Robert Huntsinger

Upland, CA (USA)
Role(s):
Founder/Owner/Principal

Empire Realty

Find More Startups Startup
Location: Upland
Industry: Real Estate
Year Founded: 1989
Number Employees: 1-10 people
Description: Where do I find funding for the non-institutional residential investor, when I say investor I don’t mean flipper? I presently own my primary residence and three investment properties, two of the investment properties I picked up in the last year. I enjoy decent returns on my investment properties, 20%-30% return, and only buy undervalued properties. I am having a very difficult time identifying financing to purchase homes in the 75% and better LTV range beyond the four mortgages I presently have outstanding. I am having a difficult time finding refinancing for homes that I have bought so that I can roll the equity of one home off to my next home. Because I buy homes undervalued and increase the value through renovation I need to pull out my initial investment, and more when possible, to help fund my future acquisitions. I have been in Real Estate for over 20 years, have a yearly household W-2 income in the $250k range, FICO’s in the 700’s, low signature debt, $300k in retirement savings, $100k in cash and a couple hundred thousand dollars in equity on my homes. What is someone that is not rich in cash to do to get decent long term financing? It appears that the present market is only set up for flippers and does not appreciate those like myself that are investing long in this market. I have fine tuned my real estate investing business model over the last two decades, I would like to find a way to grow from 4 properties to 200 properties. Before the credit crunch I felt I had a good model and a good chance of parlaying my expertise into a thriving investment business, now I am concerned that there are no funds for the investor wanting to go long. I feel like I can only move forward with cash purchases at this time. Do you have any products or funding strategies for someone like me? I appreciate your time and consideration.