FROM OIL INDUSTRY BUST TO REAL ESTATE BOOM

We’re proud to support borrowers who take on the challenge of revitalizing neighborhoods.

In our series, “Developing Stories,” read about some of these borrowers and their experiences.

 

Smart investors are always looking beyond the horizon, which is exactly what Anthony was doing as he planned for a career outside the notoriously boom-and-bust oil industry. So, when the bust came, he was ready. In 2020, he bought his first properties—a triplex in the Belleview neighborhood and a single-family home in Ambridge. His father helped with renovations on the triplex, and he taught himself how to renovate by fixing up the single family himself. He kept going, buying properties in McDonald and Verona, but was self-funding everything. His ability to grow was being stifled by his balance sheet.

That’s when Anthony met Kyleigh from Spring Garden Lending. Ultimately, they  worked together to finance a rental and a flip property in early 2024. Those properties are now nearing completion and Anthony is looking forward again.

Above: Before and during shots of one of Anthony’s properties financed by Spring Garden Lending.

Asked about market conditions in the Pittsburgh region, Anthony responded, “Ridiculous! How can you go wrong if you buy right. If you have the money and the resources to get it done, you are in business. But you have to have multiple exit strategies.”

Anthony sees Spring Garden Lending as a “valuable resource.” He continued, “They are simple to work with and understand that real estate is a speed game. You must have the assets to close deals and Spring Garden Lending closed my last deals in less than two weeks! This is a productive relationship.