Something Different that Might Interest you!

After more than 35 years in the mortgage business, I’ve been fortunate to build not just a career, but lasting friendships and strong business partnerships along the way. So many of those relationships are with my real estate friends/agents, brokers, and investors, who I respect tremendously. This business is built on people, and I truly value the community we’ve all created together. 

Throughout that time, I’ve always remained an active investor, building a portfolio that includes single-family homes, condos, commercial properties, and mortgage notes. I’ve flipped properties, acquired homes subject to existing financing, and worked extensively with hard money and bridge loans. 

I’m sharing this because, while the past five years have been challenging for many in the mortgage industry, my investment portfolio has provided stability and peace of mind. It has allowed me to continue supporting my company, save money, and navigate personal challenges, including an ongoing divorce, without financial stress. 

Last year, I had a conversation with my good friend Jeff Brandolino, who many of you know as one of the top fix-and-flip experts in the Santa Clarita and San Fernando Valleys. I shared my concern that many friends and families don’t have access to the same investment opportunities or capital that I’ve had over the years, and that too many people have money sitting in savings accounts, not really working for them. 

That conversation led us to bring in another trusted colleague, David Rendall, President of RE/MAX Santa Clarita. David brings exceptional expertise in both residential and commercial real estate, along with a sharp legal mind. We later added Scott Visner, who has a strong track record in flips, commercial projects, and deep knowledge of the hard money space. 

Together, we formed Synergy Investor Group. 

Our first offering is a $10 million fund, open to friends, family, and accredited investors. The fund will focus on fix-and-flip residential properties, subject-to acquisitions, hard money lending, and value-add commercial investments. 

We’ve structured this opportunity to make investing more accessible, with minimum investments starting at $25,000, so smaller investors can participate alongside experienced operators. 

If you’re interested, reply to this email, and I'll send more details. We can also schedule a Zoom call or meet in person to walk through the opportunity. 

We’re targeting June 15th as the close for this first raise. This is just the beginning, as our goal is to complete 10 raises of $10 million each over the next 4 to 5 years. 

And yes, I’m still very much in the mortgage business, working 60+ hours a week. This venture is something I’m passionate about. It’s about doing what I love while creating opportunities for others to grow and succeed, especially for those in my real estate circle who have trusted me over the years. 

At the end of the day, this isn’t just about investing. It’s about building something meaningful with people I trust and respect and helping others take steps toward financial independence. 

Call me crazy, but there’s a plan behind all of this, and I couldn’t be more excited about what we’re building together. 

We will set up a couple of Zooms, and you will hear more about what we are doing in the coming weeks. Let me know if you’re interested or would like to learn more. 

Interest Rates

Last Friday was awesome for rates. This Friday was good! Every day in between the Fridays has been crappy! Rates are still looking good, and business has been great this week, so get ready for a big May and June!  

Loan Programs Snapshot

• Government loans (FHA/VA/USDA): in the 5s
• Conventional (≤ $832,750): high 5’s / low 6s
• High-balance: mid 6s
• Jumbo: Low to Mid6s
• ARMs: 5s - 6s

Additional options:

• Bank statement loans (10% down+)
• P&L loans (20% down, no bank statements)
• 0% down options (620+ score)
• DSCR loans (15% down)
• Bridge loans (~7.99%)
• Buydowns (3/2/1, 2/1, 1/0)

Rates subject to change without notice. 

Condo Update

• Good news: None today
• Bad news: Diamondhead – Stevenson Ranch  –  Fannie doesn't like them right now.  I believe there are some repairs going on due to SB-326.     

We love your Non-Warrantable Condo loans!!

Need help checking a condo? Call me, and we can look it up in real time.

Also: 

Full California "naughty list" available here:

https://mikemeena.com/non-warrantable-condos/

Let's Connect 

If you - or your clients, friends, or family - need guidance, I'm here.

📞 661-291-2222 (Direct)

📞 661-714-6258 (Cell)

📞 661-260-2970 ext. 2222 (Office)

📧 Mike@AugustaFinancial.com

Sincerely,