Raymond Loughlin has been involved in construction, finance & real estate investing for over 35 years, starting with his first job as an electrician’s apprentice in 1977. He went on to found Alliance Electric, a residential electrical contracting company that has wired thousands of homes. Looking to diversify, in 1983 Ray started a residential development company that has built and sold more than 100 homes. Both companies are still active and profitable today.
While he has concentrated mostly on residential real estate, in 2004 Ray saw an opportunity to develop a vacant commercial parcel, and successfully permitted and built out a 40,000sf climate controlled self-storage facility in Northern Rhode Island. The self-storage partnership has been able to refinance the property twice, despite the recent turmoil in the conventional financing markets, and consistently operates at >90% occupancy with solid profitability.
Bringing his deep experience as an electrician and developer, and having been on the borrowing side of hard money transactions, Ray began funding private money loans through his IRA in 2002. In 2007 he really started to ramp up the lending business, incorporating Celtic Funding and utilizing the fractionalization method in order to bring in more investors and execute more and larger transactions. In the 12+ years, with over 100 loans and more than $5,000,000 in loans funded, the default rate in the portfolio is less than 2% (on transaction, not volume, basis). Ray has been able to work out, restructure or take over most of the transactions in order to recover 100% of principal invested. There have been only two deals where actual losses were incurred.