AS A REAL ESTATE APPRAISER, JONATHAN IS CONSTANTLY ON THE GO FROM PROJECT TO PROJECT.

Borrower Stories | Washington, DC | October 2023

Jonathan spends so much time in his car, that he has a “personal” mechanic who is on call for any emergencies. As a real estate appraiser, he is constantly on the go from project to project.

Jonathan’s path to appraising took a somewhat circular route. Living in Colorado in 1998 he was a real estate broker who eventually landed a role selling off bank properties. In doing so, he had to determine the value of the properties. He enjoyed this aspect of his work so much that he got his real estate appraiser license and started his own business.

In 2013, Jonathan’s wife got a high-level position in the Obama administration directing the SBA’s entrepreneurial development office. Jonathan did not skip a beat with his professional transition as he had national clients who threw projects his way. A natural salesman and marketer, Jonathan went about getting his name out there as an experienced appraiser and business started flowing his way. He has developed a niche business preferring to work with niche lenders who represent developers and investors with more complicated, complex properties.

Pictures from Jonathan on some of the projects he appraised for Spring Graden Capital Group. He appraised the projects before the renovation and then again when the projects were put up for sale!

Working with Spring Garden Capital Group has been a good fit. “Greg and Sarah are very reasonable. On the one hand, they don’t pressure me to hit a number on a project. They want me to tell them if the numbers work or don’t. They are protective of their investments. And on the other hand, they really know the market, and we can talk through what comps make sense when our opinions of value diverge. They use that expertise to make sure they’re always looking out for their clients too.”

Being immersed in real estate for all these years, Jonathan has caught the bug and is going to start investing in real estate. His immediate goal is 20 properties—and that’s just to get started. Guess who his preferred lender will be? Spring Garden Capital Group!

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Spring Garden Capital Group appreciates appraisers like Jonathan who provide us with the support and expertise that we need to make solid decisions when financing our projects. His efforts help us to provide financing to developers working hard to build good, affordable housing options for all homebuyers. We support our borrowers with quick closings and rapid draws that are at the core of 100% of our construction financing. We have our customers’ backs every step of the way.

Greg Goldstein, Senior Vice President, DC Market Director