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Don’t Mess with Texas, Michael Hoffman - Longhorn III
Manage episode 441589031 series 3462090
Το περιεχόμενο παρέχεται από το Geraci LLP and Kevin Kim. Όλο το περιεχόμενο podcast, συμπεριλαμβανομένων των επεισοδίων, των γραφικών και των περιγραφών podcast, μεταφορτώνεται και παρέχεται απευθείας από τον Geraci LLP and Kevin Kim ή τον συνεργάτη της πλατφόρμας podcast. Εάν πιστεύετε ότι κάποιος χρησιμοποιεί το έργο σας που προστατεύεται από πνευματικά δικαιώματα χωρίς την άδειά σας, μπορείτε να ακολουθήσετε τη διαδικασία που περιγράφεται εδώ https://el.player.fm/legal.
In this episode of Lender Lounge with Kevin Kim, Mike Hoffman, CEO and President of Longhorn Investments, joins Kevin to share his journey into private lending and the growth of Longhorn Investments. Starting from a background in law with no real estate experience, Mike stumbled into the world of hard money lending during the 2008 financial crisis. He shares the origins of Longhorn Investments, its expansion beyond Texas, and the unique challenges of building a successful private lending business. Mike also discusses how the company adapted to market changes, including the decision to start a fund and the impact of institutional competition on their strategy. The conversation dives into the nuances of operating in multiple states, the challenges of raising capital, and the importance of maintaining a solid relationship with investors. Tune in to hear Mike’s insights on navigating the evolving private lending landscape, maintaining discipline, and his perspective on future opportunities.
Bullet Points:
[00:00:37] Introduction of Mike Hoffman and Longhorn Investments.
[00:01:00] Mike’s unconventional entry into the lending industry.
[00:02:11] Early challenges and learning about hard money lending.
[00:03:12] Transition to a fund model and challenges of raising capital.
[00:07:00] Expansion strategy to other states and diversifying investments.
[00:10:02] Evolution of the Texas market and branching into the Midwest.
[00:14:00] Adjusting business strategy to handle increased competition.
[00:21:03] Importance of maintaining investor relationships and discipline.
[00:28:20] Discussion on institutional partnerships and capital raising.
[00:33:57] Mike’s perspective on selling notes and loan servicing.
[00:38:58] The potential and challenges of securitization in private lending.
[00:43:33] Maintaining a single fund strategy versus multiple funds.
[00:47:00] Hiring and team development for scaling a lending business.
[00:52:22] Focus on growth, new products, and strategic planning for the future.
Links:
Learn more about Longhorn Investments at https://www.longhorninvestments.com/
Learn more about Geraci Law Firm at https://www.geracilawfirm.com
Subscribe to the Lender Lounge newsletter for episode notifications and exclusive content at https://www.geracilawfirm.com/lender-lounge-podcast
Subscribe to the Geraci Law Firm newsletter at https://www.geracilawfirm.com/sign-up
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