Today we’d like to introduce you to Tim Boord.
Hi Tim, please kick things off for us with an introduction to yourself and your story.
From an early age, I’ve had an interest in business and entrepreneurship and the drive to carve my own path. I started in banking right out of college in the early nineties. Upon graduation, I entered a management trainee program where I worked in the mortgage department. I gained a solid understanding of all aspects of lending from this experience and was able to build from there.
After that, I worked through the nineties as a sales representative for various mortgage companies, originating residential loans from mortgage brokers. In the early 2000s, I accepted a position at First Franklin Mortgage as a District Manager. I managed sales and operations for the Mid-Atlantic region and was ultimately responsible for the financial success of the branch. My team was able to grow the production from less than $100MM per year to over a billion dollars a year in loan production.
After the market crash in 2008, I pivoted from mortgage banking to real estate development. I worked for Express Home Buyers, which bought distressed properties, renovated them, and then sold them off. I managed most of their operations, including their sales agents. During this time, I also bought, fixed, and sold some of my own properties. This really fed my entrepreneurial spirit and, in 2016, I was able to marry my mortgage and real estate renovation experience together, partnering to open Navigator Private Capital.
We all face challenges, but looking back would you describe it as a relatively smooth road?
No, I wouldn’t say it’s always been smooth sailing. Working in the mortgage industry has been a bit of a rollercoaster ride. I have been through multiple market downturns, layoffs, and rightsizing, and, through it all, have learned to pivot. I first experienced a sudden downturn in the late nineties when the tech bubble burst. Then the big reset in 2008 happened, and I watched many friends and colleagues lose everything they had. It was pretty eye-opening. When you work in the financial market and with mortgages, especially, you are often at the mercy of regulatory and policy changes. As you can imagine, the impact of these changes can be hard to predict and even harder to manage.
After the 2008 recession, the economy limped along through 2015 and created a difficult environment for mortgage lending. There was virtually zero home appreciation during this period, which put a lid on refinancing. Just as the housing market was regaining its footing, COVID came along and put a pause on most sales activity, including in the secondary market. The federal stimulus funding that came after that led to the fastest rise in mortgage rates in over 30 years. We are still dealing with the fallout from higher rates and historically low housing inventory today. Hopefully, recent Fed rate cuts will continue and bring some much-needed relief.
Alright, so let’s switch gears a bit and talk business. What should we know?
Along with partners Rick Rall and Kevin Reville, we started Navigator Private Capital (NavCap) back in 2016. We recognized a gap in the marketplace that traditional big banks couldn’t fill. While these big banks focused on cookie-cutter residential mortgages, they did not always have good options for the real estate investor. That’s where NavCap comes in.
We are a direct private lender making business-purpose loans to real estate investors. We don’t qualify folks based on their personal income, but rather, look at the fundamentals of the property itself. This allows people who have been boxed out by big banks to gain access to capital. We are proud to offer a new avenue for investor funding.
Our customer-centered approach to private lending is what sets us apart from our competitors. Much more than simply a money source, we provide hands-on support from day one to ensure that each project succeeds. By offering short and long-term investment loans, including fix-and-flip, DSCR, new construction, and bridge loans, we meet our customers where they are. With access to our own private capital, we are nimble and creative when it comes to crafting loan vehicles —focusing on the unique needs of each borrower.
Headquartered in Annapolis, we started lending in the Mid-Atlantic but have expanded considerably since 2016. NavCap now lends across the United States, operating up and down the Eastern seaboard and out to the Midwest.
Is there something surprising that you feel even people who know you might not know about?
Clients often ask us what we look for when evaluating a deal. It basically comes down to one thing—the numbers have to make sense. At the end of the day, there should be enough profit left after all expenses are paid to adequately compensate everyone involved. People are often surprised to know that, here at NavCap, we pass up more deals than we accept. By being selective, we are protecting not only ourselves but also our clients from unnecessary loss.
Pricing:
- ⭐Fix-and-Flip – Up to 90% of purchase + 100% of rehab costs
- ⭐DSCR Loans – Up to 80% LTV for purchase, rate-term, cash-out refinance
- ⭐New Construction – Ground-up residential projects with experienced builders
- ⭐Bridge Financing – Quick closings when timing matters most
Contact Info:
- Website: https://www.gonavcap.com
- Instagram: https://www.instagram.com/navcapital/
- Facebook: https://www.facebook.com/NavigatorPrivateCapital
- LinkedIn: https://www.linkedin.com/company/navigator-private-capital
- Twitter: https://x.com/NavCapital
- Youtube: https://www.youtube.com/@navigatorprivatecapital3075
- Other: https://www.tiktok.com/@gonavcap
