Step into the world of innovation and excellence with “Industry Champions”! Join us as we celebrate the trailblazers who are redefining success across diverse industries, sharing their journeys, strategies, and secrets to thriving in competitive landscapes. Today our host, Chris Budihas spoke with Jesse Holsapple.
Jesse Holsapple
Owner of Blue Mountain Capital
Website Address: www.blue-mountain-capital.com
Short company description:
Blue Mountain Capital is a real estate investment finance platform focused on business-purpose lending for both residential investment and commercial real estate assets. We originate and structure financing for investors, builders, and developers across bridge, construction, DSCR rental, and permanent loan executions. Our work spans the full lifecycle of real estate investment, including residential rental portfolios, short-term rentals, small multifamily properties, land acquisition and development, mixed-use buildings, retail, automotive, and other small-balance commercial assets. For opportunities outside our primary credit parameters, Blue Mountain Capital structures and places financing through a curated network of private lenders, debt funds, and institutional capital partners.
What’s The Biggest Challenge you are facing in your business or industry?
Trust in the industry. Lots of bad brokers or pretend lenders in the space.
What do you consider to be your greatest accomplishment?
Starting Blue Mountain Capital and it’s continuous scale.
How do you see your field evolving in the next 3-5 years?
Among more attempts at AI usage across most industries we’ll see that here. As well as better vetting systems to find out who is real and who is not in their roles.
Who in your industry do you see as a trend setter and why
Our industry is still very much the wild west, it’s hard to say is a stand out trend setter.
Transcript:
Chris:
Welcome to Industry Champions. I’m your host, Chris Budihas. And joining me from Colorado is Jesse Holsapple with Blue Mountain Capital. Jesse, how are you doing?
Jesse:
Well. How are you, Chris?
Chris:
Yeah, I’m doing well. Yeah. Life’s good. So a couple of things. Blue Mountain capital, what is this company and how did you create it?
Jesse:
Yeah. So creating it just got online, and started $100 LLC. But Blue Mountain Capital is a platform both Rec lending as well as a brokerage in the private lending space, commercial mortgages, everything that’s non-bank related. So if the bank says no, there’s a good chance that you and I are going to have a conversation.
Chris:
Okay, interesting. So how did you get in this space?
Jesse:
I got recruited into it. I actually didn’t realize there was a whole ecosystem for these loan types specifically for investors. We don’t do anything owner occupied. It’s all business to business. Okay. I got recruited into space. Somebody said I might be really good at it. I, you know, I took it with an open mind, explored the products, who they’re pitching their products to, who they work with. It did look interesting. I jumped in, I never left.
Chris:
That’s great. And how long have you been in this space?
Jesse:
Probably right around seven years, I would say.
Chris:
Okay, so you survived Covid graduations. We all lived. Yeah, yeah. So how was how is how did Covid, the pandemic shape or the current state of the economy and shape what you’re doing now?
Jesse:
You know, that I would have to say I don’t want to say that’s a loaded question, but I think the straightforward answer would be that a lot of folks saw those rates drop. It was basically just kind of a blitz in time where we’re never going to see that again. I could say that confidently, but we did see it for a couple of years. And when you see that kind of thing for a couple of years, there’s a big thing in our space where we don’t want to mismanage expectations. We want to manage expectations. I would say that at that moment in time, we could still see lingering effects this many years later, where folks do keep wanting to hold out and look for a better rate that comes closer to those levels when the reality is we’re just not going to see those. Okay. That would probably be the biggest effect in our space, but I would say probably most people’s faces in the mortgage space.
Chris:
Okay. And there’s obviously other folks in the space. What’s your value proposition like why you and not somebody else.
Jesse:
Yeah. So if something is hitting our desk at this point, it is probably because 3 or 4 other folks, including the bank or agency debt, have said no. A lot of the time we’re still looking for something to paper. We want to make sure that it is a good deal. If you’re doing some sort of a short term financing play, we want to make sure that you’re going to be able to exit. Yeah. Whether that’s a lease up strategy. We want to make sure that your Performa matches market rents. So that way when you’re taken out we can find, you know, more of an accurate ratio, something that the agency or the bank would want at that point. But you need to start here with us where we are to get to that point later on. Could be a new build as well. We do a lot of construction. The advantage with working with somebody like us in the private lending space versus the bank is we’re going to be a lot quicker. You know, national builders are folks that have timelines. They have timelines. They get to keep every year goals and certain tranches they have to hit per quarter. So we’re helping them execute those deals. The bank may have already tapped out their limit. There’s something called the maximum allowable per borrower. Maybe they have a $10 million cap. Just for an example. You have three loans out. You do luxury builds at 3 million. You got three bills. They’re all going to take about eight months to build, but you need to get two more off the ground in the next 3045 days. Well, waiting on the bank or to sell a property to recoup some of that limit is really not an option for you at that point. And so you need to explore some alternative financing. That’s where we come in. We’re not looking at Dty most of the time. We don’t care about tax returns. We’re looking for liquidity, experience and project locations that are going to make sense. And you’re not going to be on the market, you know, way past your maturity date.
Chris:
Okay. Yeah. And Jesse, you’re out of Colorado, but what’s your geographical reach? You know, you take a look at future current clients that you’re going to bring on. What area are you servicing?
Jesse:
You know, we’re all over the United States. I would say that it’s easier to answer that with where we’re not servicing California, Nevada, Utah and Arizona. Okay. In North and South Dakota. But we’ve got loans all over the place currently. We’ve got folks in Michigan, we’ve got deals in Miami. We’ve got places in Georgia, Oklahoma. We just closed on the other day. So the relationships that we build out are typically referral partners. If it’s a state that we’re lending in, we’re happy to look at those markets and see if it’s something that, you know, we feel pretty confident that we can take on.
Chris:
Interesting. Yeah. So we’re talking earlier. You know, you’re a business owner. Yeah I did the same thing down here in Florida. And people ask me, how hard is it? Create a business like 24 hours. You can, you know, register with Florida Sun Biz and you can get your number from the IRS and then you’re off and cooking. But the reality of it, like I asked them, what do you know about business finance? Not much. Well, guess who’s the CFO? You are to hire somebody you know when you have marketing. Not that much. Well, guess who. The chief marketing officer. So, you know, if anybody, you know, advice to others as they consider taking a look at creating their own business, any advice you have for them?
Jesse:
Yeah. Really burrow yourself in on something that you’re good at. There’s a lot of people that want to do a lot of different things. I know that it sounds enticing, right? But what does that saying a master of all is a master of none? I find that to be very, very true. You know, when I got started, you know, coming from a banking background, primary mortgages, agency and private lending, at this point, there’s a lot of things that enticed me to say, hey, you know, maybe I could take this one off to the side, but I would notice that would get in the way with what I’m really good at. Right. A lot of the different commercial mortgages or construction loans on residential multifamily, I’d be spending too much time over in a pocket I could say yes to, but I wasn’t necessarily built out for. Yeah. And I think if you’re going to do something, pick something you’re really good at and become the master of that trade.
Chris:
That’s why. Why is it there? So so, Jesse, for you. How do folks find specifically Blue Mountain Capital then? How do they find you?
Jesse:
Yeah. You know, we have a website, BMC Private Lending. But a lot of folks, believe it or not, came from LinkedIn initially. I have a lot of different long standing relationships that came from somebody saying, hello, I think we could connect. We’re in similar industries or, hey, are you doing these kinds of loans? Believe it or not, having a website, I think maybe I’ve gotten 1 or 2 inquiries organically from there. But most of the time our business is coming from cold calls going to different mixers in our area, but cold calls making sure that it’s a strategically targeted potential referral partner has definitely bore a lot of fruit.
Chris:
That’s awesome. Well, hey, this wise advice. Hey, thanks for coming on and talking about Blue Mountain Capital, how you’re doing, what you do, and the value proposition you bring to your clients. We’re going to just take all that contact information, put on our show notes, and encourage people to reach out to either DMU or get on the website and find out more. And then if they have a need to look to be a client in Blue Mountain Capital. So thanks, Jesse.
Jesse:
Yeah. Thank you.
Chris:
I appreciate it. Hey, folks, connect with Jesse and I on LinkedIn. I’d love to continue the conversation. Take a look at what Blue Mountain Capital is doing. If you have a need. Reach out to him or go to the website. We’ll see our next segment. And live with gratitude.
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