Brokerage to Suburban Acquisition/Disposition of Distressed Homes -
Former AC Lawrence Principals Larry Friedman and Frank Sanchez announced the opening of their new firm SDF Capital LLC, focused on the acquisition and disposition of distressed homes.
With its headquarters in Westchester County’s Mamaroneck, SDF Capital works with home sellers and properties in New York, Connecticut, Pennsylvania and Florida.
“Larry and I wanted to be fully immersed in the investment sector of the business, to buy real estate and trade bigger deals. Our past business experience carries over to our new business; similar skill sets involved are: managing seller expectations, sales, closing deals, managing people, as well as managing deal flow and cash flow,” said Sanchez, Co-Founder and Principal, SDF Capital. “Larry and I bring different and complementary skill sets to the business. We buy mainly distressed properties and help sellers out of bad situations. We add value to the property and resell it or wholesale the property to other investors. We improve the neighborhoods where we buy.”
The company identifies homeowners who wish to sell but are finding it difficult to do so through traditional means, often as they cannot make repairs required to pass an inspection necessary for a buyer to secure purchase financing. SDF Capital can bypass these issues by purchasing with their own assets, all cash, making it possible for the owner to close within 30 days, or when best suits their moving timeline.
Upon closing the sale, SDF Capital then renovates the home, which is often in disrepair and an eyesore in the neighborhood, and sells to a new homeowner. The firm also sells unrenovated homes to investors, providing them with a report on suggested upgrades and mandatory infrastructure repairs, such as to the heating, plumbing, foundation, roof and electrical systems. With its extensive marketing campaign to homeowners, SDF Capital has access to homes not available to those simply searching listing services, and at deeper discounts, making them a valuable resource to investors without that reach.
Sanchez and Friedman previously built AC Lawrence from a boutique rental and sales brokerage of five agents in Manhattan to a firm of more than 500 agents, eventually merging with Bellmarc and being ranked in the Top 10 Brokerages in NYC, then becoming a franchise of Coldwell Banker, before parting ways with the firm and their new partner.
Throughout their careers in NYC real estate brokerage, they were drawn to acquisitions and the need in the suburbs both by homeowners hoping to sell but encountering stumbling blocks, and of buyers seeking renovated, move-in ready single family homes at reasonable prices, in a market lacking in such inventory.
“We felt the suburbs, with their close proximity to NYC, had the greatest growth potential, with lower price entry points and more opportunities,” said Friedman, Co-Founder & Principal, SDF Capital. “I have an accounting and finance background, so I am very comfortable with the numbers, including valuation and projections. I also had 10 years of experiencing growing a firm from startup to one with over 500 agents, so I have deep operational experience. These skills translate well into the real estate acquisition business.”
SDF Capital has begun closing on its first transactions and projects a pipeline of up to 60 project properties in 2017.
ABOUT SDF CAPITAL LLC
SDF Capital LLC is a real estate investment firm focused on acquiring distressed and undervalued assets primarily in New York, Connecticut, Pennsylvania and Florida. Its goal is to have a positive impact on the communities where SDF invests. Co-Founders and Principals Frank Sanchez and Larry Friedman aim to create mutually beneficial situations for their sellers, clients, lenders, buyers and the overall community. Unique in the industry, SDF Capital identifies, acquires, repositions, renovates and wholesales properties, as well as maintaining a rental portfolio. For more information: www.sdfcapitalllc.com
