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The Commit to Wealth Podcast - Creating Generational Wealth through Real Estate Investing

May 18, 2019

James Eng serves as a senior director at Old Capital, where he has financed over $500MM in multifamily properties throughout the great state of Texas. Before Old Capital, he underwrote over $750MM in loans for GE Real Estate. He is currently invested as a limited partner in 21 multifamily properties totaling over 6,000 units. James is a graduate of The University of Texas at Austin where he received his degree in Finance.

Topics Covered:

  • What lenders are looking for
  • Lenders want to see 3rd part property management (50-60 units and above)
  • Requirements for agency loans (Fannie Mae and Freddie Mac): sponsors’ networth, liquidity (post-close)
  • Make sure you’re raising money from other people and holding some money back to protect your liquidity of your post-close money
  • Fannie Mae v. Freddie Mac
  • Freddie Mac Small Balance Loan Program ($1-7.5 million with 80% leverage)
  • Qualifying for the green programs
  • Understanding Texas and the Dallas-Fort Worth market

Nuggets of Wealth

  • What is a tool source or platform you use everyday? Yardy Matrix, Costar
  • What is top advice that you’d give to someone who wants to get into larger deals? All about team, fill out your sponsorship team
  • At the end of your life how do you want to be remembered? As a teacher, someone who taught other people about multifamily
  • Where can Commit to Wealth Nation go to contact you and find out more about you and Old Capital?