Jay C.
Level 2: ContributorReviews by Jay C.
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Ambitious Contrarians Deliver with Transparency & Integrity
Eckard Enterprises is an ambitious, family-owned business rapidly growing its petroleum empire. They prefer engaged private investors they can have a family dinner with, not cold, disinterested business partners. The yearly conference in OKC was AMAZING, met almost every employee, had meals with them, spent a day on tour of the oil patch with them, visiting all of the various assets classes and stages. They also do monthly oil patch field trips if you miss the conference - imagine yourself in a church van with employees & landmen! # Upsides * Transparency and Technology: Expect updates at least monthly, sometimes weekly, delivered via mobile app, website, email, videos, livestreams, text, and/or phone calls. The Eckard Insight website & mobile apps offer cash flow updates, asset performance metrics, tax form access, a secondary marketplace, and more. See your deeds, see the oil well AFEs, know your well API numbers. * On-time Accounting: Monthly statements & payments will be made on time, every time. Infrequent schedule updates are communicated in advance with good justifications (e.g. holidays, major events). * Flexible Allocation: Blend income and growth assets across minerals, notes, and working interests under one roof. # Considerations * Real-Asset Volatility: Commodity swings and drilling delays are inherent to the space and can cause cash flow fluctuations. Many of the assets have a 6 to 12 month delay after investment before cashflow begins. The exception to both rules are their fixed-interest notes, which pay out without delay or fluctuations. * High-Conviction Leadership: Founder Troy Eckard’s bold, disciplined style and "lone wolf" expansion pace favor investors who value founder-led conviction over corporate polished PR. Ideal Eckard investors: * Embrace a Contrarian mindset * Engaged and excited by the asset, to celebrate successes with their partners * Eager to learn the asset class and due diligence. Eckard will provide a firehose of education. * Accredited, rich, repeat investors... 😉
Choose your own adventure of risk / return options
I like their fixed-interest Notes, especially the accredited versions that pay 9 to 12% yearly interest on a monthly, interest-only cadence. I am also a fan of their diverse accredited 2nd position notes and land installment purchase agreements with amortized repayments. I am _NOT_ a fan of their default, most-popular product, the individual Limited Recourse Obligation (LRO), fix and flip loan. I encountered too many foreclosures that brought the returns down significantly. But others I talk to say that mileage varies, I just picked a long, diverse list of grade A through D loans, and too many defaulted. Transparency, I also bought some of their private stock and convertible notes, but I have far more invested into actual products.