S4E5 | Ask a Private Lending Risk-Taker: Navigating Fund Creation | Brock VandenBerg & Matt Podesto

In this episode, Kevin Kim engages in a dynamic conversation with Matt Podesto and Brock VandenBerg, two successful private lenders who have taken the leap into fund management. From the early days of local hard money lending to the influx of institutional capital and white label programs, our guests provide valuable insights into the changing landscape and how it has affected the present. They emphasize the importance of proper underwriting and servicing while cautioning against entering new transactions without sufficient knowledge. Matt and Brock also share their invaluable personal experiences, mistakes made, and lessons learned, offering an inside look into their journeys. They dive into the challenges of scaling a lending business, the significance of segmenting functions, the importance of choosing the right partners, and the need for good service and ethical lending practices in the industry. Get ready to dive deep in this captivating episode of Lender Lounge.
Brock VandenBerg established TaliMar Financial in response to elevated uncertainty within the banking industry and to provide an innovative alternative to the restrictive practices of traditional lenders. With more than 14 years of experience in real estate finance, Mr. VandenBerg has earned the trust and respect of a strong network of clients and business partners. Mr. VandenBerg’s experience includes serving as Vice President of KeyBank’s Private Equity Group, where he assisted in funding more than $200 million in mezzanine debt and joint equity investments, and three years with the FDIC, where he supervised the orderly dissolution of failed financial institutions and was responsible for the sale of more than $500 million in performing and non-performing loan assets on behalf of the FDIC.
Matt Podesto has been involved in real estate since 2016, where he initially partnered with other investors to fix and flip properties throughout Texas. In 2018, Black Label Capital was founded to deploy personal capital on the side as a true private lender while still being involved in renovations. After gaining the attention of several investors, Black Label Capital eventually evolved into a day-to-day operation deploying personal and investor capital. As the CEO and Fund Manager, Matt manages the debt fund, asset management, loan sales, construction draws, marketing, capital raising and investor relations. Matt is also a former U.S. Marine Corps Scout Sniper, serving several combat deployments overseas, until being Honorably Discharged in 2009. Matt continued his service overseas for the next 7 years, providing Diplomatic Security for the U.S. Department of State, and most notably serving on the U.S. Ambassador's Protective Detail in both Iraq and Afghanistan.
Key topics
[00:03:11] Matt and Brock explore their entrepreneurial journeys
[00:05:19] A lottery winner's successful transition into private lending
[00:13:18] High net worth individuals and private lending strategies
[00:17:50] Strategies for segmenting business, outsourcing specialized aspects, and employing knowledgeable people
[00:21:28] Local lenders are adapting and thriving against growing national competition
[00:25:02] Recent transformations in private lending shifting focus from hard money lending to diverse practices
[00:29:57] Texas's lending landscape
[00:31:42] Borrowers' increasing need for private lenders to fulfill specific requirements
[00:36:10] Exploration of capital management, loan strategies, nationwide scalability, and market and portfolio construction
[00:41:39] Investors uniting and transitioning seamlessly into a fund model
[00:43:23] Successful fund launch with trustee investors and accomplished transition
[00:49:16] Wisdom and advice for newcomers to the lending industry
[00:53:50] Friendly competition, abundance mindset, camaraderie thriving in the industry
Links
Learn more about Black Label Capital at blacklabelcapi...
Learn more about TaliMar Financial at www.talimarfin...
Learn more about Geraci Law Firm at www.geracilawf...
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[@HExHEI-dq5lz]

Fantastic interview. I still call it "hard money" too. I think it better differentiates the sector. But in another few years there won't be anyone left that remembers that label. Carry on. Great information Kevin. Mark Hanson