BUSINESS OVERVIEW

Capital Plus I, Ltd. (“Capital Plus”, “CPI” or the “Company”) is a real estate investment firm and direct mortgage lender specializing in the single family, owner occupied residential markets of Texas. The Company was founded by seasoned real estate investor, Robert McKinney, in 1992 and is headquartered in Bedford, Texas. Capital Plus specializes in providing residential property rehabilitation and lending services, including origination, acquisition, loan processing, warehousing, and servicing of owner occupied residential loans. CPI owns, holds, and services the loans it originates.

Capital Plus purchases distressed single family properties for well below market prices which it rehabilitates and modernizes for resale to borrowers across the state. CPI’s typical customer is a low to moderate income family. CPI provides financing to qualified buyers , typically low to moderate income families. As of December 2013, the Company owns and manages loans secured by almost 500 owner-occupied properties.

Since the credit crisis, the Company has focused on strengthening its relationships with financial institutions by remodeling bank-owned properties and assisting with the properties’ sale. CPI has remodeled approximately 65 houses, ranging from $130,000 to $2 million in post repair value, for several banks since 2007. These properties can typically be classified as residential real estate foreclosed on by the bank from either builders or owner occupants. CPI currently restricts its services to relationship banks, where they have outstanding lines of credit, but plans on expanding its remodeling business to include other banks and owners of Real Estate Owned (REO) properties.

Geographical Presence

The Company operates in south central Texas, with approximately 63% of its portfolio located in Dallas and Tarrant counties. The Company’s home portfolio by county is shown below.

Geographical Presence

Historical Milestones

1992 In 1992, Capital Plus was founded by Robert McKinney. The Company’s initial business model consisted of purchasing residential real estate, remodeling the properties, and then selling them to owner occupants. After the sale, the secured homeowner loan was sold directly to a third party note buyer.
2001 In 2001, the Company leveraged its strong track record and firmly established relationships with banks to gain access to low cost financing. CPI’s cost of capital decreased from 22% APR to approximately 6%. This allowed the Company to increase the volume of its real estate acquisitions backed by an increase in its warehouse lines of credit. The Company hired Mark Crockett, its current CFO. 2006 In 2006, the Company began selling unseasoned notes on the secondary market.
2006 In 2006, the Company began selling unseasoned notes on the secondary market.
2007 In 2007, Capital Plus I Ltd. achieved its most significant milestone, when the Company stopped selling its notes to investors on a monthly basis and began to portfolio its notes. The Company was able to leverage its proven track record and strong business model to provide direct financing to consumers despite the sub-prime mortgage crisis.

2011 -  
Present    
Capital Plus is now one of the largest private direct lenders of owner occupied residential real estate notes in the State of Texas. The Company continues to grow its footprint and will continue to provide single family, affordable residences directly to consumers.

 

 

Property Purchasing Staff

Dallas/Ft. Worth Metro

Greater Houston/San Antonio

 

 


Who We Are

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