- Grand Coast Capital Group, LLC (GC) is a specialty finance company that lends to developers on fix and flip single family homes
- Seeking $100+/- million of capital to finance future lending
- Ability to lend in all 50 states
- To date, GC has successfully originated and funded over $230 million in loans
- Offices in Boston, MA and San Diego, CA
- Management team has extensive experience in the space
- 40+ years of combined real estate experience: $450M in commercial and residential acquisitions; 1,000 residential “fix and flips” projects; $200M in private real estate loans
- expertise in all key disciplines, including finance, development, construction, management, due diligence, etc.
- extensive network of real estate borrowers nationwide through their affiliated companies and existing relationships
- Markets with highest home flipping rate
- in Q2 2016, 5.5% (51,434) of all single family home and condo sales were flips, a 14% increase from the previous quarter and up 3% from a year ago to the highest rate of home flips since Q2 2010 – a six-year high
- Gross flipping profit increases to new all-time high
- homes flipped in Q2 2016 sold on average for $189,000, a 48.8% increase from the previous quarter, up from a 47.5% average gross flipping ROI in Q2 2015
- Markets with highest gross flipping profits
- home flippers are realizing a much bigger gross ROI in 2016, averaging 49% in the first two quarters compared to an average gross ROI of just 27% in 2006
- Traditional financing institutions lack required flexibility
- bank loans require low LTV and high debt service coverage ratio
- entrepreneurs and investors seek alternatives to banks – longer term loans; streamlined process
- Repeat Business/Long Term Relationship
- identify borrowers with correct “mindset” – passionate, hard-working, honest, high integrity
- preferred capital provider for smaller, successful operators that have consistent deal flow in their local market
- Win-Win Strategy
- all parties involved in the transaction (borrower, lender, broker, etc.) benefit from the transaction
- verify borrower makes a sufficient profit in downside scenario and ability to payoff loan
- Not a “Loan-To-Own” Lender
- lend on transactions with successful operators that have consistent deal flow in their local market with a viable exit strategy
- Borrower Profile
- experienced with proven track record
- local operator with strong market knowledge and expertise
- emphasis on LTV and LTC
- seek to stay below 70% LTV
- ability to service the debt
- viable exit strategy
- Over ten years of experience in the real estate and investment sector – total real estate acquisition value in excess of $400 million.
- Prior to co-founding Grand Coast Capital Group, spent the last 3.5 years as a principal and Managing Partner at Triad Alpha Partners, where he focused on multi-family development and commercial investment.
- Previously, Regional Director of Acquisitions for a real estate private equity firm that acquired and managed net-leased properties across the country. Oversees and manages all aspects of the business.
- Masters in Finance from Suffolk University and BS from Vanderbilt University.
- Co-founded the firm in 2013 and brings 10+ years of real estate investment experience totaling over $200M in asset value
- Works closely with Jeff in all aspects of the business, as well as serving on Investment Committee
- Founded and currently manages as CFO CT Homes LLC and FortuneBuilders, Inc.
- BS in Economics from University of California Davis