DSNews delivers stories, ideas, links, companies, people, events, and videos impacting the mortgage default servicing industry.
Issue link: http://digital.dsnews.com/i/1085639
46 SFR Investments SPECIAL ADVERTORIAL SECTION RCN CAPITAL CORPORATE DETAILS: 75 Gerber Road E., Suite 102, South Windsor, CT 06074 | 860.432.5858 Info@RCNCapital.com | RCNCapital.com COMPANY HISTORY RCN Capital, LLC was established in 2010 to provide time-sensitive, bridge financing to real estate investors to fund the purchase of non- owner occupied residential and commercial properties. Formed towards the end of the recession, RCN Capital has benefited from a turbulent housing market in which many real estate investors see great opportunity. A lack of liquidity in the credit markets and increased regulation of the banking industry has restricted conventional financing as an option for investors in fast-moving and competitive real estate markets. As the nation's premier direct private lender, RCN Capital helps fill this void. COMPANY DESCRIPTION RCN Capital is a national, direct, private lender. Established in 2010, the company provides short-term and long-term commercial loans ranging from $50K to $2.5M+ for the purchase of non-owner occupied residential and commercial properties, financing of renovation projects, and bridge funding. RCN Capital lends to experienced real estate professionals and investors throughout the country. The company provides quick responses to time-sensitive loans. At RCN Capital, referrals are valued and brokers are protected. RCN Capital lends in 44 states with the exception of Alaska, Minnesota, North Dakota, South Dakota, Vermont, and Oregon. BUSINESS LINES, SERVICES, AND PRODUCTS RCN Capital offers short-term fix and flip financing. Their after-repair value program provides funding for both the purchase and renovation of non-owner occupied single-family, and multi-family properties. RCN provides up to 85 percent of the purchase price plus 100 percent of the renovation costs as long as it does not exceed 75 percent of the after-repair value. RCN also offers 15-year and 30-year fixed rate long- term programs for investors that are looking to buy and hold investment properties. TOP BENEFITS » As a direct lender, all RCN loans are underwritten and approved in-house, assuring that it can be closed quickly, often in as few as 10 business days. » Their nationwide scope allows them to work with investors throughout the country. In cases where real estate professionals are looking to invest in multiple states, the process is identical regardless of where the property is located. » With RCN's ARV loan program, they do not charge interest on the hold back only on disbursed funds, saving investors money over the term of their project. RCN also saves its investors money by having no prepayment penalties on the ARV program. COMPETITIVE ADVANTAGE What sets RCN Capital apart from their competitors are the company's loan programs and rates. Because of RCN's size, they have the ability to be more competitive than most other private lenders. They also pride themselves on personalized service with one on one contact with a loan officer. This ensures brokers and borrowers receive personalized attention that many tech- centric private lenders don't offer. KEYS TO SUCCESS The key to RCN's success is that they invest in the highest quality team members they possibly can, and provide them with the tools they need to be successful. That has allowed RCN to build a customer-centric company with the idea that it treats its customers as good as it treats its employees. RCN not only offers tech solutions to customers but have also invested in their employees to ensure their customers receive the highest level of customer service from intake to post-closing. RCN also retains complete control of the rehab process so that customers are interacting with members of its servicing team, enabling one-on-one communication from the initial draw request through the pay-off. KEY PERSONNEL Jeffrey Tesch, Managing Director Deborah Ordille VP of Lending Terri Gaskell Operations Manager Erica LaCentra Director of Marketing STAFFING » Number of company employees – 65 INDUSTRY AWARDS, ACCOLADES, AND MILESTONES » National Mortgage Professional's Top Mortgage Employer Award 2015- 2019 » Pitbull Conference Rehab Lender of the Year in 2017 » National Alliance of Commercial Loan Brokers Best Broker Program in 2018