Have the patience to say no.”
JESSIE RODRIGUEZ OWNER CAL AMERICAN HOMES
banks. When he came across a good deal, he’d purchase it himself, fix it and sell it. Initially, Rodriguez flipped two to three properties a year before reaching five and even - tually 10 annually. When the foreclosure market began to slow down between 2012 and 2014, Rodriguez decided to pivot and do more investing full-time. “I had a full-on real estate investment brokerage at that point that grew from the amount of houses I was selling,” Rodriguez’s said. “The investment side of my business was also growing. That’s when I jumped in with both feet into the deep end and said, ‘I’m going to become a real estate flipper; I’m going to move all of my money into this.’ Then I started raising capital.” Rodriguez’s first few investors were people he had been selling houses to as their realtor. When he stopped doing that and did more business on his own, they decided to partner with him. While they put up the funds, Rodriguez would find the deals, fix them and re-list the properties. It began as a 50-50 partnership before Rodriguez saved enough money that he no longer needed investors for his house-flipping venture. “I eventually said, ‘Well I don’t need you guys anymore because I have enough capital,” he said. “It was the nor- mal progression of (the fact that) I was giving out 50 per - cent of the profit but doing 100 percent of the work.” Rodriguez’s increased investing led him to creating Claremont Capital. The company, which is a debt fund, was built to help raise capital. Rodriguez currently pays out his investors between six and eight percent returns. What makes Claremont Capital unique however is it’s not a hard money company that just lends funds to others. Rodriguez created the fund for himself and is seeking capital, not partners.
22 | think realty magazine :: may 2021
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