• BLOG

    Latest updates on financing, submarkets, and transactions.

    Summary of Costar data and analysis of Multifamily market with focus on Texas. National Occupancy=93%; Forecasted to increase to 94% over next few years. Unemployment at 4.4%. Rent Growth=2.5%; (Avg. rent=$1,379) continues to slow as supply has increased. Rents are falling in energy reliant-...
    Over 450 multifamily investors attended the Old Capital Multifamily Conference on October 5th in Dallas, TX. The conference featured panels with listing brokers, property management companies, lenders, and owners. The conference concluded with a keynote from Navy Seal Robert O’Neill. Comments...
    April 28, 2017 · Real Estate,Mark Dotzour
    Over 350 investors attended the Old Capital Speaker Series event April 26th in Grapevine with Mark Dotzour. Here are my takeaways from his presentation: 1) Interest rates are driven by 10 year treasury not the Federal Reserve Fannie and Freddie loans, which are both forecasted to do over $50B...
    The obvious and immediate impact of rising interest rates are:Increase borrowing cost for investors.  Post-election the 10 year treasury increased 60bps from 1.75%-2.35%, which increased borrowing costs from 4.40% to 5.00% on a typical 10 year loan.Decreased leverage as loan proceeds are...
    Excerpts from Seth Godin’s book: · The Dip is the long slog between starting and mastery. · Organic chemistry is the dip for pre-med students. · The dip creates scarcity and scarcity creates value. · Biggest mistake in school is being well rounded is the key to success. How often do you look for...
    Many investment brokers state in their offering memorandum that the property has good “bones”. What does that mean and why does it matter for you as a multifamily investor? There are some things in a property that you cannot change or it is very cost prohibitive to change. If you want to move up...
    Texas multifamily property prices have continued to rise as rents and occupancies continue to increase.  Many investors locked in long-term fixed interest rates on Fannie, Freddie and CMBS loans in the past few years.  After completing their business plan whether it was exterior and interior...
    One of the advantages of multifamily financing is the ability to get non-recourse loans with fixed interest rates for up to 5, 7, 10, 12, 15, or even 30 years.  Most investors are using Fannie Mae, Freddie Mac, or CMBS to achieve fixed interest rates throughout their hold period.  The...
    Begin with the end in mind.  How are you going to exit your investment?  What challenges will your buyer encounter when you sell the property? This article will look at three investment strategies and the ideal debt for each strategy. 1.  Value Add- Fix, Lease Up, Sale/Refinance.  Investment...
    What determines if a multifamily is a Class A or B or C? Is it the location, the year built, the property and unit amenities, the building characteristics, or tenant base? In this article, I am going to walk through what determines the class of a property, what they are trading for in today’s...
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  • We provide financing solutions to multifamily investors with a focus on Texas.

    Investors trust us with their acquisitions and refinances because they receive:

    Execution Certainty

    We work with you to structure the loan and sponsorship group correctly up front.

    Best Loan Terms and Rates

    We close multiple loans per month with the best lenders. We have done the negotiating for you. While you might close 1 or 2 loans per year, we close hundreds.

    Time Savings

    We know who is lending in today’s market, in what submarket, and on what type of properties. Your earnest money is at risk and you have a chance of losing the deal if you do not select the correct lender early in the process.

    Experience of a Underwriter

    Over 10+ years underwriting commercial properties with a national lender and closing over $750MM in loans. I know exactly what the bank needs, when they need it, and why they need it. I have been on the other side of the table and I walk you step by step through the loan process.

    Inside Information

    We specialize in multifamily and especially properties 50-200 units. We know who sold it, financed it, rehabbed it, managed it, and owned it. We are a key member of your team. Get us involved early in the process so we can help you win and close the transaction.


    Sign up on the e-mail list for Multifamily Financing Starter Kit.

    It contains the following documents:

    1: 3 Ways to Invest in Multifamily

    2: How Apartments Get Financed

    3: How to Choose the Best Loan

    4: How to Create your Sponsorship Group

    5: How to Get your Equity Out

    FREE DOWNLOAD: Multifamily Underwriting 101- How to underwrite each line item of a P&L to get your NOI.


    James Eng

    James' current focus is investing and financing multifamily in Texas. He is a partner in over 2,800 multifamily units in TX across 11 properties and arranges financing on over $150MM in TX multifamily properties every year.


    He started his career at GE Capital underwriting over $750MM in commercial real estate loans throughout Texas and completing GE's Financial Management Program.


    He was born and raised in Houston, TX, and received his BBA in Finance from The University of Texas at Austin. He is married with 3 boys and lives in the Northern Dallas suburb of Frisco, TX.

  • Recommendations

    "James was simply incredible in helping me and my business partner obtain financing on our first major apartment acquisition. He made possible what we had previously believed was impossible given our limited prior apartment business experience. James was able to secure a non-recourse Fannie Mae loan of $3.52MM which was at full 80% ARV, along with the massively valuable step-down pre-payment schedule instead of yield maintenance, 3 years interest-only period, and a very competitive 10-year fixed interest rate of 4.83%. Not only were we amazed that James was able to provide us a non-recourse agency loan, but just prior to closing he was able to negotiate the step-down pre-payment which could potentially save us hundreds of thousands of dollars on sale of the property.

    In addition to James's incredible ability to obtain very favorable loan terms, he was a dream to work with at every level. He is highly engaged, a superb communicator, highly detailed oriented, and a deep source of knowledge and experience. James was with us on all the paperwork and communications from start to finish. His response times to phone calls and emails are unparalleled. He was one of the first to contact me when closing was completed.

    I cannot overstate the value and quality that James brings to the table. Simply put, he sets the standard for client satisfaction and service quality. There is no doubt in my mind that James is a permanent member of my multifamily acquisition team. “

    Ryan Fong, GP of 46West Apartments, LLC

    "James helped us for the loan assumption and supplement loan to acquire 260 units of multi-family properties in Irving, Texas. Due to the original loan structure, the deal must be closed within 50 days, which puts a high amount of pressure on me and my partner. James relieved a significant portion of stress by demonstrating tremendous wealth of knowledge in lending and gave us the confidence that he could help us close the deal within the given time-frame. He even worked very hard to close the loan earlier. He walked through units together with us when we were doing due diligent. At the property, he accompanied with us when the lender came out to do the inspection. He even pushed the underwriter to come out to do inspection one week earlier than planned. James always responded very quickly whenever we needed something. He was responsive on the phone no matter how late we called him and was able to help us get more than the loan amount that we had originally expected. We felt extremely fortunate to have James on our team. With James’ help, we were able to close the transaction in 44 days after our LOI was accepted. There is no way we could have done it without his help! James' confidence, knowledge, diligence, professionalism, and leadership made the stressful loan process very easy for everyone who was involved. Thanks again James! I would highly recommend James for real estate investors seeking commercial loan. “

    Tim Lin, GP of TS Asset Tierra LLC

    “James is really fantastic to work with. He helped me secure a 6.8 million Fannie Mae loan for a multifamily acquisition and made the whole process very smooth and painless. In this particular transaction, James got me $800K more in loan amount than a couple of other lenders I was working with and proved yet again that all lenders are not created equal. James demonstrated exceptional knowledge in lending and has been very diligent and very personable work with. He quarterbacked the whole transaction and kept everyone involved on their toes and closed the transaction smoothly. Thanks to James, I haven't had one thing to worry the whole time due to his crystal clear communication at all times.”

    Venkat Avasarala, GP of 6816 West Bethany Home Road LLC

    “We closed on a 78 unit property last week, and got a 75% LTV loan through James Eng that was 4.5%, only a 1% early refi penalty, and NO prepay penalty if we were to sell. This included 75% of a $5700/dr rehab budget. The deal wouldn't qualify for agency debt due to very low occupancy and heavy rehab needed, so James got us a great bank loan. We barely even had financials so it's pretty impressive that James was able to pull that off.”

    Tom Lafferty, General Partner RP 503 LLC

    "James was a tremendous wealth of knowledge for me and my team not only throughout the process, but also prior to us even getting a deal. He patiently answered all of our questions prior to even having a deal under contract, and that patience, knowledge, and helpfulness was ultimately the reason we went with James and Old Capital for our debt financing. Once under contract James kept me and my business partners on track throughout the process and helped handle issues not only with the bank, but with the other parties on the deal as well. I would highly recommend James for any new or seasoned commercial real estate investors looking for a mortgage broker who will get you the best possible debt, and help get the deal closed."

    Ben Suttles, Managing Director of Valorem Investment Partners

    "James Eng is results driven, detail oriented, a great communicator and consummate professional. He exceeded expectations with his deep knowledge of the business and tenacity to ensure all parties were always on the same page. James was instrumental in the successful and smooth closing of my first commercial loan of $5.2MM dollars. – in fact we closed 5 days early with an amazing rate! He was always ready and willing to answer any questions I may have – day or night and really went the extra mile and gave me excellent service. I could not be more pleased with him for doing such an outstanding job. Thank you James, looking forward working with you again soon! “

    Andre Segura, GP of Los Robles

    "James' proactive mindset is what sets him apart from other mortgage brokers. What can be a daunting process loaded with challenges, James' leadership abilities with all stakeholders’ drives them to resolve those challenges actively along the way. My apartment financing was no exception, yet James' constant diligence, tempered with professionalism, put everyone at ease and got the job done. Thanks again James."

    Doug Pereyda, Director, PMO, Chegg Inc.

    "James did a fantastic job overseeing and helping execute a refinance deal (over $1M) for our multi-family property in 2015. He was very organized and kept the deal moving. He was able to identify what needed to be done and wasn't afraid to do it himself. I would highly recommend James for any investment real estate deal."

    Taylor Parker, Property Manager, Partner, Investment Real Estate

    "James was instrumental in helping us close on our first multi-family apartment complex. He was helpful in describing the financing process and kept us informed throughout. He was diligent in staying in communication with us and we really appreciate his personal availability. I would definitely recommend working with James! “

    Angie Rackler, NA & LTAM Sales Consultant, Global Sales Learning Delivery, Intel Security


    Old Capital Podcast

    James Eng interviewed on Old Capital Podcast about CMBS.

    Wealth Formula Podcast

    James Eng was recently interviewed on the Wealth Formula Podcast with Buck Joffrey. He discusses the current interest rate environment, financing for multifamily properties, and the impact of rising interest rates on multifamily investors.

    Lifetime Cash Flow through Real Estate Investing Podcast

    James Eng was recently interviewed on the Lifetime Cash Flow through Real Estate with Rod Khleif. He discusses the differences between Fannie Mae and Freddie Mac, how to find a mortgage broker, and how to close a deal in less than 60 days.

    The Corporate Investor Podcast

    Do you have a good corporate job? Are you looking to create a second stream of income through real estate investing? Matt Nusbaum talks with James Eng about the ins and outs of getting a commercial real estate loan and the best ways you can prepare. We also dive into why James enjoys being a passive investor and what he looks for in a good deal.

    Best Ever Real Estate Investing Advice Podcast

    When you’re looking to take the leap into buying large multi-family properties listen to this interview with James Eng and Joe Fairless.

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