GREENVILLE, S.C.— Lima One Capital, an institutionally-backed, specialty finance company that focuses on investment property lending, has hired Michael Adams as Chief Sales Officer. Adams will have an integral role in creating vision, developing corporate lending strategy and coaching staff to achieve companywide goals.
Adams has extensive experience in building high performing teams, improving organizational efficiencies and structures and leading sales, service and operations at financial institutions such as Bank of America, Citizens Financial and M&T Bank. He holds an MBA from the University of Rochester.
“Mike is a great addition to our team because he understands how to work within a high growth environment and drive sales even further,” said John Warren, CEO of Lima One Capital. “Throughout his career Mike has demonstrated that he is a strong leader who can develop and execute a strategic plan while maximizing the efforts of the employees who work for him.”
Lima One Capital is the only institutionally-backed lender in the nation to offer specific loan products for those who invest in each type of residential real estate: home flips, rental homes and multifamily properties.
The FixNFlip loan offers a 13-month term and covers the price of the home and the cost to rehab the property in preparation for resale. Lima One Capital will lend 90 percent of the total costs and up to 70 percent of the anticipated “after repair” appraised value of the home.
On the rental side, Lima One Capital offers the Rental30 loan. While Lima One Capital issues Rental30 loans in amounts as small as $50,000 – the company has also seen large demand from established investors looking to cash out equity from existing rental properties to fuel the purchase of more rentals.