Real estate transactions are just as they seem to be… transactions. But the best deals aren’t built solely on getting things signed, sealed, and delivered. They’re built on trust.
When I first sat down with Erik Eichinger from I Fund Cities, our initial conversation was meant to focus on the Charlotte investor market and local trends (that blog is out too; you can read it here). But what our conversation kept circling back to was trust.
- Trust in people.
- Trust in performance.
- Trust in numbers.
And when that trifecta exists, deals become hassle-free, relationships form, and that trust compounds into more deals over time.
So, let’s get into this conversation about trust, shall we?
Trust in People
‘In West Philadelphia born and raised…’
Real estate lending was where Erik spent most of his days, until one phone call changed everything.
I Fund Philly, now known as I Fund Cities, was a small local hard-money lender in Pennsylvania before expanding nationwide. When Erik got a call from his superior that I Fund was looking to expand and was considering Charlotte, North Carolina, Erik said, ‘I’m in.’
With no hesitation.
With no detailed game plan.
Just a sincere amount of trust in I Fund’s people that if this were happening, it would be successful.
Two weeks later, Erik was heading 500 miles south with, quite literally, a U-Haul and a dream.
And that’s where the real work began.
I Fund Cities expanded into Charlotte with zero brand recognition and zero referrals. It was a slow start, says Erik:
“It’s really hard when someone’s asking… ‘is there a couple other people you’ve worked with that I can speak to?’… At the beginning I couldn’t lie to them. I said no… our presence isn’t here. Our brand isn’t here. Our reputation isn’t here.”
But there were a few early clients Erik still thinks back on fondly:
“I’m very thankful for… core investors that trusted me… and gave us a shot and we performed.”
Without someone being willing to take a risk first, there is no chance for others. Every relationship starts with someone going first. Sometimes, that’s an investor ordering their first appraisal with us at TAG. Other times, it’s the lender extending the first opportunity.
Trust in Performance
Trust isn’t a set-it-and-forget-it mentality. It takes:
- Showing up
- Educating
- Being available
- Doing what you say you’ll do
..and doing all of that consistently.
Because, as Erik said:
“Brand reputation could take five years to earn and five seconds to lose.”
It’s important to stay top of mind, current, and a knowledge expert in your field. That’s what further deepens trust before getting to the closing table.
Erik shared that he sought to do this early on in the Charlotte market by confidently asking to speak at local events and presenting himself as a leader in the space.
“If attendance was low, I’d approach the host and say, ‘Hey, I am looking to educate people on the hard money space… would you mind if I spoke at these events?’”
That initiative created momentum.
“I went from attending the meetups to speaking at them… people… saw me on the stage… and said, ‘Well, I think this guy must know what he’s talking about.’”
And he didn’t stop there.
“I probably spoke 50 to 100 times the year after I got here all across North Carolina on investing and hard money and what that looked like.”
Those trust-building efforts slowly built a strong reputation for I Fund Cities in Charlotte, North Carolina. Going from having zero local presence and one employee in the area, to a full Charlotte team and being one of the most recognized names in the Charlotte investor scene.
TAG Tip: If you are in the Charlotte Metro area, don’t miss I Fund’s CLT REI Meetup on the last Thursday of each month. We’ll be there too! Follow them on IG @CLT_REI
Paying Trust Forward
As we touched on earlier, someone has to take the first chance.
Now, I Fund is paying that trust forward.
As investors migrate from rehabs to new construction, many ‘first-time builders’ are struggling to get approved, even if they’ve completed multiple successful flips. Most lenders will say, ‘Come back once you’ve built a few.’
But Erik challenges that thinking:
“If everyone’s saying that, then how is somebody going to do their first one? There’s got to be someone that gives you a shot on your first one.”
Instead of defaulting to ‘no,’ I Fund leans into trust.
“If you’ve got extensive experience fixing and flipping… that’s almost more impressive than building….They’ve shown they can execute before… we’re comfortable giving them a loan.”
What started as a few core investors taking a chance on ‘Erik at I Fund’ has evolved into a Charlotte lending presence strong enough to extend that same trust to others.
That’s how ecosystems grow.
That’s how markets mature.
Trust in the Numbers
The final piece of the trust puzzle? The numbers. As Erik puts it:
“Whether they like it or not, the appraisal is going to carry a ton of weight on the financing aspect.”
At the end of the day, lenders and banks must rely on data over opinions.
“Lenders, banks, financing… are always going to go off the numbers on a piece of paper at the end of the day.”
That’s why ensuring ARV values are accurate and backed by data is what keeps a deal moving instead of stalling out.
In fact, Erik has a PSA for investors in the Charlotte Metro area:
“A huge piece of advice is: go pay for an appraisal. Why not spend a couple of hundred bucks to get that (ARV value) written down?”
Why? Competitive advantage.
As Erik explains:
“You might be able to offer a little bit less because you can close in three days versus the guy or girl next door who’s offering a three-week or three-month closing timeline.”
Having that valuation in hand before going under contract can dramatically speed up underwriting.
“If you use that in your underwriting model prior to going under contract… our loan process goes from 14 days to three days.”
At the end of the day, for a few hundred dollars, a trusted valuations protect margins and prevents ‘make the deal fit’ scenarios, which Erik advised should be avoided at all costs.
TAG Tip: Triangle Appraisal Group proudly serves over 40 counties across North and South Carolina, and we specialize in ARV values for investors like you. – TAG us in!
Trust in the Numbers
Just like any relationship, a real estate partnership is built on honesty, performance, data, and consistency.
It’s about bringing the relational aspect into the transactional space.
It’s about being there when your client needs guidance.
Not just when paperwork needs signing.
When trust is extended strategically and wisely, it compounds.
Before you make your next offer, talk to a team that understands both the people and the numbers. Happy investing!
Connect with Rachel Mann on LinkedIn:
Thanks for reading! We love sharing insights from the TAG team, and we’re always looking to connect with others who are passionate about real estate, marketing, and community.
Have thoughts to share or want to collaborate on a future post? Let’s talk!