“I made some money, started investing in real estate, and that’s how I got interested in the whole private lending thing,” Jeff explained.

Then, 2010 hit — a time when foreclosures and short sales flooded the market. Jeff and his business partner saw an opportunity. “There was a real lack of money available to investors to buy all of these opportunities,” he said. “So we thought, let’s build a business focused on giving investors capital, not just to buy properties, but to fix them up and put them back into the marketplace.”

RCN Capital was born.

One thing that sets RCN apart? The people. Lockard pointed out that RCN has built a reputation for hiring some of the “coolest people in the industry.” So, what’s the secret?

Jeff credits his leadership approach, shaped by those early days in franchising. “No job is ever above me,” he said. “Whoever joins RCN, we make sure they feel included, that their suggestions are respected, and that they’re part of the decision-making process.”

That team-first mentality has paid off, fueling RCN’s growth over the past 15 years.

When Jeff and his team started in 2010, the real estate landscape looked completely different than it does now. Foreclosures were everywhere, banks weren’t lending, and private capital became the key to unlocking investment opportunities.

Now? It’s a different game.

“The biggest shift post-COVID has been the demand for rental properties,” Jeff said. “In 2020, people wanted out of multi-family living and into single-family homes. That demand has not changed.”

This trend has pushed RCN Capital to expand beyond just fix-and-flip financing into rental property lending. “We’ve become a tremendous lender for investors buying rental properties because the demand is at record levels,” he noted.

Despite higher interest rates and a competitive housing market, private lending has remained strong. In fact, Jeff sees it as an area with major opportunities for mortgage professionals.

If you’re an MLO used to conventional loans, private lending might seem like unfamiliar territory. But Jeff insists the learning curve isn’t as steep as people think.

“We built out a self-directed training platform called Amplify for our broker partners,” he said. “It teaches them how to talk the talk of non-owner-occupied lending. Once they get the basics, they realize it’s not that different from what they already know.”

His advice? Don’t be afraid to diversify.

“You don’t have to stop what you’re doing. Just add a new vertical,” he encouraged. “Try it out. Nothing ventured, nothing gained.”

Another area Jeff believes will see massive growth? Fix-and-flip investing, particularly in older neighborhoods.

“We have almost 5% of U.S. housing stock classified as unlivable,” he said. “How is that possible in a market this hot? It’s because we have an aging housing stock that needs serious work.”

For mortgage professionals, this presents a huge opportunity. Connecting with local investors and real estate agents who specialize in distressed properties can open up new business streams.

Jeff also pointed out the role aging homeowners will play. “We have a lot of baby boomers sitting on homes that haven’t been touched in decades,” he said. “Many of those properties are going to need fix-and-flip investments before they can be reintroduced to the market.”

As the conversation wrapped up, Jeff made one thing clear — private lending isn’t going anywhere.

“The demand for rental housing is at record levels, and our access to capital as a private lender is just as competitive as traditional banks,” he said.

For mortgage professionals looking for stability in a shifting market, private lending might be the answer.

Jeff’s parting wisdom? Empower your people, diversify your business, and don’t be afraid to try something new.