Calabasas, CA 91302
Mark Kanter graduated from the University of Southern California in 1989, earning a Bachelor of Science degree in Business Administration with a focus on Real Estate Finance. After graduation, Mr. Kanter took a position as an Associate Broker with Marcus & Millichap, a national real estate investment brokerage firm where he worked for three years focusing on the sale of apartments and shopping centers. In 1992, when the California real estate market was suffering through a recession, Mr. Kanter left M&M to form Assessment Appeals Group, a firm specializing in property tax representation. In 1997, AAG was dissolved, yet the consulting firm still exists today under the dba of Assessment Appeal Advisors. These firms have been successful in represented thousands of property owners in contesting unfair assessments. During this time, Mr. Kanter also formed Commercial Realty Consultants, Inc. CRC is a commercial loan brokerage firm enjoying a strong reputation amongst regional Banks and Institutional Lenders. In 2009, Mr. Kanter along with Ed Fischer and Randy Van Dueck formed Private Mortgage Fund, LLC for which he serves as a Principal owner and Chief Financial Officer of the Manger.
In addition to the above companies, Mr. Kanter has been an active real estate investor since 1993. His real estate portfolio consists of commercial properties and apartment buildings in Los Angeles, Orange County, Sacramento, Phoenix and Las Vegas.
Edward Fischer has been active in the Southern California real estate market since 1989. In the 1990's, Mr. Fischer represented several local and national lenders in the pricing, evaluation and disposition of their multifamily and commercial assets, while gaining experience in the foreclosure process, workout situations, short sales and the management/receivership of these assets.
Prior to joining Delson/Norris Investment Properties, Mr. Fischer was the Director of Acquisitions for a large privately-held development company, and also the "in-house" broker for a large private income property investment firm. Since joining Delson/Norris In 1993, Mr. Fischer was a top producing income property broker in Southern California and became a named partner of Delson/Norris in 2003.
In March 2009, Delson/Norris/Fischer was acquired by Hendricks & Partners. Hendricks & Partners is a national real estate advisory firm. Mr. Fischer has been involved in the ownership and management of several income properties since 1994 and has been investing in private money trust deeds since 2003. As an active investor in trust deeds, Mr. Fischer's primary focus has been on property value analysis and underwriting, deal structuring, investor relations and overseeing day-to-day servicing issues. Mr. Fischer received a bachelor's degree in Real Estate and Economics from the University of Arizona in 1989 and currently holds an active California broker's license. Ed is a co-founder and one of the principal owners of Private Mortgage Fund, LLC. Since its inception in September 2009, Ed has also served as President of the Manager, PMF Managers, Inc.
Randy Van Dueck began his career in real estate in 1985 with First American Title Company, starting as a Customer Service Representative, moving his way up the ladder as a Junior Title Officer, Sales Representative and Subdivision Builder Representative. In 1989 , Mr. Van Dueck left the Title industry for lending where he held several positions as a Loan Officer for Great Western Bank and Branch Manager for two other privately held mortgage brokerage companies. In 1994, Mr. Van Dueck formed Regency Mortgage Group, a boutique mortgage brokerage and private lending company. In 2000, Mr. Van Dueck started Horizon Mortgage Bankers and Horizon Direct Escrow. Serving as President, he grew both companies to a staff of 150 employees and loan origination volume exceeding $3.0B annually. Dating back to 1986, Mr. Van Dueck has been involved in all aspects of the mortgage industry, including private lending, underwriting, title, escrow and servicing. Randy Van Dueck is a Principal in Private Mortgage Fund, LLC.
$10,406,250 Loan Amount - Purchase
27 Unit Apartment Building
$3,400,000 Loan Amount - Refinance
Non owner - SFR
$4,375,000 Loan Amount - 50% LTV
3 Non Owner - SFR's
$550,000 Loan Amount - 50% LTV
Non owner - SFR
$500,000 Loan Amount - 44% LTV
12,600 Sq. Ft. Comm./Ind. Bldg
$2,000,000 Loan Amount - 44% LTV
6 Unit Condominiums
$4,450,000 Loan Amount - 62% LTV
Non Owner - SFR
$2,795,000 Loan Amount - 65% LTV
18 Unit Apartment Building
$4,250,000 Loan Amount - 53% LTV
34 Unit Apartment Building
$4,950,000 Loan Amount - 55% LTV
Non Owner SFR
$700,000 Loan Amount - 47% LTV
Non Owner - SFR
$950,000 Loan Amount - 54% LTV
20 Unit Apartment Building
$2,200,000 Loan Amount - 55% LTV
Private Mortgage Fund, LLC (“PMF”) is a privately funded lending source which fills the gap for borrowers unable to obtain conventional financing. Despite a loosened credit environment, there are still a variety of reasons why a borrower will need the form of financing we provide. Our main criteria is to lend against properties only located in California, to be in 1st position only and not to exceed 60% loan to value. Our mission is to create safety for our investors while providing an attractive yield. To achieve this, we do look at the strength of each borrower, however, our main focus is that there is no less than 40% equity remaining after our loan has been made.
PMF does not market itself to investors. Rather, our growth comes from existing investors whom add to their investments, or from those potential investors referred to us. Investors are entitled to view our annual audits, prior year's tax returns, current loan summary, recorded Deeds of Trust and monthly reports via our investor secured website. In addition to semi-annual reports from management, investors also receive monthly reporting which details the prior month’s performance. Within a day or two thereafter, investors receive an automatic deposit via ACH directly into their designated account. Transparency is very important to us.
Another attractive feature for investors is “liquidity”. We ask for a one year commitment, yet have always found ourselves in a position to redeem an investor’s interest within 24 hours. While we cannot guarantee that this will always be the case, we have two methods in which an investor may exit, either through new investors waiting to enter the Fund, or through loan payoff’s.
Investors are entitled to the full yield of the Fund less a 1.1% management fee. Day to day operating expenses, accounting costs, our annual audit and 3rd party servicing fees are paid from the management fee.
For more information, please feel free to contact us.
References provided upon request.
Private Mortgage Fund, LLC was formed in 2009 with the mission of providing fast and reliable debt to the real estate owner. Our loan programs offer flexibility of terms and a quick decision making process, regardless of how simple or complex the transaction may be. Unlike many other short term lenders, PMF funds its loans from cash on hand rather than syndicating loans to individuals or groups of investors. Our team of principals have over 75 years of combined experience in commercial and single family lending, brokerage, marketing and property management which enables us to understand transactions and act quickly.