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John Morrissey

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Senior Vice President-Operations | CFSI Loan Management I served in the United States Army from July 14, 1992 until April 9, 2000. My first permanent duty station in the Army was at Fort Stewart, Georgia as a Congressional Clerk. This position really set the tone for my military experience. The “Congressionals” Office received inquiries from members of Congress on behalf of their constituents assigned to the various units on Fort Stewart. These were typically complaints against soldier’s commands. Thisjob taught me how to research military regulations and how to interpret those regulations.   After Fort Stewart, I was then stationed in Mannheim, Germany. I had several positions there that culminated with my promotion to Corporal (a rare rank in the Army) and the position of Non-Commissioned Officer In Charge of Personnel Actions. I was personally responsible for two junior enlisted personnel, and the running of an office that processed 300+ requests from soldiers assigned to Mannheim. I had to not only manage the office and ensure all requests were processed in accordance with military regulations, but also ensure my soldiers were proficient in all of their military occupational specialty skills, physical fitness, and common skills (land navigation, weapons proficiency). Their success or failure was attributed to my leadership skills.  Combat and Beyond I was deployed in support of Operation Joint Endeavor (Bosnia) and was in Croatia (considered a combat zone) in January-March 1996. I was part of a group tasked with keeping track of all Army personnel assigned to that theater. Finally, I was stationed at Fort Lewis, Washington in the Officer Management Section. There I was tasked with assisting 5 senior officers in the task of Commissioned Officer assignments throughout Fort Lewis. This position was previously filled by a Staff Sergeant (E6). I was a Corporal (E4) and was recognized personally by the General for my efforts.  Military Lessons Learned Leadership is JOB ONE for Non-Commissioned Officers in the Army.  Once I became a Corporal, I had to step up to leading soldiers by example and by direct action. I learned that everyone needs to be led differently. What works with one person, does not help someone else. I use those lessons every day when leading my employees at CFSI. Discipline is the first, middle and last thing everyone learns in the Army. The Army definition of discipline is doing what is right, even in the absence of direct orders. Operationally, I learned how to manage workflow, meet deadlines, motivate people, attention to detail, making sure the work product is right, understandable, and concise. All these military lessons, experiences, and knowledge are used daily in my business career. Everyone who has ever served in the military has at least one experience they will never forget. When I was in Croatia, the Officer in charge of our group (a Captain) decided that he wanted to go back to Hungary (our main duty station in the theater). On our way to Croatia, we were part of a large military convoy that was protected by armored vehicles. We had also been issued live ammunition in case of an ambush. Going back to Hungary we were not part of a convoy and we had no ammunition. I do not think I ever let the accelerator off the floor, except at stop signs the entire trip.  We ran into a few bands of armed civilians, but just raced past them and they thankfully did not fire at us. We made it back to the Hungarian air base where we were assigned.  It was the scariest several hours I had ever had in the Army!  The Transition My enlistment was set to end in April 2000. I moved to Colorado and planned on taking a couple months off (on leave I was still getting paid by the Army). I lasted two weeks before I was looking for a job. Having no mission was not working out for me. I started applying for jobs in earnest and went in for an interview with a Construction Loan Risk Mitigation company in their Customer Service Department. I would love to say I was hired because of my incredible interview skills, but the real reason was the managers conducting the interview felt that I would show up to work based on my military experience. I stayed in the Customer Service Department for about a year, then went on to the Fund Control Department. After about six months in Fund Control, I was given the opportunity to interview for the open Supervisor of Project Review/Contractor Acceptance position. I got the job and used all my military leadership experience to turn that department around. I went on to be promoted to AVP of the same department, then Vice President of Fund Control. Several years later I helped start CFSI Loan Management with the goal of taking Construction Loan Risk Mitigation services to the next level. Currently I am the Senior Vice President for Operations at CFSI. We provide Construction Loan Risk Mitigation Services to lenders across the United States. It is my job to ensure that we deliver top quality, accurate products in a timely manner. I have three VP level direct reports that I manage, and I handle major escalations from our lender clients. I am also the senior manager on site at our production office in Greenwood Village, Colorado so I deal with personnel, IT, and building issues as needed. I report directly to our President and work in partnership with him in creating new products and services. All this because my company thought I would show up for work!

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Tim Lobner

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Executive Vice President of Operations | Invitation Homes Tim Lobner carries many lessons from his days as a naval officer into his current role as executive vice president, Operations Support, at Invitation Homes. One lesson he relies on often is to “collapse to the essential,” meaning that with all that goes on around a person on a daily basis—both planned and unplanned—it’s important to narrow one’s focus to the few things that really matter. Tim graduated from the United States Naval Academy in 1999 and commissioned as an officer. During his six years as a nuclear submarine officer in the United States Navy, Tim says he found that events that unfolded on a mission were not always predictable or controllable—and the same holds true in business. “But with well-trained personnel that do the little things right at every opportunity,” Tim says, “a leader and their team are well-positioned to react to the surprises that come up simply because they have the bandwidth to focus on the challenge instead of having to exert too much effort on performing the basics.” Teams that Solve the Problem Once Today, Tim’s focus is squarely on leading Invitation Homes’ rehab, turn, and maintenance (RTM); procurement; and vehicle fleet operations. He and his team of more than 500 associates conduct all the activities required to maintain the company’s portfolio of 80,000 single family homes. Each year, they respond to 500,000+ service requests from residents and prepare 20,000+ homes for occupancy. This massive effort of what Tim calls “the big green RTM machine” is successful because he and his team have developed and implemented scalable national programs based on documented policies, processes, and procedures. “Whether in the military or in business, each person has an important role to play toward the success of the team,” Tim says. “And having a documented, consistent way of conducting operations ensures that everyone on the team knows what to expect, when to act, and how everyone’s role creates value for the team and its customers.” One lesson Tim brought from his time in the military is to solve problems once. “On a submarine, you don’t have the luxury of solving problems many times,” he says. “You need to get things right the first time. Identifying the root cause of an issue and solving the problem once is key.” Using this approach at Invitation Homes helps Tim and his team deliver an exceptional experience for the company’s residents. Thoughtful Leadership Tim counts one of his submariner skippers as having a major influence on his leadership style. “He remained remarkably calm at times when others might become unraveled and, in turn, created an environment where our crew could remain focused on performing our jobs despite very real distractions surrounding us,” remembers Tim. “And the direct advice he once shared with me has stuck with me for nearly two decades – ‘never get mad without a plan.’   Tim acknowledges that one major opportunity for veterans transitioning from the military into business is to assess the need for adjusting their leadership style. “What works in the military doesn’t translate perfectly to the private sector,” he says. “I’ve learned that successful leadership in the private sector requires an ability to tailor your leadership and communication styles to a broader audience to develop talent and deliver results.” A Smooth Transition Tim’s love for real estate began while he was still in the Navy. As he tells it, he was stationed in Groton, Connecticut, finishing Submarine Officer School when he received orders to report to a submarine based in San Diego, California. Rent in San Diego was high, so he decided to buy a townhouse and offered to rent a room to his best friend. “My light bulb moment was when I realized that the rent I collected covered roughly 75% of my mortgage and that I was able to use someone else’s money to build equity,” he says. “After that I set a goal of going to business school and pursuing a career in real estate.” Upon his exit from the Navy in 2005 as a Lieutenant (O-3), Tim received his Master of Business Administration (MBA) from the University of Chicago Booth School of Business. Tim began his formal career in real estate in 2006 when he took a job as senior associate with Trammell Crow Company. In his six years at Trammell Crow, he also served in a development role, supporting acquisition and development efforts across industrial, retail and office assets. While he feels blessed to have had the opportunity to work with Trammell Crow, Tim counts the most rewarding experience of his career as taking a chance with Invitation Homes. “In 2012, I left a job I enjoyed with a great company to pursue an opportunity with Invitation Homes, an unknown company at the time,” he says. “I was drawn to the entrepreneurial spirit of the company’s founders and to a business model that not only made sense strategically but also felt more purposeful.” That sense of purpose, which is a common thread spanning Tim’s military and real estate career, led to one of his proudest moments. “I am incredibly proud of my time serving our country, yet I am equally proud of our team’s efforts at Invitation Homes which culminated in our 2017 initial public offering on the New York Stock Exchange,” he explains. “It was an achievement that our leadership team had been working toward for several years and served to validate our business model.”  As Tim looks to the future, he sees continued opportunity to drive further operational efficiencies into Invitation Homes’ service delivery model and to expand upon the industry-leading “leasing lifestyle” that the company provides to its residents. Wherever the journey takes Tim, he will continue to bring the valuable lessons of focus, process, and team appreciation to his work.

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David Young

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Director of Business Development | RCN Capital My name is David Young, and I am currently the Director of Business Development for RCN Capital. RCN Capital is a direct private lender in the non-owner-occupied residential space. Military Beginnings I graduated from the United States Military Academy at West Point in 1997 and served approximately seven years on active duty as an officer in the U.S. Army.  My military career started officially with Beast Barracks as a plebe in June of 1993. Very shortly after high school graduation in Central Massachusetts and playing in a football All Star game, my parents and I took the drive to old West Point on the Hudson River in New York. After saying goodbye to my parents, I quickly adjusted, or was forced into adjusting, to life as a plebe at West Point. There were certainly challenging moments. West Point was a great experience that helped me in many ways. I truly cherished every moment playing Division 1 baseball and excelling in my primary major of Economics and my secondary area of focus of Systems Engineering. There were so many outstanding men and women I met and worked with, to include not just the professors and staff, but also myfellow cadets.  My time on active duty included two stops at Fort Sill in Oklahoma and a lengthy stay of about four years at Fort Carson in Colorado. I was an officer in the Field Artillery and held positions such as Fire Direction Officer, Platoon Leader, Squadron Fire Support Officer, and Battery Commander. Inspirational Leadership There were several inspiring people I worked with and for during this time, but a few leadership lessons and patterns stood out. Two of those are integrity and leading by example.  I led groups of soldiers ranging from as few as 5-7 troops to groups that exceeded 300 soldiers. Many of the soldiers under my charge were several years older than me and more experienced in terms of time served.  Regardless, the effectiveness of leading by example and integrity always stood out. Soldiers responded to leaders that demonstrated the ability and willingness to accomplish the very same tasks asked of them either individually or as a member of a team.  Integrity was always crucial and something that West Point helped me internalize as a professional. Soldiers deserved the truth and were much more effective when leaders were honest not only in laying out the landscape and tasks at hand, but also in delivering coaching, guidance, and instruction that was frank and honest. The Transition These qualities are still vastly significant to this day. I got my start in the Real Estate industry somewhat indirectly via RCN Capital. I started with the company in 2014 and put together a boutique lending business serving another target market.  In 2018 we shifted some of our focus and I took over Business Development for the company.  My current role requires extensive prospecting and interaction with potential and existing clients and partners. One could look at it as securing future revenue streams for the company while also managing our Correspondent channel to ensure clients are performing to their capabilities and desires.  Self-generating new business from scratch requires rigorous hard work and determination, and my military background certainly helps in that area. Ensuring client and company success after bringing in new business also requires extensive follow through, commitment, and persistence. However, while “making a sale” or handling a new partner, integrity and leading by example are always part of the equation. Partners on our lending platform expect and deserve honest and realistic feedback and input on what we can and can’t do, and they also deserve to know what is expected of them in order to make the business relationship a success. I use these traits every single day working in this industry. On a personal note, my main interests beyond time with family, center on investing, fitness, and arts and culture. You can find me at the gym, riding all over Boston on my bike with my daughter in tow, or at a place like the Institute of Contemporary Art or music venue. At all times, thoughts and ideas are circulating regarding investments. My main areas of emphasis focus on non-traditional spaces such as crypto, early stage, scarce assets and collectibles, and digital assets such as websites.  The future appears quite bright for residential real estate, private lending, and RCN Capital. It is my intent to continue to help lead RCN to the forefront of the industry and take on higher levels of responsibility for the company as we progress.

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How Military Leadership Skills Translate to Civilian Careers

by Matthew Croslin Do military leadership skills translate to the civilian world? Military leadership education and experience are highly regarded as of form of learning to lead organizations. This education and experience can carry over to the business world at the various levels of civilian organizations. The military leader brings focused leadership education along with practical leadership experience to the civilian market. The military leader is also typically adept at adjusting leadership styles to match the environment. The biggest hurdle for the former military leader is likely adapting to the culture and norms of their new civilian organization. The pace and work attitude can vary from that experienced in the military. Professional military leadership education combined with the practical experience gained from various assignments leads former military leaders to become better trained business leaders. They are equipped to handle a greater variety of situations with better results. The business environment does have unique challenges that military leadership will not directly prepare a leader to overcome. However, leadership education combined with experience will better prepare any leader to achieve success. The military expends a great deal of time and resources focused specifically on creating better leaders.  Military leaders are put through a range of positions and opportunities to further develop abilities through the application of the leadership training. The ongoing leadership education and subsequent rotation through leadership positions are inherent to the military leadership model. Leaders can and should be grown.  Military and civilian leadership are somewhat similar, and each can benefit from the other. Normally, business benefits from those who are or have been military leaders, but sometimes it goes the other way. Leadership is fundamentally leadership, regardless of military, business, or any other organization. The military focuses a great deal on leadership education. This is probably the biggest up-front difference between how the military grows leaders versus the corporate world.  In the business world, less corporate time is spent on educating leaders. It is more up to the individual to pursue education. Business leaders are expected to spend personal time and expense in obtaining leadership education both before employment and after normal work hours, especially at lower levels of business management. The military encourages the pursuit of additional civilian education, and often subsidizes the cost of pursuing higher education through various benefits.       Another aspect of leadership is the practical application of leadership lessons or on the job training. Military leaders are always engaged in leadership, most often 24 hours a day, 7 days a week. Military leaders get to apply the leadership management skills all throughout their careers, in ever increasing levels of the organization from the very junior to the most senior.  The military leader experiences multiple levels of management through a variety of positions during their career. This applies to careers that only span one enlistment all the way to 20 plus years. How many in business ever achieve more than one or two levels of experience in a corporation? Most business leaders do not achieve more than a few levels on the corporate ladder. Another benefit that a military leader may bring is they typically have at least some, and often a great deal of, international experience. Many military leaders also have experience working with businesses in other countries as a part of their duties. This experience, even if limited, is more than the average business school graduate obtains. Many leaders in business have no direct international experience. The business world has much to benefit from a military leader in terms of leadership training and education, experience under fire, international experience, and the variety of positions that the military leader undertakes. The military also can benefit from those who have left the military for the corporate world and returned. Leadership education and experience is valuable, no matter where it is obtained. While not an absolute requirement to be a great leader, experience is essential to make sound leadership decisions. The military provides nonstop experience as leaders are repeatedly given the chance to lead and to both succeed and fail. It is from these experiences that the military leader can advance his leadership past what is taught in the classroom.        Military leaders are exposed to concepts such as vision, mission statement, and objectives. Implementing and executing strategy and monitoring and evaluating the performance of the organization are also fundamental.  Military leadership education and experience is in a state of constant evolvement since the beginning of military leadership. Business leadership is also evolving and being developed. Most will agree that leadership is leadership, no matter where it is learned.  The military leader has not only “learned” how to be a leader, he/she has applied that learning to a multitude of leadership situations and gained valuable experience in return. When a business school graduate applies for the same position as a former military leader, experience is no question.  Some authors that study and write about leadership and management have argued that military leadership is in fact a desirable trait for business managers and leaders. Military leaders are sought after by corporations for the qualities and experience that they possess.  Business school graduates also possess varying degrees of leadership training but not necessarily experience. Those who hire leaders for businesses and corporations must look at the individual and not merely the fact that they were a military leader or just a business school graduate. What traits does the candidate possess that the organization finds valuable. The chances are high that the former military leader will succeed and provide benefit to the civilian organization. There have been and will continue to be successful business leaders with zero experience in the military. The military has even borrowed from business in teaching leadership. The military leader is a valuable source of talent for business. The basic leadership lessons taught in the military are transferrable to the civilian business market. This is one reason the military professional is sought by corporations.  Yes, military leadership skills do translate to the civilian work force. Leadership

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Making a Habit of Best Practice

Keystone Asset Management Finds Solutions in Every Real Estate Scenario.  By Carole VanSickle Ellis Keystone Asset Management has been on the path to big things from its very inception. Founded in 1995 in Philadelphia, Pennsylvania, Keystone started out, as CEO Ryan Hennessy describes it, as “a real estate company in ‘Philly’ handling distressed bank-owned assets for lenders including Fannie Mae, Freddie Mac, HUD, and various financial institutions.” Keystone is a family company; Hennessy’s mother, Jane Hennessy, and a then-partner realized in the mid-1990s that there was a need in the market for an asset management company specializing in distressed assets and REO (real estate owned) properties. Soon, business was booming, and the two added a valuation unit to handle broker price opinions and other facets of valuation. “By 1997, they had a national platform,” Hennessy said proudly. From there, the company continued to grow and expand to meet investor needs. Today, Keystone offers a vast range of services from property valuation to REO asset management to property preservation to property tax consulting and insurance. “There are so many things that go into a successful plan for each asset in a portfolio. As investors encounter diverse scenarios across their portfolio, we can help them formulate best practices, commonsense solutions, asset protection strategies, and even brand protection and building processes,” explained Jim Jacquelin, the company’s Director of Operations. The company combines decades of experience and deep-dive economic analytics to create custom management strategies for large real estate portfolios. “Effective, profitable asset management requires constant monitoring and evaluation of assets, strategies, and analytics. Our service and quality remain the same, but we adapt to our asset owners to reprioritize strategically and analytically to meet their specific goals and needs,” Hennessy said. Keystone employs a vast array of experts in a wide variety of fields including field services, performance and execution and an economic arm. This combination approach has served the company well, particularly since the end of the Great Recession when institutional investors entered the housing market in full force and began dealing with the kaleidoscopic and intricate details of single-family residential real estate. As the face of institutional investing and high-volume portfolio owners has changed over the past decade, Keystone has evolved to keep up with the changing and diverse needs of these major real estate players. Fitting All the Pieces Together Because Keystone is a national company catering to clients with vast geographic spread in their portfolios, nearly every service sector within the corporate structure is equipped to identify bellwether signs of a changing economy and respond appropriately. However, Hennessy said, that positioning, while starkly apparent today, has been serving Keystone clients well for decades. “We know that markets are cyclical, and certain types of investor behavior in certain sectors are also predictable. Combining those two facets of knowledge gives us a head start on the rest of the field when it comes to adjusting asset strategy,” Hennessy said. By working closely with clients to identify what type of investment strategies are most comfortable for them and what types of assets they want to leverage, the company can create the best position for each asset in the portfolio. For example, when a new “file” or asset enters the process, occupancy is the first piece of the equation. This is particularly important at present when the COVID-19 pandemic creates unusual issues with tenancy, leasing, rent payments, and evictions. “There are a lot of factors that go into working on a property with a tenant to create a positive outcome for everyone involved,” said Jacquelin. “Even if there is no one residing in the property, there are certain liabilities we protect against like securing the property against the elements, preventing break-ins and squatting, and preventing anyone from getting hurt while on the property.” Even before COVID-19, each state and local government had different rules, laws, and codes for these issues. Failing to address the logistical “fine print” could be catastrophic from both a legal and financial standpoint, particularly for high-volume investors who might be particularly attractive targets for litigation and bad publicity. “We have to handle all of those angles before we dive into figuring out what strategy will be the best fit for that property,” Jacquelin said.  Getting in the Best Position for 2020 and 2021 Thanks to Keystone’s extensive work with high-volume portfolios and owners with a diverse set of goals, Hennessy has been able to identify certain investing characteristics and types of investor over the years. Embracing certain strategic tendencies can position any investor, regardless of the volume of properties they currently own, in a prime position to emerge from the current economic downturn better off than they went in. “You must know who you are as a real estate investor and be flexible,” Hennessy said. “Does your strategy dictate your portfolio or, through pool acquisition, does your portfolio dictate your strategy?” In 2020 and 2021, the latter type may have an innate advantage over the former due to rising competition in the single-family marketplace. “We have a unique ability to aggregate critical data points surrounding the four core inputs on asset decisioning: geography, occupancy, valuation and intangibles—title, HOA, taxes. Ultimately, correctly aggregating data on these inputs paint a true picture on management philosophy and optimal disposition paths,” Hennessy added. “If you are the type to strategically acquire a specific type of property, then you should take a close look at your ‘buy boxes’ to see how they are affecting your long-term goals right now,” Hennessy said. “It might make sense to stretch the box or diversify a little bit.” On the other hand, most institutional investors tend to be acquirers first and strategize second, mainly because they tend to acquire in bulk. In this case, the portfolio itself will dictate strategy and, ideally, each asset will have a unique strategy that makes the most of that asset while protecting the interests of the new owner from every angle. “Institutional players tend to look at things at a much

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Funding Strategies in an Evolving Market

Expert tips for developing your correct financial structure by Kendra Rommel Since the COVID-19 pandemic began, there has been an odd sense that we have been operating in some sort of time warp. Anything that happened before March feels like years ago, yet the fact that it’s October seems almost surreal.  Nothing exemplifies this feeling more than the roller coaster ride of the real estate market. The uncertainty created obstacles and accelerated the velocity of change, challenging investors, contractors, lenders and related businesses to address and adapt to a myriad of challenges and obstacles. Remarkably, even amidst the uncertainty, a health care crisis did not become a housing market crisis and the real estate market has continued to be strong. Thriving as a real estate investor, broker, or lender, today requires a sound and stable financing strategy. Having a consistent, reliable capital partner is perhaps the most important element to building a solid business model. This may evolve over time— from your start in business to becoming an experienced pro. Regardless of your strategy, there are a myriad of capital or financing options available to you.  Here are some tips for developing your correct financing structure. Types of Finance Private lenders. There are two types of private lenders:  (1) Individuals such as friends, family, accredited investors, etc. that are known to be syndicators or funds, and (2) Institutional private money lenders, sometimes called hard money lenders, who have their own capital as well as institutional capital partners, such as banks and Wall Street investment firms. A notable difference with private money is the fact that they base risk on the asset, rather than on the individual’s personal borrowing strength. This makes the loan process considerably faster and easier than conventional lending. Conventional Lenders. Banks, credit unions and mortgage lenders are common for investors who have strong individual borrowing strength. Interest rates with conventional lenders are at historic lows. However, LTVs are lower and down payment requirements are higher than private money programs. Qualifying for a bank loan on an investment property can be onerous, difficult and time consuming. Additionally, banks typically have a maximum exposure limit for the borrower which limits the amount of properties they can finance. Mortgage brokers. They do not lend their own money. Instead, brokers work to find you the right lender from all the options available. For this, they take a commission in the form of points on the loan, which are paid at closing. Real estate partnerships, Joint Ventures (JVs) or Equity participants. These are individuals or companies included in the participation of any one deal, (usually as a limited partnership or as a passive partner to the primary). It is standard for a prospective partner to want to review the investment strategy, summary, pro-forma and intended exit strategy. Warehouse Banks/ Bank Lines. These are banks that extend a line of credit to lenders at predetermined terms, such as type of assets, terms, pricing, and LTVs. This line enables lenders to fund less on their company balance sheet. Selecting A Capital Partner Circumstances such as the recent pandemic clearly illustrated the absolute imperative of conducting due diligence when choosing to align with a capital partner. It is important not to think merely in transactional terms—getting a good deal on one property—but rather focusing objectively on who will be your best capital partner as you grow and change through market shifts, both forecasted and unexpected. Capacity and Access to Capital. At the onset of the pandemic shutdown, many lenders had their warehouse lines leveraged and they were reliant on institutional capital partners buying their loans at a premium to remain profitable. Overnight, warehouse lines and institutional/Wall Street buyers froze. This forced many lenders into a compromised position of which they had to stop originating or funding deals. Experience. There is simply no substitute for experience—whether it is a sales associate, broker, or lender. They need to have a broad perspective and know how to deal with fluctuations in the market, handle challenging or creative scenarios, and understand what makes a mutually beneficial deal. The industry has been feast or famine over the past decade and those who have weathered the ups and downs can bring that expertise to bear for your benefit.  Options. One of the biggest rookie mistakes is to focus on rates. Keep your focus on the entire financing structure. This will ensure you do not miss crucial details in achieving the highest ROI possible. When evaluating a credible finance partner, they should strive to understand each unique strategy and exit plan to enable them to provide the best loan options to meet their clients’ individual needs and goals. True capital partners are problem solvers. Communication. Clear communication and transparency are vital for building a successful relationship with anyone, especially your capital partner. Funding Strategies It is critical that financing strategies and guidelines align with the specific investment opportunity. Financing solutions are not one-size-fits-all. Each sponsor or property likely will have a different strategy and disposition plan. Therefore, be clear on your intention with the asset(s) so you can determine the short and long-term objectives. Having a clear exit strategy in advance, including timelines, will help you find the right financing solution while maintaining the highest margins or returns: Fix and Flip. When you find a good deal, you have to be able to move quickly to acquire it. It is important that you have supported data verifying the neighborhood value range, the bottom and highest comps. Also, know what types of finishes or appeal warrants the high versus low end of that market. In today’s market, investors are optimistic that they can reap returns quickly, whether it is through simple cosmetic updates or more complex ones. Rehab Financing. When you finance your rehab, this portion of the loan is typically held in a control fund & issued in draws as a reimbursement when the work is completed. This is a great option to preserve your liquid position and be ready for

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