Welcome to the Movers and Shakers podcast. This weeks guest is Mark Langdon.
Mr. Langdon from Whippany, NJ has been investing in residential real estate since 1991. Mark continues to work full time as a Project Manager/Chemical Engineer performing project execution of engineering, procurement, and construction projects in the pharmaceutical, chemical, and food industries and is licensed as a Professional Engineer. He has a separate (Fix & Flip) real estate investment firm: Langdon Properties LLC focused on buying distressed properties; renovating the properties and then reselling them.
Completed 12 Fix & Flips and Found out that Fix & Flips are the same as a W-2 Job.
Rentals Prior to October 2018 – (10) units total: (SFH & 1-4 units) self-managed over the last 27 years. Started last year October 2018 doing Multi-Families: – 21 unit in Greensboro, NC (JV with 1 partner) – 18 unit in Alabama (100% owned) – 32 unit in Hickory, NC (JV with 2 partners) – 48 unit in Louisville, KY (100% owned) – 107 unit in Louisville, KY (Acting as GP/KP Loan Guarantor) – 62 units in Morgantown, WV (JV with 2 partners) – 210 units in Birmingham, AL (JV with 3 partners closing early Oct)
Looking to transform into doing syndications moving forward. Mark and his wife have high net worth from real estate holdings, mutual funds and stock portfolio which allows him access to $ 2.0 MM various credit lines including raising private money to finance his deals.
Mark is also married to a mortgage professional (Susan) with 30 years’ experience and she must approve all real estate deals before closing.
Together Mark and his wife bring strong W-2 income; High net worth, excellent credit (800+), multiple income streams with the required real estate and property management knowledge to be able to execute, manage, and close real estate deals.