Read the full February 2022 edition here.
Experience is a commodity worth its weight in gold that spans all industries and economic sectors. Even the best formal education in the world can’t compare to years spent crafting innovative, real-world solutions to adapt to constantly fluctuating market dynamics.
Just ask Joshua Shein, a partner at Trius Lending Partners, who has truly seen it all—from the historic financial crisis in 2007-2008 to the unprecedented challenges associated with the ongoing COVID-19 pandemic. Geraci LLP recently had the pleasure to chat with Joshua about his intriguing career arc in the lending industry and how those experiences influence his role at Trius Lending Partners.
Regionally Focused Lending
After years spent focusing on reverse mortgages, Joshua noticed the industry evolving more to a residential-focused business. The shifting regulatory environment prompted him to reach out to the original Trius team. Together, they set ambitious goals to grow and scale the preexisting Baltimore-based lending company into a regional hard-money powerhouse.
“The goal was to grow business and make Trius a competitive entity in the mid-Atlantic region and really expand its presence,” recalls Shein. “All while maintaining high standards in transparency and quality for the consumer.”
That underlying emphasis on remaining transparent and delivering the best end-product possible to the client is a focal point in Joshua’s overall business philosophy. It’s an approach that has lent itself to maintaining lasting working relationships with key partners. “Honesty, integrity and relationships are the key components of success in the lending industry,” explains Shein. “At the end of the day, functional relationships with partners, vendors and clients alike allow us as an organization to adapt and overcome all challenges and deliver consistent results for even the most demanding projects.”
The real estate lending space is becoming increasingly crowded with lenders all vying for business, making for a competitive market when it comes to attracting clients. Trius Lending Partners has found immense success in doing so by providing unmatched accessibility and individually tailored funding solutions. “We visit nearly every property in person,” says Shein of the Trius underwriting approach. “We provide advice when deals and transactions don’t make sense. We are always looking out for our clients’ best interest to ensure that the return on investment aligns with their long-term goals. If we see a deal that doesn’t make sense for them in the long run, we tell them that. Their success is our success.”
Although Trius has grown significantly over the years, becoming involved in 30-year rental loans and longer-term loans in the local marketplace (primarily in Delaware, Pennsylvania, Maryland, DC and Virginia), they have maintained a regional radius which is unique in the lending space. That was a conscious decision on the part of the Trius Lending Partners management team, who wanted to remain intimately familiar with the latest market trends, property values, costs, needs, and fluctuations in the area so they can deliver the utmost service for their clients. “As a small, local, regional lender, relationships are incredibly important. Working with someone that understands the local market and gives clients access to experts that are co-located and available to field questions is an invaluable asset and truly sets Trius Lending Partners apart from larger competitors who simply can’t deliver a comparable level of individualized attention.”
An inherent characteristic of the real estate industry is variability. Every property is different. There are different aspects that set apart each transaction. Admittedly, these nuances present challenges for lenders to navigate, but it is an aspect of the job that Joshua truly enjoys. “Every day I encounter a unique deal. That is what I enjoy most about my role at Trius. No two clients are the same. No two deals are identical. That’s exciting to me. We are working with people who are growing their business long-term and scaling—accomplishing goals. When I was focused solely in the mortgage business, I didn’t have that frequent interaction and repeat business with clients. I really enjoy forging relationships and assisting them in reaching their goals.”
It’s safe to say that Shein and the rest of the Trius team will have plenty of opportunities to help clients hit their investment targets. Trius Lending Partners is currently servicing over $50 million in loans and has plans to scale that number in the near future.