Real Estate Entrepreneur Supporter | Passive Income Warrior
Atlanta, GA
Joined January 2012
- Tweets55
- Following577
- Followers210
- Likes100
Huge congrats to my friend, classmate and fintech mastermind @RSerna2010!! Looking forward to seeing where @finix goes from here!!!
Today @finix is excited to announce we’ve raised $75M in Series C funding led by @AcrewCapital, co-led by @lightspeedvp and @leappartners.
When we started Finix, we were big believers in the developer movement. We still are! Since then, we’ve recognized that there’s been a major shift in the market. Even businesses that have developers don’t want to spend their time or resources on payments — they want highly brandable and configurable payment components. From startups to publicly traded companies, merchants to vertical SaaS companies, customers of all sizes are taking advantage of Finix’s no-code solutions. Today, every feature in Finix's broad product suite is now available in no-code, low-code and API-driven solutions.
If Adyen is for the enterprise, Square is for card present SMBs, Stripe is for the developer-centric startup, Finix is for the 22M businesses without enough developers.
Read more here: hubs.ly/Q02VFwNl0
Derrick Barker retweeted
I spoke to @walkerskaar yesterday. He works for a small balance mezz/pref investor called Nectar.
They’re looking to fund $100K-$2M checks secured by a mezz/pref position in stabilized cash flowing assets. The thought being that they’re providing quick liquidity (closing in 5-7 days) to real estate owners that may need the capital for other acquisitions, refi's, or smaller rehabs.
They can go larger than $2M, but it would take 30-45 days instead of 5-7 days.
One thought that comes to mind where this may be particularly useful is a scenario where an owner has an over-levered property with an upcoming maturity that's going to require a paydown to close a loan modification/extension. If they also have another property in their portfolio that's under-levered with strong cash flow, they could potentially use Nectar's program to pull out up to $2M of cash to help fix the problem on the first property.
Derrick Barker retweeted
Even the best real estate operators need liquidity right now.
I'm raising a fund at Nectar to provide that liquidity to top operators. We do that through working capital loans and pref equity to real estate entities with low leverage, stabilized properties.
Experienced owners/operators/GPs need capital for things like:
- purchasing rate caps
- small reno/construction/maintenance projects
- pursuit costs (if not now, then soon!)
and tons of other flexible needs.
We've proven out a model at Nectar that allows us to provide this liquidity in a way that mitigates many risks for investors in real estate debt (like hard money funds).
- No refi or balloon payment risk (we are fully amortizing)
- No construction or lease up risk (we only work on stabilized properties)
- Minimized operator risk (require 3+ years experience)
- Minimized asset price volatility risk (portfolio LTV is 47%, our last dollar)
If you are an accredited investor and would like to know more, my DMs are open.
We're also hosting an investor town hall this Wednesday. DM to be added to the invite.
Derrick Barker retweeted
The Crowdstreet situation is WILD. They literally released funds to the GP months before closing.
Not escrow. Not toward closing.
Just sent the funds to the GP. And the money just disappeared. So crazy!
Derrick Barker retweeted
@Dbark17 joined the @experimentbnb podcast to talk about his real estate journey, and the new solution Nectar offers to investors like himself. Hear the full interview now on YouTube or wherever you listen to podcasts: hubs.ly/Q01whVpN0
Derrick Barker retweeted
Have you registered for Thursday's “Building Your STR Portfolio” webinar with BeachBox, @rabbuhq and Nectar? Reserve your spot today at hubs.ly/Q01r1S9k0.
Derrick Barker retweeted
We're excited to be part of an all-star webinar tomorrow! Come hear our CEO, @EmirDukic, chat with @usenectar's CEO, @Dbark17, and a sizable investor in the #STR space about all things building & scaling STR portfolios.
Have you signed up yet? Hope to see you there!
Have you registered for Thursday's “Building Your STR Portfolio” webinar with BeachBox, @rabbuhq and Nectar? Reserve your spot today at hubs.ly/Q01r1S9k0.
Great chat with Colin at Revedy and Justin at Proper about regulations and the STR industry! linkedin.com/posts/activity-…
No industry only goes up and to the right forever so I imagine that Powell is coming for this industry as well. The performance of STR so far is impressive though and is indicative of a change in the way that people are living their lives and using space.
Derrick Barker retweeted
What does it actually mean to sell your cash flow to Nectar? Our CEO @Dbark17 answers this question and more on today's episode of @flippingamerica
Listen now at
hubs.ly/Q01n3rZw0
Derrick Barker retweeted
Check out mynectar.co/
Like @pipe for STRs
They're in our techstars cohort (Demo Day Monday night). Crazy smart founders with deep RE experience.
Happy to make intros, hit ny DMs!!
Monitor and control your caffeine intake, or constantly replace sleep with macchiatos? buzzfeed.com/regajha/everyda… via @regajha
Derrick Barker retweeted
#1: Columbus Day should celebrate the fact that America was conquered and not 'discovered'.
Derrick Barker retweeted
284,000 U.S. college grads worked minimum-wage jobs in 2012. 37,000 with advanced degrees. on.wsj.com/X8AiJ9
Derrick Barker retweeted
"If an elementary school student has an excellent teacher even for 1 year, it boosts their income by ~2% per year" hvrd.me/HzqL2J