This is an LFI episode and LFI is now part of PassivePockets.
Join us on the latest episode of Passive Investing from Left Field, featuring special guest Rich Delgado of DLP Capital.
Dive into the heart of workforce and affordable housing investments, and discover how DLP’s innovative approach is not only enriching communities but also providing impressive returns for investors. Rich shares insights on the thriving RV park market and reveals the financial strategies fueling DLP’s strong performance despite market fluctuations.
Don’t miss out as we explore smaller deals with big impact and learn about the future of real estate investing in 2024.
About Rich Delgado
Rich Delgado is a seasoned financial expert with over 30 years of experience in structured finance, capital markets, and mortgage industries. His impressive career trajectory has led him to the role of Managing Director of Structured Finance & Capital Partners at DLP Capital, which he joined in April 2019. Before his engagement with DLP Capital, Rich Delgaldo honed his skills in high-stakes environments, serving as Senior Vice President of Portfolio Investments at Nationstar Mortgage, where he masterfully grew their Mortgage Servicing Rights portfolio to an astounding $600 billion. His financial acumen also saw him manage $7 billion of Financing Facilities across 14 lenders during his tenure as Senior Vice President and Treasurer at Ocwen Financial Corp. Delgaldo’s foundation in finance was laid during the early days of his career at the prestigious New York office of Deloitte & Touche, setting the stage for a remarkable journey through the finance industry.
Key Points From The Episode:
1. DLP Capital specializes in workforce and affordable housing, focusing on enabling essential service workers like nurses and firefighters to reside in the communities where they work by providing two-year leases with an average eight-year tenure.
2. The company adopts a resident-centric approach by designating property managers as ‘enrichment directors,’ emphasizing the improvement of tenants’ lives and building thriving communities.
3. Rich Delgado shares insights into DLP’s financial strategies, including their strong track record with the DLP lending fund, which consistently delivers solid returns, and the housing fund’s impressive performance even during tough market conditions.
4. Delgado discusses the expansion into the RV campground market, highlighting the growth potential and high return opportunities in this niche sector, along with the importance of environmental stewardship and community enrichment programs in their developments.
Timestamps:
01:42 His real estate journey
04:15 Who is DLP Capital?
05:56 Impact fund
07:35 Affordable & workforce housing
10:12 Starting from the ground up
12:09 Environmental stewardship
13:24 What he does for the DLP Community
14:47 Equity vs. debt investing
17:49 Mez debt vs. regular debt
21:13 Adjusting for the future
25:49 2023 deal performance
28:06 Outdoor hospitality
34:50 Outlook for 2024
34:54 Podcast recommendations
36:05 Contact Rich
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