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David H. Allen

Location: Boston, MA US
Website: http://www.caledoniaconstruction.com


Biography David H. Allen is the owner of Real Estate Partners, LLC, and the President of Caledonia Construction Company, Inc. Mr. Allen is a full-time Real Estate Investor, investing in small multi-family properties in inner-city neighborhoods. His vision is sustained neighborhood revitalization. Since 1993 his personal experience with private lenders (usually friends and family members) has brought him through the cycle of rehabbing for a rental portfolio, general contracting and again rehabbing. Through the use of private funding, he bought his first duplex in 1993 for $9,000 and sold it two year later for $160,000, this after it generated positive cash flow for two years through Boston's subsidized housing program. With a purchase and sale agreement in his hands, Mr. Allen was able to convince a private money lender that he had a very good deal. The lender subsequently, provided the $9,000 for acquisition and $44, 000 for the rehab work. He supported and funded the deal because of Mr. Allen's established exit strategy and documented commitment to affordable housing. (The private lender was an advocate). At the time, Massachusetts was going through a major economic downturn, so he was particularly interested in knowing the deal's exit strategy which was a cash-out refinance to pay off acquisition and rehab cost then held in a rental portfolio. Through Caledonia Construction, his general contracting company, Mr. Allen has often used private lenders' funds as bridge loans on many of his residential remodeling projects. In truth, since his exposure in 1993 he has used private lenders to finance various stages of the many projects that he has completed. Caledonia Construction Company, founded in 2002, main focused now is to quickly rehabilitate the properties acquired through Barron Real Estate Partners to meet exit strategies requirement.