We are Loopy.
Loopy, Ltd. is really a stage name for Mitch Meyer. Intent on being a small shop, Loopy Ltd. has still bought, sold, developed, built, refurbished and demolished millions of square feet of real estate. Loopy Ltd. has a solid reputation in the San Antonio real estate community and is probably known more for complicated and audacious projects than mainstream cookie-cutter projects. If it’s something that everybody else is doing it’s unlikely you will find Loopy Ltd. We’re happy to say that we march to a different drummer.
Loopy, Ltd. was born in the days of the RTC while the savings and loan companies were going under. Mitch cleared out his savings and bought everything he could afford at the RTC auctions. Eventually, these properties were sold, refinanced or leveraged into new projects. As time rolled on Loopy realized its knack for taking on troubled assets or properties that were left for dead. When underperforming assets became harder to find Loopy turned to development and minor land speculation. Due to Loopy’s strong feelings about the rebirth of urban areas and an equally strong dislike of suburban sprawl most of Loopy’s investments are close to downtown or in older mature neighborhoods. Loopy Ltd. plans to ride the urban wave and look for investments in obscure locations for the foreseeable future. In other words, there is no telling where we’ll wind up but we won’t give up on our commitment to staying small, homegrown and family oriented.
Our investment numbers are based on market realities, not puffed up projected pro-formas that never materialize. We wouldn’t dream of buying something on a 6 cap without a very solid exit plan. We look at our investments strictly from a common sense point of view and never forget that we exist to make money. Most of our real estate investments have a five to seven year horizon mainly because instant gratification rarely works and long term investments tend to flatten out after year seven.
Loopy Ltd. is in tune with the macro side of things as well as the micro. If the economy is going to hell in a hat box then we will probably pay more attention to that information than tempting local trends. In the back of our minds we never feel we have to make a deal. This is not to say we don’t take risks, we do indeed.