Active Investors Seeking Long-term Partners

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Active Investors Seeking Long-term Partners

Kevin Yoo
San Diego, CA · Member since 2008 · 301 posts · 108 votes

Hi BP community. My partners and I are looking for a classic “boots on the ground” partnership. After several years of investing we have found that although there are plenty of great investor markets, it is ultimately solid partnerships that provide sustained investment opportunities.

EAC Group primarily invests in four US markets – Jacksonville, NC, Birmingham, AL, St. Louis, MO, and South Bend, IN. Although these markets all have their own sets of challenges and opportunities, EAC Group has chosen them because of one critical element they all share – an extremely reliable local team of contractors, wholesalers, attorneys, and real estate agents with whom we partner on all of our projects. We have spent years vetting these teams and building solid relationships based on a shared focus toward the long-term vision of our business plans in each specific market.

Our Needs

Our goal is to carefully vet potential ground partners in various US markets and structure partnerships that produce profitable investment opportunities. We are currently looking for Class A, B & C properties to buy and hold as well as solid fix and flip deals of both single family and multifamily homes.

Company Profile

EAC, LP is a California based Limited Partnership for real estate investments managed by two principals Kevin Yoo and John Hostetler. This company is 4 years old and is growing rapidly. Kevin Yoo is an actively practicing Neurosurgeon in San Diego, CA. He has been investing in real estate for over 14 years and has learned, from hard knocks, what a good partner is and what a good deal looks like. He has bought and sold multiple homes and currently owns a portfolio of rental properties throughout the country.

John Hostetler is currently the “workhorse” for EAC Group Investments and has been investing in real estate for 3+ years. His background is in accounting and he held a position of controller for a large company in San Diego before coming over to manage EAC full time. EAC Group has also built a reliable, well-funded private investor network, comprising approximately 20 individuals looking to diversify their holdings into the world of real estate. We have raised over $3 million in private funding in the past two years, with opportunities ranging from short-term (3-6 months) flip project paying 18-24% annual returns to medium-term (2-3 years) buy/hold projects paying 10-15% annually. We strive to structure safe investments with the highest returns possible to our investors, while building our own portfolio of rental properties to fulfill our long-term passive cash-flow goals.

EAC Group currently holds a total of 39 rental units, with several more in escrow to purchase, and also have seven properties in various states of rehab for retail sale, and is actively pursuing more. Please feel free to contact us using the information below. We would be happy to share more about our company and its plans with you.

John Hostetler, COO [email protected] 760-519-4152

Kevin Yoo, M.D., CEO [email protected] 858-449-9847

Isaac Guzman, [email protected] 619-451-5473 

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Most Popular Reply

Bob Green
Lender · Mokena, IL · Member since 2014 · 1k+ posts · 261 votes
11y

Greetings John,

I am a asset based lender, which means we evaluate the cash flow of the property rather than personal debts - No tax returns required - Bank rates/terms

This type of financing we offer is for acquisition of turn key properties or refinancing to improve cash flow, convert loans to better rate/terms or unleash equity to buy additional properties. It is not used as a rehab loan though. If a rehab is required, I would use hard money or cash and then refinance with us after owning for 90 days. In this scenario, you would be able to cash out up to 75% of the fair market value and leverage the equity for your next property. This is a program for investors who plan on a buy/hold strategy, also.

The main difference's between us and a traditional bank.

1. We offer 10 year fixed rate/ 30 year amortizations. In general, banks only lend up to 5yr/20 amortizations

2. We offer non-recourse loans - Banks only recourse

3. We do not require tax returns and do not look at your personal debts. We only care about the cash flow of the property - With banking, there is something called global debt service ratio that can kill a deal very quickly because personal debts are counted against you.

4. We allow 90 day value seasoning from the day you close. This will allow you to cash out based on fair market value with out waiting 12 months, therefore leveraging the equity to buy more property sooner than later - Most banks will not allow you to leverage the equity until property is owned for 12 months

5. We do not care how many properties you own, we can finance as many as you would us like to.

6. Minimum FICO 660 - Most banks 700 and higher

7. Cash out for anything - Most banks want to know where the cash is going to be spent

8. Minimum Debt Service ratio 1.2% NO Global Debt Service Ratio. We only look at the asset- Traditional banking count personal debts against you

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  • Ramon Jenkins
    Real Estate Agent · Milwaukee County, WI · Member since 2009 · 3k+ posts · 525 votes
    11y

    @Kevin Yoo does your company have a website ?

    0Reply
  • J Benoit
    Residential Real Estate Agent, Investor and Mentor · Birmingham, AL · Member since 2013 · 257 posts · 61 votes
    11y

    Hello Kevin,

    I'd be happy to work with you while you build a portfolio.  I provide turn key services and property management.  I have worked with John in limited fashion so please ask him about me.  My contact information is as follows:

    Decas Group

    205-982-5647

    [email protected]

    0Reply
  • Kevin Yoo
    OP
    San Diego, CA · Member since 2008 · 301 posts · 108 votes
    11y

    @Ramon Jenkins - we sure do. You can check out our site at www.eacinvestments.com. Please note it is still under development. 

    @J Benoit - Great, I will speak with John. Would you be open to a conference call with John and myself sometime this week?

    0Reply
  • Account Closed
    Involved In Real Estate · Birmingham, AL · Member since 2014 · 15 posts · 1 vote
    11y

    Hi Kevin,

    You are spot on in your statement that solid partnerships provide sustained investment opportunities. Best of luck as you grow your business. I'm in Birmingham and would love to hear more about your Alabama properties. I will get in touch with you soon.

    Deedee

    0Reply
  • J Benoit
    Residential Real Estate Agent, Investor and Mentor · Birmingham, AL · Member since 2013 · 257 posts · 61 votes
    11y

    @Kevin Yoo yes, just let me know a few times that work for you both.

    0Reply
  • Ramon Jenkins
    Real Estate Agent · Milwaukee County, WI · Member since 2009 · 3k+ posts · 525 votes
    11y

    Okay

    Thank You

    0Reply
  • Bob Green
    Lender · Mokena, IL · Member since 2014 · 1k+ posts · 261 votes
    11y

    Greetings John,

    I am a asset based lender, which means we evaluate the cash flow of the property rather than personal debts - No tax returns required - Bank rates/terms

    This type of financing we offer is for acquisition of turn key properties or refinancing to improve cash flow, convert loans to better rate/terms or unleash equity to buy additional properties. It is not used as a rehab loan though. If a rehab is required, I would use hard money or cash and then refinance with us after owning for 90 days. In this scenario, you would be able to cash out up to 75% of the fair market value and leverage the equity for your next property. This is a program for investors who plan on a buy/hold strategy, also.

    The main difference's between us and a traditional bank.

    1. We offer 10 year fixed rate/ 30 year amortizations. In general, banks only lend up to 5yr/20 amortizations

    2. We offer non-recourse loans - Banks only recourse

    3. We do not require tax returns and do not look at your personal debts. We only care about the cash flow of the property - With banking, there is something called global debt service ratio that can kill a deal very quickly because personal debts are counted against you.

    4. We allow 90 day value seasoning from the day you close. This will allow you to cash out based on fair market value with out waiting 12 months, therefore leveraging the equity to buy more property sooner than later - Most banks will not allow you to leverage the equity until property is owned for 12 months

    5. We do not care how many properties you own, we can finance as many as you would us like to.

    6. Minimum FICO 660 - Most banks 700 and higher

    7. Cash out for anything - Most banks want to know where the cash is going to be spent

    8. Minimum Debt Service ratio 1.2% NO Global Debt Service Ratio. We only look at the asset- Traditional banking count personal debts against you

    1Reply
  • Kevin Yoo
    OP
    San Diego, CA · Member since 2008 · 301 posts · 108 votes
    11y

    Bob,

    I am intrigued by your program. But a few follow up questions.

    1. Why do you have a minimum FICO score if you do not want to see tax returns or know what personal debt is?

    2. Why do you have a minimum FICO score, if it is a non-recourse loan?

    3. Why do you have a minimum FICO score, if you only look at the asset?

    4. What is the minimum amount you would lend? Most such portfolio loans require minimum $500K.

    5. What is the minimum value a property can be in your loan? Most lenders have $50K minimum.

    6. Once we have a loan in place, what do we do if we want to add more properties?

    7. What are your rates?

    8. Do you require a formal appraisal on each property?

    9. Can we mix SFH and MFH in one loan package

    2Reply
  • Dawn BrenengenBusiness Member
    Moderator
    Real Estate Broker · Raleigh, NC · Member since 2014 · 2k+ posts · 1k+ votes
    11y

    @Kevin Yoo I'm in Raleigh, NC, and I've been selling real estate for 12 years, investing for 10 years, and doing property management for others for five years.  If the Triangle area interests you at all, I'd love to talk more about your company and your criteria.  Raleigh is a great place to live and has a growing population and economy, which should lead to appreciating home values and low vacancies in rentals!  

    Podcast Guest on Show #101
    0Reply
  • Kevin Yoo
    OP
    San Diego, CA · Member since 2008 · 301 posts · 108 votes
    11y

    Dawn,

    We like North Carolina. We already own several properties in that state and have multiple fix and flips we are working on currently with couple of partners in your state. We are also in escrow for package of duplexes currently doing our due diligence. 

    We would love to go into Research Triangle. You should teleconference with our team. Please email me your contact info at [email protected] and I will have my associate Isaac set up a meeting with you.

    0Reply
  • Dawn BrenengenBusiness Member
    Moderator
    Real Estate Broker · Raleigh, NC · Member since 2014 · 2k+ posts · 1k+ votes
    11y

    @Kevin Yoo Done!

    Podcast Guest on Show #101
    0Reply
  • Kevin Yoo
    OP
    San Diego, CA · Member since 2008 · 301 posts · 108 votes
    11y

    Dawn,

    I made a typo on my email. It is [email protected]. Please send again.

    0Reply
  • Daniel K Adderly
    Real Estate Broker · Tampa, FL · Member since 2014 · 59 posts · 9 votes
    11y

    @Kevin Yoo 

    Hi I'm a real estate agent here in Tampa if yall are looking to expand here. It would be my pleasure to help in any way possible.

    0Reply
  • Kevin Yoo
    OP
    San Diego, CA · Member since 2008 · 301 posts · 108 votes
    11y

    Daniel,

    We are looking to invest wherever we can find good partners. In what way can you help us in Tampa?

    0Reply
  • Bob Green
    Lender · Mokena, IL · Member since 2014 · 1k+ posts · 261 votes
    11y

    Kevin,

    Great questions.   Are you a foreign national or us citizen?  Please respond and I will answer your questions accordingly.

    0Reply
  • Kevin Yoo
    OP
    San Diego, CA · Member since 2008 · 301 posts · 108 votes
    11y

    US Citizen. Thanks. 

    1Reply
  • Val Garrow
    Lender · Henderson, NV · Member since 2014 · 36 posts · 16 votes
    11y

    Hi  Mr. Kevin

    I am in Dallas-Fort Worth market, let me know if you need feets on the ground in this area.

    I am looking for investors that I can work with and present the leads.

    I am a rough diamond. Trust me I have what it takes. Let me know if you can add me as one of your sources on my area.

    Thank you

    ValGarrow

    1Reply
  • Kevin Yoo
    OP
    San Diego, CA · Member since 2008 · 301 posts · 108 votes
    11y

    Val,

    Thank you for contacting me. One of our best partners is in South Bend, Indiana who is a active on BP. He is a wholesaler but we find him to be a hard worker and extremely communicative. We have bought 3 or 4 deals with him and have couple under contract now. He tells us that he now has people bring him deals because he is able to perform with our backing. 

    I tell you all this because I do want people with experience but I rather have ambition than experience any day. We will help you avoid the mistakes that we have made. And if you perform for us, we can make your real estate ventures grown rapidly. 

    You should send me a deal. This will tell me one, that you are finding and two how good you are at evaluating them. But remember, you have one bullet. Make it count. 

    0Reply
  • Bob Green
    Lender · Mokena, IL · Member since 2014 · 1k+ posts · 261 votes
    11y

    Kevin,

    Please read answers below.

    1. Its part of our underwriting risk model. All lenders have some sort of a risk model they follow. Unless you are a foreign national we require a fico score, however if foreign nation we do require that you have a us bank account with at least 6 months reserves for loans under 2 million and 12 months for loans above 2 million.

    2. Same answer as #1

    3. Same answer as #1

    4. The minimum for a single unit loan is $75,000, which means the appraised value is required to be at least $100,000. For blanket loans we have a 5 unit - $500,000 minimum, however this amount will be reduced to $300-$400,000 by end of year.

    5. If a single loan the minimum value is $100,000. If a blanket loan the minimum value is $40,000, but the max loan to value for this property is 50%. Above $50,000 the max loan to value is 75%

    6. We have a 90 day seasoning policy, so after 90 days you can start a brand new loan and get 75% of fair market value. You would not add this loan to the current blanket loan. It would be a separate transaction.

    7. Rates are driven by loan to value and loan amount. They can vary from 3,5, and 10 year arms - 30 year amortizations for single loans with rates 6-7%, or for blanket loans 5 and 10 year fixed - 30 year amortization from 5% - upper 6's.

    8. Yes, of course. This will determine the value which will determine the loan amount I am able to offer you.

    9.What is MFH? Manufactured Home or Multi Family Homes? If so, we do not lend on Manufactured. Yes, you can mix SFH with multi

    Thanks for the question. You can email me directly [email protected]

    0Reply
  • Val Garrow
    Lender · Henderson, NV · Member since 2014 · 36 posts · 16 votes
    11y

    Hi Mr Kevin

    Thank you for your  quick reply and I am happy that I have a shot!

    I will contact you as soon as I get a lead and present you with the numbers.

    Thank you again!

    Val

    0Reply
  • Kevin Yoo
    OP
    San Diego, CA · Member since 2008 · 301 posts · 108 votes
    11y

    After we posted proposal for partnerships, we got a lot of interest and of course many many questions. Over the course of several weeks, we put on paper our thoughts and what we were looking for to try to comprehensively answer everyone's questions. I have attached links to our Portfolio Partnership Doc and a spreadsheet that lays out how we plan to build a portfolio with our Ground Partners. Lastly I have also attached a Rental Spreadsheet with a real property inserted that we bought. We use this spreadsheet to analyze a possible property to buy. We are asking the BP community to look at our documents and give us feedback on our model. We are particularly interested in knowing how we can make it better for our potential Ground Partners. Thank you in advance. 

    https://www.dropbox.com/s/lmt8s1pao1odoog/Portfoli...

    https://www.dropbox.com/s/89n79fc6hbtqjie/Portfoli...

    https://www.dropbox.com/s/dyr3qasx0xhgog2/Rental%2...

    0Reply
  • Account Closed
    Miami, FL · Member since 2014 · 125 posts · 7 votes
    11y

    Kevin, sent you an email if you are interested in Ohio.

    0Reply
  • Kenneth Hester
    Waxhaw, NC · Member since 2014 · 11 posts · 2 votes
    11y

    I have an excellent 48 unit apartment complex in Mobile, AL at a 12.1% cap rate with lots of upside potential.  Are you interested in Mobile, AL?

    0Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    11y

    @Kevin Yoo

      your links don't work ... how did you do in your desire to find ground partners.

    are you guys still doing this or have you scaled back or stopped all together?

    Podcast Guest on Show #222
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    0Reply
  • Kevin Yoo
    OP
    San Diego, CA · Member since 2008 · 301 posts · 108 votes
    11y

    @Kenneth Hester

    Kenneth,

    We are very much interested in multifamilies as we now want to own residential and commercial properties. So, we would love to look at the Mobile, AL 48 unit with you. However, you are in North Carolina. You obviously cannot be a true Ground Partner in Mobile. But a deal is a deal. And if this 48 unit is a good deal, we would still work with you and find a way to do it. Let me know if you want us to analyze the property with you. 

    0Reply
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