Staff Menu (IO ID#: 6008):
EDIT IO DOCUMENTS
Completed Debt
Residential
St. Georges Single Family Rehab
Newnan, GA
INVESTMENT STRATEGY
INVESTMENT TYPE
Debt
Add to Watchlist
100% funded
Offered By OCG Properties
%* TARGET IRR 9.0%-%
* TARGET EQUITY MULTIPLE
Estimated Hold Period 6 to 12 months
Estimated First Distribution
*Please carefully review the Disclaimers section below, including regarding Sponsor’s assumptions and target returns
Project Webinar
Webinar coming soon
Project Summary
current
current
current
current
current
Explore this project
Overview
Management
Cumulative Distributions

OCG Properties

Owens Consulting Group ("OCG") is a professional residential rehabilitation company based in Memphis, TN that specializes in purchasing, renovating, tenanting and selling investment properties. OCG has completed over 300 transactions in the past five years alone, representing over $25 million in real estate, most of which has been held for long term growth or sold to cash flow investors.

The OCG team consists of property managers, contractors, insurance agents, certified public accountants, attorneys, title companies, funding sources, lenders, and realtors. OCG’s team has over 60 years of combined experience in various aspects of real estate investment including due diligence, acquisition, renovation, property management and sales on all of its properties, therefore increasing its efficiency and decreasing outsourcing risk.

OCG runs its own in-house property management and renovation companies in order to control and protect investors' assets more efficiently and is currently acquiring 5 to 10 investment properties per month.

http://www.ocgproperties.com
  • Mathew Owens, CPA
  • Tyler Owens
Mathew Owens, CPA

Mathew graduated from UC Santa Barbara with a B.A. in economics and an emphasis in accounting. He earned his CPA license in 2000 and specializes in real estate investments, syndications, corporate and individual taxation, business consulting and real estate consulting. He worked as a CPA, auditor and business advisor while running his own tax business before founding OCG. Matt is responsible for operations management, deal analysis, advertising, sales, accounting control systems and teaching financial literacy courses.

Tyler Owens

Tyler is the Acquisition and Finance Manager with OCG. Tyler earned his B.S. in Business Finance at Cal State Dominguez Hills. Tyler established an E-bay business in addition to working for various finance companies before joining his brother in an effort to create OCG.

Now with several years of real estate experience and his own real estate portfolio, Tyler assists in all parts of the business inlcuding the acquisition of properties, investor relations, property analysis, due diligence, property management coordination, renovation estimates, marketing, sales, accounting, bookkeeping and record retention procedures.

Track Record

Business Plan
Property

At A Glance

Property Type: Residential, Single-Family
Investment Type: Loan Purchase*
Estimated Return: 9% annualized
Loan Term: 12 months
Location: Newnan (Atlanta), GA
   
Purchase Price: $107,934
Loan Amount: $85,000
Est. Value After Repair: $160,000
Est. LTV After Repair: 53%
Est. Protective Equity: $75,000

Summary

OCG Properties is obtaining a loan for the purpose of a rehab. OCG Properties is performing renovations on the property and will look to sell as quickly as possible at a higher price than the purchase price. Renovations typically include new paint, new carpet, AC system replacement, minor plumbing upgrades, minor electrical upgrades, and general clean up items. Upon completion, the property will look like other renovations OCG Properties has executed. ​

Investors will receive interest payments of 9% with a final balloon payment at the end of the loan term. The security interest for the underlying borrower loan is a deed of trust secured by the property in first position.* 

Comparable Transactions
STREET ADDRESS PURCHASE PRICE SQUARE FOOT PRICE PSF YEAR BUILT PROXIMITY DATE CLOSED
80 St. Georges Lane $167,900 1,953 $85 1992 0.16 mi 10/11/13
180 Northcrest Drive $222,000 2,309 $96 1992 0.77 mi 09/19/13
57 Fieldstone Way $179,700 2,045 $87 1999 1.53 mi 09/05/13
39 Kingsbrook Circle $145,000 1,586 $91 1998 1.80 mi 08/08/13
             
135 St. Georges Lane $85,000** 1,775 $47 1994    

**Loan Amount

Risk Mitigation***

  • There is a personal guarantee on the underlying borrower loan.*
  • The borrower is a real estate investor with a history and a track record of success.
  • The security interest for the underlying borrower loan is a deed of trust.*
  • The underlying borrower loan is protected by title insurance.*
  • The underlying property is protected by property insurance.*
  • Investor returns are not contingent on the appreciation of the property value and investor returns do not increase based on any resale price. The borrower is still obligated to repay the corresponding borrower loan.
  • In a worst case scenario, a foreclosure of the property is possible. Proceeds would be distributed to investors according to the percentage of the total investment opportunity initially funded net of any expenses incurred for the foreclosure proceedings. 

*An investment in this loan will be made through a borrower dependent payment note issued by Realty Mogul. This promissory note is dependent on payments that Realty Mogul receives on the underlying borrower loan. While the underlying borrower loan is secured by legal title on real estate, the borrower dependent payment note is not itself secured nor does it have a personal guarantee. 

***The above is not intended to be a full discussion of all the risks of this investment. Please see the Risk Factors in the Investor Document Package for a discussion of additional risks.

Location

Atlanta is the capital of and the most populous city in the state of Georgia, with a city population that exceeds 440,000 people and a greater metropolitan area population of over 5 million. Atlanta is a primary transportation hub in the southeastern United States, with Hartsfield-Jackson Atlanta International Airport being the world's busiest airport since 1998. Although Atlanta's economy is considered diverse, the dominant economic sectors include logistics, professional and business services, media operations, and information technology. Corporate operations comprise a large portion of Atlanta’s economy, with the city serving as the regional, national, or global headquarters for many corporations. In 2012, Atlanta was home to the country’s fourth largest concentration of Fortune 500 companies, serving as the global headquarters for corporations such as The Coca-Cola Company, Home Depot, Delta Air Lines, UPS, and Newell-Rubbermaid.

The property is located within the Lakeside Way / Route 34 neighborhood, which is a suburban neighborhood located southwest of Atlanta in the city of Newnan. Lakeside Way / Route 34 real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Lakeside Way / Route 34 neighborhood are established but not old, a large number of them having been built between 1970 and 1999. A number of residences have also been built there more recently.

Photos
Financials
Documents
Disclaimers
Disclaimers

INVEST TODAY

Questions?

(877) 781-7062

Contact Investor Relations
Join RealtyMogul
Gain access to commercial real estate deals across the country
Easily review, compare and invest in deals that meet your criteria
Build the real estate portfolio that’s right for you
Potential benefits include diversification, growth and passive income
ARE YOU AN ACCREDITED INVESTOR?
Password should be at least 8 characters, contain an uppercase character, a lowercase character, a number and a symbol.
By clicking "JOIN REALTYMOGUL" you are agreeing to our Terms of Service and Privacy Policy.
Sign In
Don’t have an account yet? Join RealtyMogul
Please enter your email and password below.

Forgot Password?

Forgot Password
Enter your email address to receive a code to reset your password.
Enter the code sent to your email address below and your new password.

Resend Code