here to help you ACHIEVE your goals
McKinley wouldn't be here today if it weren't for clients we've been blessed to serve over the years. While there are many individuals we could serve, we've found the following three types of people are the one's we serve best:
If you are receiving payments on a 1st position, performing note backed by real estate with a balance of $25,000 or greater, we can help you turn all or part of your future payments into cash today. We currently do not buy non-performing, 2nd position, unsecured notes.
If you own land, commercial, industrial or multi-family (5 unit or greater) real estate, we can help you turn part of your equity into cash. We are able to lend up to 70% of the value of your real estate and can do loans the banks won't. With all the new regulations, we've stepped away from consumer lending and will not lend against any residential or owner-occupied real estate.
If you are an experienced investor with a net worth of $500,000 or greater, we have opportunities for you to buy performing real estate notes that can generate consistent, secured returns. We also work with institutional investors that want us to build custom portfolios of performing notes to achieve their income goals. We are selective in which investors we work with and not all individuals that apply, get approved as a McKinley investor.
read more about the history of our family business.
THE STORY OF OUR FAMILY BUSINESS
It all started in 1974 when our family — the Prestons — moved to Homer, Alaska from Davis, California.
We began commercial gillnetting for wild Alaskan Salmon in Prince William Sound in 1979.
Tobias & Cece Preston were attending college at the University of Alaska Fairbanks in the late ‘80s and planned to earn their teaching degrees to complement the fishing business.
That is, until the winter of ‘89, when they drove 711 miles in the Arctic winter to attend a seminar on how to buy real estate notes...
Tobias and Cece saw a great opportunity to create a business that would serve both real estate note sellers, as well as investors.
Timing was good after the S&L crash, as real estate notes were plentiful at the same time that investors were looking for alternatives to Wall Street.
They put an ad in the Fairbanks Miner offering a 12% First Trust Deed and found a businessman who wanted to invest. The transaction was successfully closed and McKinley Mortgage was born!
Our style is sophisticated but transparent and personable. One of the Prestons is always happy to talk with an investor, borrower, note seller or vendor, all of whom we call our valued clients for life.
We still have a great friendship with our first investors from Fairbanks, and yes, the family fishing business is still going strong.
Now, 28 years later, McKinley Mortgage is the largest private lender in Alaska and a prominent note buyer nationwide. So far we have funded nearly 3,500 real estate note transactions and paid our investors over one hundred million dollars from interest income from 1st trust deeds.