The Wren, a Crowne Plaza Hotel, is an example of Caliber’s value-added approach. That accounts for about 20 percent of our activities at the present time.” Flipping can be taking a small home, adding another bedroom and making the whole property more modern-not just a facelift. “We used to only flip homes, and we still flip properties, but in 20 we did it in an entirely different way than we do today,” Loeffler says. She oversees the real estate brokerage and design work for Caliber’s projects. Jennifer Schrader, 32, began her career as a real estate investor after attending architecture school. Donnie Schrader, 34, who worked in finance and insurance before becoming a real estate investor, oversees acquisitions and remodeling. Loeffler, 29, whose background is in banking and accounting, oversees Caliber’s business systems, strategic relationships and commercial asset acquisitions. The company has expanded its services to buying, renovating and managing commercial properties including apartment and business complexes and its newest venture, the Wren hotel. Today, Caliber Companies has 31 employees, is housed in spiffy Airpark offices and has a real estate portfolio worth more than $50 million.
“The old way of doing business was, ‘I sell you a deal and I make a big commission and hopefully you do, too, later on.’ Instead, we don’t make anything unless the property makes money on the other side.” “The way we won the game was through referrals and performance and by aligning our interests with that of our investors. “At the time transactions were being completed quickly and we were able to perform quickly,” Loeffler says. Working from their homes, Loeffler and the Schraders found their first client. We had just gone through this hellacious period and people inherently knew that in theory it was a good time to invest, but connecting that theory to reality was difficult.”
“This business was born in a period of fear,” says Chris Loeffler, who founded Caliber Companies with partners Donnie and Jennifer Schrader. In an era of financial anxiety, a young Airpark company captures the trust and imagination of investors, amassing a $50 million real estate portfolio.Īt the height of the global recession, three young entrepreneurs decided to buck the trend and start a real estate investment business, building on their shared experience in flipping houses, design and finance.
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