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Real Estate Investors and Developers

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Investment

Caviar Capital lends short-term capital to real estate developers and entrepreneurs for the purposes of building, rehabbing and selling single and multi-family homes located in the state of Connecticut. Loans are always personally guaranteed by each borrower, and Caviar takes first lien position on the property.

Facts

Caviar Capital has financed dozens of deals since 2013. Average deal size was $170,000 and average time to sell a property was 6 months. There have been no late payments, collections or foreclosures. To date, our Limited Partners have enjoyed a generous return of 10% per year on their investment, and their investment is secured by a first lien and personal guarantees of experienced real estate entrepreneurs.

Over 20

Deals funded

6 months

Average loan term

$170,000

Average deal size

0

Late payments

10% per year

Average interest yeild

Recently Funded Projects

333-335 Glenbrook Rd. Stamford, CT

Stamford, CT is the third largest city in the state and the seventh largest city in New England. Conveniently located on the main branch of Metro-North’s New Haven Line, Stamford serves as a vital and vibrant business center and is home to numerous Fortune 500 companies, as well as the headquarters and research facilities of numerous major corporations. Stamford has long been considered one of the country’s most desirable cities because of its ability to offer an attractive suburban lifestyle amid a dynamic economy. This gem of a property sits on 8,100 sq. ft. lot. This 9 bedroom, 3 baths multi-family home is approximately 3,962 sq. ft., and ready to move in!

Loaned

$405,000

Yield

10%

After Rehab Value

$520,000

Project closed, investors repaid
89 Whitehill Dr. West Hartford, CT

Hartford, CT is a lovely town that is located in North Central Connecticut just minutes from the Connecticut River and Suffield.  The city is located along the Connecticut River, 40 miles from the Long Island Sound. This gem of a property sits on 0.26 acres as a refashioned ranch house offering an impressive package with lots of attention to detail. The kitchen is updated with new stainless-steel appliances and attractive tile backsplash. The house is roomy and airy with the kitchen open to the dining room area and then into the living room where you will find an inviting marble fireplace to sit by. The property also has a circular driveway in the front of the house and a 2-car garage on the side attached both add plenty of room for you and some guests. And, don’t forget the enclosed porch!

Loaned

$250,000

Yield

10%

After Rehab Value

$325,000

Project closed, investors repaid
35 skyline Dr. Farmington, CT

Renovated cape features modern and tasteful updates throughout! This gem of a property sits on 0.48 acres and features over 1800 Sq. ft., currently 4 beds with possibility of a 5th on 2nd floor. Lots of character and spacious rooms. Includes two more beds with views of Hartford skyline from the bedroom on the right side. Great curb appeal and Ideal location. prime location along With Private Yard- this house has it all!

Loaned

$260,000

Yield

10%

After Rehab Value

$338,000

Project closed, investors repaid
  • I have been a limited partner with Caviar Capital since 2013. This has been one of the easiest investment I have ever made – I have received a 10% return via check every month, along with a timely statement. Kirill communicated well, and sent a monthly update on investment opportunities and fund status.

    Alex Shvayetsky, CFO at Udolf Properties and Caviar Limited Partner
  • I worked with Caviar on 5 deals in the past couple years, and couldn’t be happier. The process was fast and efficient, closing painless and I received funds when I needed them.

    Frank S., Real Estate Entrepreneur and Caviar Capital client
  • Its been a pleasure working with Caviar Capital’s team for the past 4 years. True professionals, Caviar has been a valued partner, helping my real estate development business expand much faster then I anticipated.

    Corey Kosiensky, CT Real Estate Developer and Caviar Capital Client since 2013

Investment Process

  • Application and Credit Check

    Caviar Capital receives an application for a new flip and performs a credit check on the borrower. A proprietary score is assigned based on a number of factors such as experience, credit score, personal net worth and more.

  • Market

    Caviar team analyzes the local market, number of properties for sale, past sales performance and other factors

  • Property Inspection

    Caviar team meets with the borrower to inspect and review the property and understand the scope of work, and determine if the proposed rehab budget is in alignment

  • ARV (After Rehab Value) Determination

    After the property inspection, Caviar team determines the ARV based on the projected post-rehab value of the property. Caviar’s loans are always below 75% of the ARV

  • Closing

    After all due diligence is completed, and both partners approve, Caviar Capital law firm performs the closing and funds for property purchase and initial draw are released

  • Rehab

    Throughout the rehab process, draws are provided on a previously agreed scheduled. Before releasing funds, Caviar team performs regular inspections to ensure the work is going according to schedule and the results are of acceptable quality

  • Cash Flowing

    Cash is flowing to investors on a monthly basis

Investment Criteria and Terms

  • Investment criteria: Comparable properties, length of our relationship with borrower, visual inspection, borrower’s experience and knowledge of the neighborhood, and more
  • Principal Amount: $100,000 – $500,000, will consider higher amounts on one-off basis
  • Interest Rate: 13% per year
  • Finance up to 95% LTV and construction
  • After Rehab Loan to Value: up to 75%
  • Origination Fee: 3%
  • Loan Term: 1 year interest only, with a balloon payment
  • Prepayment: allowed, no penalty
  • Security: first lien position against the property, unlimited personal guarantee

Partners

Kirill Bensonoff
Kirill Bensonoff

Caviar was founded by Kirill Bensonoff. Kirill is an entrepreneur and previously founded a number of successful technology companies (ComputerSupport.com, US Web Hosting, Unigma ), and made personal angel investments in companies like WanderU, Node-Source, Hooked, Talla, Paintzen others. Kirill attended Harvard and the Masters of Entrepreneurship program at MIT.

Kirill is responsible for fundraising and final-approving new deals.

Guy Neumann
Guy Neumann

Guy Neumann is an entrepreneur and an investor. Guy is the founder of GN Construction and Flipside3 Investments. GN Construction is a full service General Contractor serving both CT and MA. FlipSide3 Investments is a real estate investing company that specializes in “flips” and rental properties.

In the past 5 years, Guy has “flipped” over 60 houses. He has a strong background in finance and management, and specializes in the underwriting of residential homes in CT and Western MA and has a broad knowledge of construction.

Guy is responsible for sourcing and approving new deals, as well as on-going project administration.

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