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Jan 10, 2021 · 15m · top-founders

Hipotecalo Does $15m in Home Buyer Loans, Charges 13% gives investors 7%, they make the spread

Jorge Pastine · 7m spoken Nathan Latka · 5m spoken Frank Bien · 4s spoken Eric Yuan · 4s spoken Vivek Bhaskaran · 2s spoken
0:00 / 0:00

gold bands on the timeline = statements, start to end. Hover to read, click to jump. CC turns on captions

Fintech founder Jorge Pastine discusses how Hipotecalo scaled to $15 million in loan volume by monetizing a 6 percent interest rate spread on short-term agricultural and commercial bridge loans.

How this conversation actually went

Every chapter scored 0–10 on four independent dynamics. Hover any point for the reasoning behind the score. Nathan holds 42.6% of the talking time here. How this is scored →

Nathan as informed peer 5.3 Guest teaching 2.3 Guest disagreement 1.3 Nathan pushing back 3.3
05100:0010:003:36–6:04 · Nathan as informed peer 7/10 Financial Metrics and Spread Economics Latka quickly works through the unit economics, calculating the 6% spread on $15 million in volume to estimate roughly $900,000 in gross revenue. Jorge willingly confirms the breakdown and clarifies the tax and trust structure.6:04–11:07 · Nathan as informed peer 7/10 Borrower Profiles and Niche Lending Focus Latka presses Jorge on how Hippotecalo can resell paper without holding it on balance sheet, stating bluntly that he does not understand how that works. Jorge explains the agricultural loan rollover structure and short-term debt cycles.11:07–13:50 · Nathan as informed peer 5/10 Team Operations and Software IP Lessons Latka asks about team makeup and explores whether there is a software play, immediately pointing out a major mistake when Jorge admits they surrendered the software IP to outside developers.13:52–14:55 · Nathan as informed peer 2/10 The Famous Five Rapid Questions A standard Famous Five lightning round with rapid question-and-answer exchanges and minimal friction.3:36–6:04 · Guest teaching 2/10 Financial Metrics and Spread Economics Latka quickly works through the unit economics, calculating the 6% spread on $15 million in volume to estimate roughly $900,000 in gross revenue. Jorge willingly confirms the breakdown and clarifies the tax and trust structure.6:04–11:07 · Guest teaching 4/10 Borrower Profiles and Niche Lending Focus Latka presses Jorge on how Hippotecalo can resell paper without holding it on balance sheet, stating bluntly that he does not understand how that works. Jorge explains the agricultural loan rollover structure and short-term debt cycles.11:07–13:50 · Guest teaching 2/10 Team Operations and Software IP Lessons Latka asks about team makeup and explores whether there is a software play, immediately pointing out a major mistake when Jorge admits they surrendered the software IP to outside developers.13:52–14:55 · Guest teaching 1/10 The Famous Five Rapid Questions A standard Famous Five lightning round with rapid question-and-answer exchanges and minimal friction.3:36–6:04 · Guest disagreement 1/10 Financial Metrics and Spread Economics Latka quickly works through the unit economics, calculating the 6% spread on $15 million in volume to estimate roughly $900,000 in gross revenue. Jorge willingly confirms the breakdown and clarifies the tax and trust structure.6:04–11:07 · Guest disagreement 2/10 Borrower Profiles and Niche Lending Focus Latka presses Jorge on how Hippotecalo can resell paper without holding it on balance sheet, stating bluntly that he does not understand how that works. Jorge explains the agricultural loan rollover structure and short-term debt cycles.11:07–13:50 · Guest disagreement 1/10 Team Operations and Software IP Lessons Latka asks about team makeup and explores whether there is a software play, immediately pointing out a major mistake when Jorge admits they surrendered the software IP to outside developers.13:52–14:55 · Guest disagreement 1/10 The Famous Five Rapid Questions A standard Famous Five lightning round with rapid question-and-answer exchanges and minimal friction.3:36–6:04 · Nathan pushing back 2/10 Financial Metrics and Spread Economics Latka quickly works through the unit economics, calculating the 6% spread on $15 million in volume to estimate roughly $900,000 in gross revenue. Jorge willingly confirms the breakdown and clarifies the tax and trust structure.6:04–11:07 · Nathan pushing back 6/10 Borrower Profiles and Niche Lending Focus Latka presses Jorge on how Hippotecalo can resell paper without holding it on balance sheet, stating bluntly that he does not understand how that works. Jorge explains the agricultural loan rollover structure and short-term debt cycles.11:07–13:50 · Nathan pushing back 4/10 Team Operations and Software IP Lessons Latka asks about team makeup and explores whether there is a software play, immediately pointing out a major mistake when Jorge admits they surrendered the software IP to outside developers.13:52–14:55 · Nathan pushing back 1/10 The Famous Five Rapid Questions A standard Famous Five lightning round with rapid question-and-answer exchanges and minimal friction.

speaking balance: gold is Nathan, purple is the guest (3 minute bins)

0:00 · Nathan 59.8% · guest 40.2%0:00 · Nathan 59.8% · guest 40.2%3:00 · Nathan 36.7% · guest 63.3%3:00 · Nathan 36.7% · guest 63.3%6:00 · Nathan 31.7% · guest 68.3%6:00 · Nathan 31.7% · guest 68.3%9:00 · Nathan 41.7% · guest 58.3%9:00 · Nathan 41.7% · guest 58.3%12:00 · Nathan 29.9% · guest 70.1%12:00 · Nathan 29.9% · guest 70.1%15:00 · Nathan 98.6% · guest 1.4%15:00 · Nathan 98.6% · guest 1.4%
Sharpest disagreement ▶ 9:30 Jorge defends balance sheet strategy

Jorge pushes through Latka's confusion to firmly assert their partner capital injection plan and paper rollover model.

 Hardest push from Nathan ▶ 9:28 Latka presses paper ownership mechanics

Latka directly halts the conversation, stating he does not understand how Jorge plans to resell loans without previously holding the paper.

 Biggest teaching moment ▶ 7:11 Jorge explains agricultural niche

Jorge clarifies to Latka that they do not compete with residential bank mortgages, but instead service unbanked agricultural borrowers on short crop cycles.

 Nathan holds their own ▶ 4:45 Latka deduces exact revenue spread

Latka synthesizes the 13% borrower rate and 7% investor cost into a 6% net spread, accurately pegging the company's annual revenue at $900,000.
the scores for every segment, with the reasoning behind each
ChapterTopicNathan as informed peerGuest teachingGuest disagreementNathan pushing backWhy
Financial Metrics and Spread Economics 7212 Latka quickly works through the unit economics, calculating the 6% spread on $15 million in volume to estimate roughly $900,000 in gross revenue. Jorge willingly confirms the breakdown and clarifies the tax and trust structure.
Borrower Profiles and Niche Lending Focus 7426 Latka presses Jorge on how Hippotecalo can resell paper without holding it on balance sheet, stating bluntly that he does not understand how that works. Jorge explains the agricultural loan rollover structure and short-term debt cycles.
Team Operations and Software IP Lessons 5214 Latka asks about team makeup and explores whether there is a software play, immediately pointing out a major mistake when Jorge admits they surrendered the software IP to outside developers.
The Famous Five Rapid Questions 2111 A standard Famous Five lightning round with rapid question-and-answer exchanges and minimal friction.

Statements from this episode (7)

Assertion Not checkable as stated
Pastine: Hipotecalo scaled loan portfolio from $5M to $15M in year two
“Well, basically at the beginning, we reached five million dollars portfolio, and now we are fifteen million dollars in our second year, and we expect that twenty-five millions for the start.”
Jorge Pastine Jan 10, 2021 ▶ 3:39
Assertion Not checkable as stated
Pastine: Hipotecalo averages a 13% borrower rate and 7% funding cost
“Basically the average interest rate that we charge to the lenders is something around 13%, and the cost of funding is something around of seven percent.”
Jorge Pastine Jan 10, 2021 ▶ 4:31
Disclosure
Pastine: Hipotecalo rolls over loans annually for agricultural borrowers
“Suppose in case we have agricultors that, that we make rollovers in that time every year. Not consistently, but every year we have made a rollover With some of them, because they finance the campaign, the difference campaign every year.”
Jorge Pastine Jan 10, 2021 ▶ 6:51
Disclosure
Hipotecalo avoids residential mortgages to target unbanked agricultural borrowers
“Different because basically the residential mortgages sector is financed by the banks. And we focus on other we detected another niche of for our case, which is the people is not bankrupt as usual because That's the case of the agriculture, for example.”
Jorge Pastine Jan 10, 2021 ▶ 7:23
Disclosure
Pastine: Hipotecalo partners will inject capital for initial $5M portfolio
“Basically we'll, we will inject some capital the partners will inject some capital in order to fund an initial portfolio of five million dollars.”
Jorge Pastine Jan 10, 2021 ▶ 9:56
Disclosure
Pastine: Hipotecalo is fully bootstrapped without outside capital
“No bootstrapped.”
Jorge Pastine Jan 10, 2021 ▶ 11:13
Disclosure
Pastine: Hipotecalo lost IP rights on software built with partner developers
“They own it. We lose that, that deal.”
Jorge Pastine Jan 10, 2021 ▶ 12:44
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