Bryan Ziegenfuse brings 15 years of executive experience to community-focused, real estate lender, “I Fund Philly” as Managing Partner
I Fund Philly (“iFP”), based in Philadelphia, is a private lender connecting the real estate community through its platform which provides working capital to developers, investors and builders. iFP has differentiated itself from other lenders and is experiencing fast, organic growth as a result of developing a long-term, community-focused platform. I Fund Philly’s community is comprised of investors, lenders, local businesses and service providers.
Bryan Ziegenfuse formally joined iFP in December of 2018 following a diversified 15-year career as an executive across the servicing, capital markets, finance and portfolio management disciplines. Bryan brings leadership and “scalable” process development to iFP. Bryan was Vice President at Ocwen Financial Corporation where he led numerous corporate initiatives and managed key government relationships. Prior to Ocwen, Bryan held several positions at GMAC, including Director of Restructuring, Senior Fixed Income Trader and Director of Finance.
“We’re excited to welcome Bryan to I Fund Philly,” said Founder Ryan Herting. “Bryan’s vast strategic, financial and operational experience will be invaluable to the company as we work to deliver value to our investors and customers.”
As managing partner, Bryan Ziegenfuse will lead iFP’s efforts to capitalize on a long term fundamental trend in asset based lending. The team at iFP believes that we are not in the 1st innings of this shift however the market has a long way to go to become more developed. Increasing securitizations and institutional participation are helping support the product segment overall with investors closely watching the performance of the underlying collateral in those deals. Further development opportunities continue to exist within the capital markets and product itself. Additionally, with overall housing supply in balance with demand the belief is that highly desirable areas have limited “mass” development opportunities for large developers creating strong support for small and medium size developers. Through iFP’s own interviewing of local realtors in Philadelphia during December 2018 into January 2019, those local realtors continued to see strong demand for renovated homes.
In promoting a diversified skill set across the rest of the iFP team, Ryan Herting and Christopher Tereo have been developing real estate in the Philadelphia neighborhoods for years analyzing trends neighborhood by neighborhood, block by block and street by street. Having a local boots on the ground knowledge down to the micro level is imbedded into the iFP approach and processes.
iFP is focused initially in connecting the communities within Philadelphia and surrounding suburbs of South New Jersey, Delaware County, Bucks County and Montgomery County before expanding outside the area. There are numerous “sub” markets across the United States that have underdeveloped real estate communities when compared to the real estate communities in New York City, Los Angeles, Miami, Dallas, etc. Those sub-markets will be strategically analyzed and tested to possibly support iFP’s geographic expansion plans.
Later in 2019, iFP’s technology platform is planning to release the initial phase of its product which will improve the customer’s experience for traditional fix and flip investors. The fix and flip process for investors, developers and contractors can be extremely difficult to navigate. iFP’s platform will effectively bring together the sourcing, funding, managing and selling of the investments within a single mobile enabled product. Greg Jaspan, Head of Technology, will lead the product development. Greg brings a depth and talent of successful application development experience. With both Greg’s expertise and managing partner Bryan Ziegenfuse’s knowledge, I Fund Philly is heading towards a successful 2019. To learn more about Bryan Ziegenfuse and I Fund Philly, click here.
I Fund Philly’s, Bryan Ziegenfuse, Closed on Initial Funding for a Port Richmond Project Being Managed by Raza Homes Llc
I Fund Philly completes initial closing on Port Richmond project with owner Irfan Raza from Raza Homes. “We are excited about the partnership and look forward to supporting Raza Homes in reaching their investment goals for 2019,” said Bryan Ziegenfuse.
Following the arrival of managing partner, Bryan Ziegenfuse, I Fund Philly (iFP) has closed on the initial funding of a residential single-family project in the Port Richmond neighborhood of Philadelphia. I Fund Philly entered in an agreement with Raza Homes to fund both the acquisition and numerous value add repairs to enhance the value of the property. Raza Homes will then look to stabilize the cash flows of the property by securing a lease with a qualified tenant.
Through IFP’s simplified asset-based lending approach, the team at IFP was able to obtain underwriting approval within 24 hours and was able to streamline the back off processing to expedite the closing timeline. The IFP process, while currently localized to the Philadelphia region and South New Jersey, is focused on value-add steps to alleviate back and forth between the lender, title company, appraiser, realtor, seller, and buyer. The team at I Fund Philly takes a simplified approach to address customers’ challenges, as opposed to the complex and cumbersome approach of traditional lenders. One of the major challenges for members of the real estate community has historically been a lack of insight and timely communication into the status of closing. This lack of insight is not only frustrating but can delay the preparation and completion of projects resulting in significant and unnecessary costs. To address these needs, the iFP approach is rooted in total transparency throughout the lending process.
“With an abundance of competition in a crowded asset-based lending market, the Port Richmond project with Raza Homes was a thoughtful way for I Fund Philly to create value and build our relationship with a long-term real estate investor,” said Managing Partner Bryan Ziegenfuse.
Throughout 2019, I Fund Philly will continue to roll out enhancements to its platform covering many aspects of fix and flip, and construction loan management process. “Each of our scheduled enhancements is designed to streamline customer-facing processes, focusing on value-added steps as well as helping mitigate inherent risks within our asset-based lending products,” said Bryan Ziegenfuse.
About I Fund Philly LLC
About Raza Homes LLC
To learn more about the fix and flip and construction loans offered by I Fund Philly (iFP), Bryan Ziegenfuse and the iFP management team you can visit http://www.ifundphilly.com/.