Steve Hodgdon
Notes, land, and old guy who has made lots of mistakes
68 years old. Entrepreneur since 1989. A "credit man" from the old days. Note buying, selling, Started Modern Asset Management in 2007 after exiting larger business selling to a VC group in 2005. Retirement wasn't right for me. Plus the GFC really hurt!
I'm very proud of our team. My partner finishes everything I start. We have great support, smart folks and great service attitude.
We built a strong underwriting machine and have written over 7000 loans. Pivoted to JV funding land investors in 2017. Now a virtual business with a partner and team of 6.
Turned over $15 million in purchase volume since 2020. On average, our deal partners keep 65% of profits. Faster sale = better split
While I'm looking for new JV partners and folks to help, I'm also here to share mistakes I've made.
I just returned from an 11 day drive looking at problem acquisitions. All the usual suspects. Slope, wet, bad access. But also some learnings about local markets and the importance of good partners