The Principals of LocalPaper have been in the real estate investment business for the past 20+ years

About us

Our principals have directly funded and subsequently managed the investment in over $1 Billion of real estate related assets including first mortgage fundings, NNN single tenant properties, real estate tax liens, and multi-family residential buildings. Since 2012 we have focused on directly sourcing and funding first lien loans on residential and commercial real estate.

The Principals of LocalPaper operate what is arguably the largest private lender in the State of Florida. As such, at LocalPaper we differentiate ourselves by vetting our own deals, in our own region, and funding each and every deal alongside the platform investors.

It is one thing to underwrite well, it is another to underwrite well and take risk alongside one’s partners.

Meet the team

Joel Eidelstein

Joel Eidelstein is a Partner and founder of NWL Residential and Rivo Alto Capital Funding, LLC (“Rivo Alto”). NWL Residential is a fully licensed lender in the State of Florida. Mr. Eidelstein manages the daily operations of NWL Residential with a focus on accounting, business strategy, and investor relations. Since 2012, NWL Residential has originated a total of approximately $587,000,000 of loans on both residential and commercial real estate. To date none of these loans has incurred a principal loss and the average realized gross annual internal rate of return on these loans has been approximately 10.25%.

Mr. Eidelstein is also the managing director of Rivo Alto Capital Funding LLC which acts as an investment advisor to various high net worth individuals and family offices. In addition to the loan investments referenced above, on behalf of its clients, Rivo Alto has concentrated on the identification, purchase, and disposition of various real estate related investments including in real estate tax lien certificates, multi-family assets, and credit tenant income-producing properties. Over this period, Mr. Eidelstein was directly responsible for the structure, acquisition, management, and disposition of approximately $400 million of real estate assets. Each of the individual investments produced a positive return for Rivo Alto’s investors.

Mr. Eidelstein graduated from Brandeis University in May 1988 with a Bachelors of Arts Degree in English Literature.

Ryan Powers

Ryan Powers began his real estate career in the tax lien industry, specializing in real estate debt acquisition. Ryan has purchased over $1 billion of delinquent tax receivables in over 150 jurisdictions. Since 2013, Ryan has originated over $200 million in bridge loans with zero capital loss to date. Ryan graduated from Vanderbilt University in 2005 with a B.A. in Economics. NMLS Florida 2013. NMLS Arizona 2014.

Mark Feldman

Mark Feldman is the Managing Partner of New Wave Loans Residential, LLC (“New Wave”) and Rivo Alto Capital Funding, LLC (“Rivo Alto”). Mr. Feldman manages the daily operations with a focus on underwriting, origination, analysis, and systems operations for New Wave, one of the largest private lenders in Florida and has direct daily oversight of a $300 million+ loan portfolio. Mr. Feldman is also the managing director of Rivo Alto which acts as an investment advisor to various high net worth individuals and family offices. Starting in 2009 through 2013, Mr. Feldman was responsible for the development of the infrastructure, due diligence, and servicing methodologies necessary to acquire and service over $400MM of tax lien inventory. From 2005 through 2008 Mr. Feldman acted as Manager in Rivo Alto Partners. In this capacity Mr. Feldman was involved in the acquisition, development, financing, and disposition of over $100 million of real estate assets. Mr. Feldman holds a B.S. Engineering degree from Tufts University.

Alexandra Nussenbaum

Alexandra manages Operations, Compliance and Accounting in NWL Residential. Alexandra has been a practicing Certified Public Accountant since 2011. She worked in Ernst & Young LLP for two years specializing in international tax consulting and real estate tax compliance. For the past 5 years Alexandra has focused in all facets of private lending. NMLS Licensed Mortgage Loan Originator (2013).

Alexandra holds a Master of Science in Taxation from the University of Miami and a Bachelor of Business Administration in Finance and Accounting from the University of Miami.