Capital Plus I, Ltd. (“Capital Plus”, “CPI” or the “Company”) is a real estate investment firm and direct mortgage lender specializing in the single family, owner occupied residential markets of Texas. The Company was founded by seasoned real estate investor, Robert McKinney, in 1992 and is headquartered in Bedford, Texas.
Capital Plus specializes in providing residential property rehabilitation and lending services, including origination, acquisition, loan processing, warehousing, and servicing of owner occupied residential loans. CPI owns, holds, and services the loans it originates.
Capital Plus purchases distressed single family properties for well below market prices which it rehabilitates and modernizes for resale to borrowers across the state. CPI’s typical customer is a low to moderate income family. CPI provides financing to qualified buyers , typically low to moderate income families. As of December 2013, the Company owns and manages loans secured by almost 500 owner-occupied properties.
Since the credit crisis, the Company has focused on
strengthening its relationships with financial institutions
by remodeling bank-owned properties and assisting with the
properties’ sale. CPI has remodeled approximately 65 houses,
ranging from $130,000 to $2 million in post repair value,
for several banks since 2007. These properties can typically
be classified as residential real estate foreclosed on by
the bank from either builders or owner occupants. CPI
currently restricts its services to relationship banks,
where they have outstanding lines of credit, but plans on
expanding its remodeling business to include other banks and
owners of Real Estate Owned (REO) properties.
The Company operates in south central Texas, with approximately 63% of its portfolio located in Dallas and Tarrant counties. The Company’s home portfolio by county is shown below.