Video Transcript
We’re taking current and potential LPs in our REIT on a field trip.
We are out here visiting some of our third party originators.
We are at one who has done almost $600 million with us.
We are meeting with one of their borrowers who has done roughly 50 loans, originated through them through Roc.
So we first buy, the property was broken, it has been a distress property. Then we started thinking what we are gonna be doing?
Our first priority is to sell it as soon as possible so that we get the cash out.
Wes sit behind the desk in front of the computer all day and sometimes it’s good to see what we’re actually lending on.
This is a typical project here out on Long Island.
One of the uh, projects that I’ve worked on is the one that I’m standing in front of.
And there was a great turnaround, if you had seen this place when I first bought it, you would probably not have thought so coming into the house.
We ask the borrower can we see your property?
We really like it. And he said, I take eye sores in the neighborhood and make them livable again. And that’s really what we’re trying to do.
While this is typical, attainable, this is the type of project that we focus on.
Borrower here is a contractor and he actually spotted this property and his whole plan was to take a single family and build something more akin for the neighborhood.
So we took this house, gutted out the first wall, blew out the back eight feet with a foundation, extended it, and then we built up.
This property is representative of the work that we do all across the country At Roc360.
There’s only so much you can explain to investors over a phone call. We want to physically show them how we are bringing capital to certain borrowers who are taking this money in them,but they’re taking old, distressed, dilapidated housing stock and they’re renovating it.
And we view the services that we’re providing through the capital that we employ to many investors across the country as aiding in the mitigation of America’s housing crisis.
