Geraci Media to where they now host 5 conferences a year, produce a monthly magazine for Loan Originators, and offer marketing services for lenders nationwide. Ruby Keys is a graduate from Vanguard University with a degree in Marketing and Public Relations. She is very happy to have found a place where her talents and education are put to use and loves being a part of the growth at Geraci.

CONTACT: (949) 379-2600 | r.keys@geracillp.com | geracimediagroup.com

www.originate.report 17

Secondly, life happens. And even for the most joyous occasions, such as newlyweds moving in together, the act of moving goods into a storage units never reaches the “Top 3 Things I Want To Do Today” list. Likewise, when we face more challenging/one-time life events - divorce, death, and demolition (home remodel, salvaging items post flooding, etc.) - a storage unit is the perfect out of sight, out of mind destination to literally clear your physical and mental space to free yourself to deal with the emotions of this significant life event.

FEATURE

Finally, when life is “normal” (and also when life is not so normal) the monthly cost of a storage unit is almost always less than your mortgage/rent, health insurance, car payment, student loans, mobile phone, and even gym membership. The monthly payment is quietly deducted from your bank account and life moves on. When times are good, storage is completely out of sight out of mind.

When life throws you a doodie (i.e. surprise layoff, overbearing mortgage), the storage unit becomes even more valuable and essential, with non-essential expenses, such as the gym membership, getting cut from the budget.

Can I Do Storage?

This is purposefully a loaded question. Putting on your consumer hat, yes, of course, you can - and should - rent a storage unit. Jokes aside, it is very likely that you and at least 10% of your personal and professional network currently, or in the recent past, experienced storage as a customer.

Storage, Baby!

Why Storage is Here to Stay

By Dan Kryzanowski, Rocket Dollar

I

was sitting in Bryant Park on a picture perfect day in midtown Manhattan, enjoying the spring petals and devouring delicious mango and my first “dirty dog” from an NYC street vendor in nearly a decade. While I did my best to enjoy the moment and stay in a zen-like state, I broke down and finally (ahem, after 10 minutes) pulled out my iPhone to check my email.

It is also very likely that the other 99% of storage unit renters casually dismissed the notification and unconsciously weighed the joys of carrying on with their day vs. spending 4 hours on a Saturday to move their precious belongings to another facility. In the aggregate, in one day, with one simple communication, the facility owner raised revenue by 10%. Welcome to the wonderful world of self-storage!

Ten or so emails in, I received a brief email from my storage facility informing me that the price of my 5’ x 5’ would increase by $5. Considering that my dirty dog cost an Abe Lincoln, this email (and subsequent postcard to my house) quickly became an afterthought. Way back in Austin, the store facility owner quietly smiled as my rent increased 10% - again - for the third straight year.

It is very difficult for us as humans to turn off our ‘fight or flight’ response and dismiss the necessity to store and hoard food and other essential items. While we are neither being chased by lions, tigers, and bears (oh my!), nor walking miles or fighting fellow tribes to secure our next meal, these actions, desires, and needs are hardwired into who we are as homo sapiens.

18 Originate Report | June 2019

Why Storage?

As a multi-asset real estate investor, there are a fair number of opportunities for you to do storage via an investment into single property or syndicate. Track record and transparency are the two primary items I demand before writing my first check. It is also imperative that the property and manager has access to 21st century technology, from electronic gates and cameras to online booking and inventory management system.

Should you “do” storage as an owner/operator? This is difficult to gauge and a very personal decision. While storage on the surface seems like a no-brainer (i.e. no tenants, easy to transform a 5x10 into two 5x5s), the devil is in the details and may not pop up until the first or second calendar year. Stay tuned throughout the summer, as the industry’s top players offer very candid takes on the state of the market and what it takes to be successful as an investor or operator.

ABOUT THE AUTHOR:

Dan serves as EVP at Rocket Dollar and Capital Partner for Pinnacle Storage Properties. Dan currently rents two storage units for his non-profit’s supplies and high school letter jacket and VHS tapes from his glory days growing up in Scranton, PA. He also “does” storage as an investor in multiple properties across Texas. Visit with Dan at Captivate in Las Vegas.

CONTACT: dan@rocketdollar.com |

512.779.0843

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There is a personal stake in each deal and interaction.

We are here to build a legacy.

Let us help build y o u r s .

Contact our team today to discuss your potential investment opportunities.

14362 N. Frank Lloyd Wright Blvd., Ste. 1000, Scottsdale, AZ 85260 NMLS 1433420 | Phone (480) 477-7730 | refcorpaz.com | investorservices@refcropaz.com www.originate.report 19

FEATURE

Best Practices for Credit Bidding at Foreclosure

By Edward Brown, Pacific Private Money & Randy Newman, President of Total Lender Solutions

Y

ou currently hold the first mortgage on a rental property in California. The borrower is behind in payments to you and has disregarded all communications from you. You decide to file a notice of default to start the foreclosure process. Three months lapse, the sale has been set, the date of sale approaches, and you want to be strategic in deciding how best to proceed. You start asking yourself the following question: how much do I bid at the foreclosure sale?

As the foreclosing party, you are allowed to “credit bid,” meaning that you are able to bid as high as your note [including accrued interest, late fees, costs of foreclosure, etc.] without having to come up with actual cash at the sale. In California, other bidders, including non-foreclosing junior liens, must pay 100% of their bid in cashier’s checks or the equivalent. (As a side note, this is the reason most bidders will ask their banks for

20 Originate Report | June 2019

many cashier’s checks in varying increments, as the trustee handling the sale does not give back change at the sale. For example, if a bidder asks his bank for two $100,000 checks because he believes the bid will exceed the lender’s credit bid of $100,000, and he bids $140,000 at sale, the trustee will not immediately give back the overpaid amount [in this case, $60,000]; the trustee will return the overpayment in about seven to ten days after the sale. For this reason, the bidder should obtain multiple cashier’s checks in various denominations so as not to overpay in the bidding process).

At first glance, the foreclosing party may think to fully credit bid what he is owed, especially if the property is worth considerably more than the amount owed to the lender; however, there are other factors to consider. What if the lender is way off in what he believes the property is worth? Sometimes, a property that is a bit esoteric is much harder to value than one thinks. Does the lender

want to keep the property if she is the high bidder? Does she want to sell it right away upon owning it [should she be the high bidder]? Was there a personal guarantee on the note that is being foreclosed on? What is the current condition of the property? Is there a recent appraisal on the property? Are there any IRS liens attached to the property? These and many other questions must be considered when you are the foreclosing party.

Below are some general ideas/concepts to discuss with your real estate attorney (it is suggested that you hire an experienced attorney who is very familiar with the laws on foreclosure) when embarking down the foreclosure path.

IRS/Government Liens

First, we believe that the only time to open with a full credit bid is if a federal tax lien exists in a junior position (one needs to check with their attorney as to other government {or quasi government} liens, if the same rules

apply). The reason for this is that, although the IRS lien may not have priority to the bidder’s lien due to the IRS lien typically being recorded after the foreclosing lien was in place, the IRS has a post-sale 120 day right of redemption; thus, if the end bid is less than what is owed, and the IRS exercises its right of redemption, the foreclosing party may experience a potential loss.

For example, let’s assume the following: (a) On February 1, 2018, a first position deed of trust is recorded in the principal amount of $500,000. (b) On March 29, 2018, a second position deed of trust is recorded in the principal amount of $75,000. (c) On June 29, 2018, the IRS records a Notice of Federal Tax Lien in third position in the amount of $50,000. (d) On December 1, 2018, the borrower misses the first interest payment and fails to make any subsequent payment to the lender. (e) On January 30, 2019, the lender starts the foreclosure process. (f) The foreclosure sale is set for May 29, 2019. (g) The foreclosing lender is owed $560,000 (including principal, interest, late fee, and foreclosure fees) (h) The foreclosing lender believes the property to be worth $700,000.

If the foreclosing lender opens the bidding at $400,000 (possibly to establish a low basis upon possession of the property if the property reverts), and no one else bids at the sale, the foreclosing lender now becomes the owner for $400,000. Typically, all junior liens are wiped out. However, with the post-sale right of redemption, the IRS has 120 days from the date of sale to redeem the property; that is, the IRS can pay the foreclosing lender only $400,000 and force the sale to the IRS. Now, where the foreclosing lender thought they were going to get a windfall, they will actually suffer a loss of $160,000 (the amount they were owed less the amount they received).

When a junior IRS lien appears on the public record and there is significant equity in the property, a full credit bid ($560,000 in the above example) should be made in order to protect the foreclosing lender’s interests.

What if there are no government liens on the property?

There are some potential advantages to credit bidding less than the total amount owed. Below, we discuss a few.

We will be using the same assumptions as above, with one caveat: no federal tax lien appears on the property.

Taxes

Without a federal tax lien on the public record, it makes sense from an income tax standpoint to open the bidding lower than the amount owed to the foreclosing lender. With a full credit bid, the lender may be subject to paying income tax on the interest owed to the lender even though the lender did not receive any cash. By opening the bidding lower, the lender would not have to pay taxes on the unrealized interest and would have a valid argument that the property is worth less, resulting in a lower basis (remember, the property reverted to the foreclosing lender for the opening bid). If the lender were to then sell the property after holding it for at least one year, the lender may have a long-term capital gain which is usually taxed at a rate considerably lower than ordinary income.

Insurance Proceeds

The foreclosing lender typically is unaware of the condition of the property when the foreclosure begins. There may very well be damage to the property. Well, you say, that is why I am listed on the certificate of insurance in the mortgagee section. And you would be right. As the mortgagee, you have an insurable interest in the property. The insurance is to ensure that the lender is made whole. Well, if the foreclosing lender uses a full credit bid, then the foreclosing lender has, essentially, been paid in full. If damage is found on the property after the foreclosing lender becomes owner of the property, the lender may very well be out of luck. The insurance company can deny the claim on the basis that the lender’s full credit bid made the lender whole and that the lender’s insurable interest terminated when the property reverted. Unless the lender can prove that the damage was intentional, the lender may have no recourse. If the property reverted to the lender for less than what was owed, the lender maintains an insurable interest in the property and can make an insurance claim

Personal Guarantee

With entity borrowers (e.g, a corporation or limited liability company), lenders sometimes obtain a personal guaranty from the entity’s principals as a condition to making the loan. If the property reverts for the full credit bid, then nothing else is owed to the lender and they could not seek to collect additional monies from the guarantor. By underbidding, the lender may very well preserve its right to seek remuneration from the guarantor as the property was not worth what was owed. The lender may also be able to seek compensation from the guarantor for any damage done to the property, whether negligent or intentional.

when an IRS lien appears on title in a junior position.

Even then, the lender needs to investigate the value of the property, the IRS lien, and the likelihood that the IRS would exercise its right of redemption. Many times,

the IRS will choose not to exercise its right, and may

possibly negotiate its claim, but only a thorough and thoughtful analysis should come to the correct conclusion as to the correct course of action.

Other than potential government liens against the prop-

erty, most foreclosing lenders would be prudent to start off credit bidding less than the entirety of what is owed.

Remember, the credit bidder can always increase his bid....at least, up until the time the trustee says, “Sold!”

Again, please consult with competent counsel prior to determining the correct amount to underbid in order to preserve as many rights as possible.

ABOUT THE AUTHOR: Edward

Brown is in the Investor Relations department at Pacific Private Money in Novato, Calif.

CONTACT:

(415) 883-2150 pacificprivatemoney.com

Generalities and Summary

In general, keep in mind that a lower opening bid may entice others to begin bidding and create a true auction. The foreclosing lender is not prevented from bidding over and above the opening bid. In fact, the foreclosing lender is allowed to continue to credit bid up to the total amount it is owed; it does not have to accept anything less. Additionally, should the foreclosing lender desire to bid over what it is owed, the foreclosing lender can come to the sale with cashier’s checks in the same fashion as the third-party bidders.

In summary, it appears that best practices dictate that the only time the foreclosing lender should make a full credit bid is

www.originate.report 21

CITIES TO WATCH

Cities to Watch:

New Orleans

By Charles Peckman, Originate Report

La

Nouvelle-Orléans, or known simply

have been fascinating visitors and residents alike for

nacular, is more than just the largest

worrying about burying the dead under the sea level

as New Orleans in the English ver-

city in the state of Louisiana; it is an epicenter for food, jazz, and more. Its location along the Mississippi Riv-

er made the city an important trading port throughout

the 19th and 20th centuries; even though this tradition is carried on today, New Orleans has become known

for its Mardi Gras festival, Creole food, and lively jazz scene.

more than a century. When the city was established,

Of course the city’s nightlife would be incomplete with-

doo queen Marie Laveau and Civil War General P.G.T.

land, Bourbon Street. If you are looking for a quiet

of graves and mausoleums that include the likes of voo-

Beauregard. Although daytime tours are offered, it is

highly recommended that visitors take advantage of ‘haunted’ cemetery tours at night.

Ghosts and ghouls aside, New Orleans has plenty to of-

fer for the frightful among us – this includes a multitude

sold to the United States in the Louisiana Purchase.)

Sculpture Garden and architecturally important his-

Those international roots are still present today; not

Cat Music Club.

was not an issue, and this resulted in elaborate mazes

Founded in 1718 by French colonists, the city was once the capital of French Louisiana (before the area was

locals such as the Swizzle Stick Bar and the Spotted

of parks and outdoor activities, including the Besthoff

out mentioning an incredibly well-known stretch of

stroll along the river, this street is not for you – with parties that last all night long and an ever-present array of characters, this street is crawling with eccentrici-

ties. While perusing this historic stretch tomfoolery and debauchery, be sure to visit the Royal Sonesta Hotel, which is designed to look like a typical row of houses from the 1830s.

toric buildings that are open to the public.

Dining

but also in the multi-faceted cultural makeup of the city.

Nightlife

makeup – the star of the show, Creole cuisine, blends

Hurricane Katrina in 2005, the city persevered and re-

ing low-key drinks to vibrant nights of dancing (that

only in the well-known and beloved French Quarter,

Although ‘The Big Easy’ sustained major damage during mains strong to this day.

Must-see locations

Although graveyards may be a rather morose start to

any trip to New Orleans, their history and splendor

22 Originate Report | June 2019

Simply put, New Orleans’ nightlife is legendary. Offer-

you will want to remember but won’t,) Nola is certainly

known for its nocturnal crowd that clamors once the sun sets. As the city’s website states, “jazz wasn’t just

born in New Orleans – it grew up here.” This is certain-

ly true with a jazz scene that continues today, offering

The food of New Orleans is as diverse as its cultural French, Spanish, West African, Amerindian, Haitian, German, and Italian, as well as influences from the

South. This culinary tradition goes back for centuries

and is showcased in restaurants like Antoine’s, which

has been run by the same family (without interruption) for 179 years. Another Creole-centered restaurant, the

Commander’s Palace, has won James Beard awards for

its food and service, as well as Wine Spectator awards

for its wide array of vino. The city’s selections are not limited to Creole, however, as can be seen with the wellknown Café du Monde, which sells its coffee around

the globe and originated in the southern city. Located feet away from the French Quarter, Pat O’Brien’s Bar

offers an open cup for thirsty, weary travelers as well as

bites to eat (and even dueling pianos.) While walking the streets of the storied city, your nose will certainly be

in a perpetual state of nirvana – now, only if it wasn’t

so easy to walk into every restaurant and try something off of the menu…

Attractions:

In addition to museums, cemeteries, and houses/

churches of architectural interest, New Orleans’ unique

flair invades many of the activities many would find mundane and morose. “Why see a singer,” you may ask

yourself, “when I could take in a burlesque show in New Orleans?” After enjoying a hearty Creole meal,

wander the streets and you will find a myriad of vinyl

stores, antique spots, and bookstores that will fill your

suitcase with knick-knacks, music, and literature. All in all, ‘The Big Easy’ is a city built for exploring – whether you are there for a day or plan on settling down, there

is certainly enough room for you to bring your own version of crazy to this cacophony of fun and flair.

New Orleans, LA Economy:

• Major industries: Oil/gas, tourism, ship manufacturing, and aerospace technology • Minimum wage: $7.25 • Cost of living: 7.5 percent higher than the national average

Housing:

• Median household income: $36,964 • Median home price: $178,700 • Home price change: -5.4 percent (one-year change) • Home ownership: approx. 62 percent • Median rent price: $1,378/month (one bedroom apartment)

Job Market:

• Forbes List: Best places for business and careers #167 • Unemployment: 4.4 percent • Job growth: 0.8 percent (in the last year) • Loan originator average salary: $66,017 www.originate.report 23

You’re going places.

Don’t stop until that place is the top.

If you’re a loan originator looking to build your business and gain insight from the nation’s top mortgage brokers, bankers, lenders, and lawyers, Originate Report is for you. Distributed to 35,000 professionals in the private lending industry every month, this is where you come to see and be seen.

To discuss submitting original articles, or for general Originate Report questions, email us at submissions@originate.report.

behind you all the way. find us online at www.originate.report 24 Originate Report | June 2019

UPCOMING EVENTS

Upcoming Events Don’t be left out! Showcase your upcoming event here!

Contact a.carter@geracillp.com for more information.

Captivate 2019

August 21-23 • Las Vegas, NV www.geracicon.com

All event dates subject to change. Please visit conference websites for agendas and details. www.originate.report 25

LOAN HOME

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TYPES OF PROPERTIES WE LEND TO

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TYPES OF LOANS

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√

√

√

√

√

√

√

√

√

√

√

85/2

√

√

√

√

√

100K 10M

√

Direct Lender

*65% For commercial and mixed-use and 70% for multi-family and residential investment. 5 years (custom terms are available)

100K 10M

√

√

√

√

√

√

√

√

√

√

√

√

√

√

√

√

√

65/5*

√

70/5*

√

√

√

√

√

75/5

√

√

√

√

√

√

√

√

√

√

√

√

√

√

√

√

√

CA, CO, HI, TX, WA

√

√

√

√

√

√

√

√

√

√

√

90/2

Direct Lender

2M

√

* CA

Direct Lender

50K

√

AL, AK, AR, CA, CO, CT, DE, FL, GA, HI, IL, IN, AI, KS, KY, LA, ME, MD, MA, MI, MS, MO, MT, NE, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, RI, SC, TN, TX, VT, VA, WA, WV, WI, WY

Direct Lender

50K 50M

√

√

√

NATIONWIDE EXCEPT ALASKA, SOUTH DAKOTA, NORTH DAKOTA

√

√

√

√

√

90/2

2019

www.zincfinancial.com office@zinc.net Tom Valentino

3M

Rev. 01.14.19

Zinc Financial Inc.

50K

* CA

SFR

Patch of Land

√

* = states lending in

Pacific Private Money

Direct Lender

AZ, CA, CO, IN, MI, NM, OH, TN, TX, WA

Let Lenders know you found them in Originate Report!

Are you a lender? Advertise with Originate Report’s Loan Home and be seen by 35,000 industry professionals each month.

Contact our Loan Home director at (949) 629-3961.

www.originate.report www.originate.report27 27

PROVIDING PEACE OF MIND As a full service law firm that caters to the private lending industry, Geraci’s team of bankruptcy, banking and finance, litigation, securities, corporate, and real estate attorneys has provided our clients with peace of mind for over a decade.

Let us deal with the legal side of your business—so you can stay focused on what’s really important.

Geraci Law Firm | 949.298.8050 | www.geracilawfirm.com 28 Originate Report | June 2019