We just passed the 8 year anniversary of Longhorn III Investments’ funding its first loan. I wanted to share a little history and thank a few folks who have contributed to Longhorn’s success along the way.
It all began with my mother and I funding the first loan for $142,000. Neither of us knew much about the business, but we saw an opportunity and decided to take a chance. This was the beginning of Longhorn. Merrill Kaliser was my law partner at the time and we thought that hard money lending might provide a nice supplement to our firm. Longhorn originally raised capital for each deal individually. It was difficult, but we hustled and worked hard to prove ourselves as good stewards. We eventually formed a fund called Trident Realty Investments and have been fortunate to have a fantastic group of investors, many of whom started with us in 2008. We never dreamed Longhorn would grow into a $54M loan portfolio. $100M here we come!
Great people are always a catalyst for growth. Our initial team of hires including Chris Friedl, Chris Jameson, and Frances Friedl, were instrumental in helping Longhorn hit initial thresholds and build a foundation in the marketplace. We are forever grateful for their contribution.
Every business has another level it can attain and change is often the catalyst for reaching new heights. Longhorn has seen a lot of change and we embrace it. This change has been led by the one constant in our business over the last four years, our COO Jeremiah Garza. Jeremiah has combined technology expertise with real estate knowledge that is unsurpassed in the lending industry. Through his leadership we are not just a lender, we have become a true resource in all areas of real estate for our clients.
Looking to the next 8 years I see more growth and opportunity for Longhorn. We have expanded into four states and are evaluating new markets now. Our sales team, led by Jon Shipley and Eric Feldman, are building consistency and depth in our production. Our processing team, headed by Lynde Rodriguez, is stronger than it has ever been. Our financial strength has never been greater, headed by our controller, Chris Collins.
Of course, none of our success would have been possible without each and every borrower giving us an opportunity to earn their business. Investing in real estate is not for the faint of heart. We understand the risk that these endeavors entail. We truly appreciate each of you allowing Longhorn to be part of your real estate investing team.
Longhorn III Investments is poised for great things moving forward. We have never been in a better position financially or more prepared to help you. We can’t wait to fund your next project!
Thank you all so much,
Michael Hoffman, ESQ