Today, we’d like to introduce you to Warren Ifergane.
Hi Warren, we’d love for you to start by introducing yourself.
I started ICG10 Capital almost 10 years ago, and we’ve just crossed the threshold of $1 billion in loans funded. It wasn’t easy. In the beginning, I put in 12 to 14-hour days, but now, I work a lot less, as we have processors, underwriters, and loan officers.
It all started when I was an executive at another private equity firm. I was discontent about bonus structure fluctuations and threatened to leave. To which I received the reply, “Then leave”. Obviously, I had lost all my leverage and had no choice but to leave.
After searching through countless employment prospects, I realized no one compensated what I wanted to earn, so I started my own firm. The first 6 months were grueling, but the rest is history. It was one of the best decisions I ever made.
Alright, so let’s dig a little deeper into the story – has it been an easy path overall and if not, what were the challenges you’ve had to overcome?
When you’re looking for investors and borrowers, you grasp that the majority of deals don’t end up materializing. It’s particularly easy to get frustrated. In actuality, you need to learn to deal with rejection in a constructive style and move on.
Dwelling on it is self-destructive. I deal with it by just having loan volume. No deal will move the needle tremendously, because we have a constant pipeline. So when one deal doesn’t work, the business doesn’t suffer to a breaking point, because we have hundreds in the pipeline ready to materialize. No single deal will dictate our fate.
Thanks – so what else should our readers know about ICG10 Capital?
We are a direct private lender specializing in loans for real estate investors. Our focus is on fix-and-flip, long-term rental, and construction loans. The advantages of going through us are the certainty of closing and competitive pricing/leverage.
Compared to a bank, we are more expensive because the funds are private, but most investors are willing to pay a premium to make sure they actually close on a deal. A bank can have you running around for 3 months and then decline the loan. We close in 2 to 3 weeks.
Let’s talk about our city – what do you love? What do you not love?
I’ve been in Miami for over 27 years. I’ve seen it completely undeveloped to where it is now. It has grown tremendously, so I would say my favorite thing about this city is the new dinner and entertainment options along with events that have been brought to the city over the years (Formula 1, Art Basel, Miami Music Conference, etc).
As far as what I dislike the most, Miami drivers. I’m not sure if the licensing standards are too loose to if everyone is on their phone, but it’s a minefield out there.
Contact Info:
- Website: https://icg10.com/
- Instagram: https://www.instagram.com/icg10capital/
- Facebook: https://www.facebook.com/ICG10Capital/
- Linkedin: https://www.linkedin.com/company/icg10-capital/
