Philadelphia based real estate lending firm I Fund Philly sees success with the arrival of Bryan Ziegenfuse
In December of 2018, the Philadelphia real estate community welcomed the arrival of Bryan Ziegenfuse to the innovative real estate lending firm I Fund Philly (iFP) as a managing partner. Now, just a few months after Bryan Ziegenfuse’s arrival, I Fund Philly has closed on the initial funding of a residential single-family project in the Port Richmond neighborhood of Philadelphia, Pennsylvania.
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 is now looking to stabilize the cash flows of the property into the future by securing a lease with a qualified tenant. The Philadelphia community has taken note of Bryan Ziegenfuse’s immediate contributions.
Bryan Ziegenfuse joined iFP in December of 2018
Following a diversified 15-year career as an executive across the lending, capital markets, finance, and portfolio management disciplines. Prior to iFP, Bryan was Vice President of Strategy at a large non-bank mortgage company where he led numerous corporate initiatives across risk management, capital preservation, customer experience, and asset management.
Additionally, Bryan managed key government relationships for the company. Prior, Bryan held several positions at GMAC Mortgage from 2005 to 2013, including Director of Restructuring, Senior Fixed Income Trader and Director of Finance. Bryan Ziegenfuse holds a Bachelor of Science in Finance from Pennsylvania State University.
I Fund Philly and Bryan Ziegenfuse are facilitating three specific types of loans in the real estate community through their website – bridge loans, construction loans, and rental loans. Bridge loans consist of short-term financing to help customers remarket, reposition, or refinance projects.
The construction loans are intended for customers looking for financial support of projects that require upgrades, rehab, and renovations. Finally, members of the community looking to build a rental portfolio can apply for loans to grow the number of properties generating income. While currently focused on a few markets in the northeast, Bryan Ziegenfuse and IFP plan to expand across the country, starting with regions down the East Coast.
Through Bryan Ziegenfuse and IFP’s simplified asset-based lending approach, the team at IFP was able to obtain underwriting approval for the Port Richmond project within 24 hours and was able to streamline the back off processing to expedite the closing timeline. The IFP process, which Bryan Ziegenfuse helped master-mind is focused on value-add steps to alleviate back and forth between the lender, title company, appraiser, realtor, seller, and buyer.
Bryan Ziegenfuse and the team at I Fund Philly
Take 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.