Warren Ifergane is a well-known figure in the private lending real estate space. Boasting past executive roles in the PE space, he started ICG10 Capital in 2015 with the sole intent of providing faster, cheaper, and higher-leveraged loans to real estate investors—mainly flippers, landlords, and developers.
“With ICG10, I’m consistently getting 90% of the purchase price plus 100% of the rehab on my flips—and at single digit interest rates. They’re ridiculously good to me.” says Jessie D.
ICG10 Capital has become a fast-growing juggernaut in the private lending space, and they are beating their competitors on terms and speed. In 2019, they funded over $100 million in loans, and the expectations are even higher in 2020—yes, even with the COVID-19 pandemic.
“We’re eternally grateful to the mortgage brokers and real estate investors that choose us as their funding source. At the end of the day, it’s a relationship business, and most of our deals are repeat. That enables us to close deals faster, and at more competitive terms. Our terms are even more aggressive than pre-COVID, which should say a lot about our confidence in the market” claims Mr. Ifergane.
Real estate investors use private money to make quick offers on flips and rentals, and still close in two weeks. If they used a bank, these investors would likely loose their deals to all-cash buyers. ICG10’s loans are also foreign national-friendly, and particularly high-leveraged—which separates their products from that of a bank.
Even ICG10’s competitors can’t keep up with their speed and competitiveness. This has allowed ICG10 to experience double-digit growth in a space that has become even more saturated as of late.
During the pandemic, many firms stopped lending altogether. ICG10 Capital continued to deliver stellar financing to its borrowers, and as such, has a very loyal base.
For more information, visit ICG10.com