This article originally appeared in the February 2025 edition of MortgagePoint magazine, online now.
Michael Gevurtz is an entrepreneur and investor in the real estate and finance industries. He is the CEO and Founder of Bluebird Lending, a national private lender servicing real estate developers and investors with an array of loan products to acquire, construct, and refinance residential and multifamily properties.
Michael has 14 years of experience in the real estate industry, having previously worked at Pennsylvania Real Estate Investment Trust (PREIT), co-founding Six Stone Management Group and investing in his own properties. He is experienced in all aspects of real estate ownership, including acquisitions, financing, development, construction management, leasing, and property management.
At PREIT, Michael worked as a site acquisitions associate, identifying and performing due diligence for acquiring land for retail power centers. He was also an Associate Director of Development, overseeing shopping center and enclosed mall development projects totaling over $50 million throughout the Mid-Atlantic region.
Since 2010, Michael has focused on opportunities in the revitalization of Philadelphia’s emerging neighborhoods. Michael has renovated and built from the ground up, over 75 single-family homes for sale and rent. He has developed and manages a portfolio of mixed-use properties throughout South Philadelphia.
Michael recently sat down with MortgagePoint to discuss how he got his start in the industry, and what differentiates his offerings from the competition.
Q: How did you first get your start in the industry?
It happened by accident in 2013. I was developing single-family and multifamily properties throughout Philadelphia. I secured financing with regional banks, but learned of competitors who were struggling to fund their projects. We were in a slow recovery from the 2008 great recession, and lenders were still hesitant to commit to projects. Some competitors approached me to partner on their projects, but I didn’t think that was the best way to proceed. So instead, I made senior secured bridge loans and monitored them as if I were managing the projects.
Q: What attracted you to get involved with revitalizing neighborhoods in need?
I believe that you can do well and do good at the same time, so I found a niche where that was possible. Some viewed this as some selfless, altruistic mission. It’s not. It’s good business when you discover an alignment of interest for several stakeholders, and everyone focuses on a favorable outcome.
Q: Did you have any mentors as you rose through the ranks in the industry?
My first professional mentor was Ron Rubin, former Chairman and CEO of Pennsylvania Real Estate Investment Trust (PREIT). He always said, “life is built on relationships.” That quote has stuck with me for almost 20 years as I continue to evolve and grow through my career. I think about how I can build, maintain, and leverage meaningful relationships to accomplish our goals.
Q: In the current market, what do you see as possible market corrections to amend the affordability crisis?
The affordability crisis can only be solved with supply. We need supply of capital to home builders and rehabbers to deliver product to the market. We also need lower rates to unlock the people who don’t want to sell because they are “stuck” with 3% interest on their mortgage. Unfortunately, I don’t see this correcting itself quickly.
Q: What suggestions do you have for renters who are on the outside of the home buying market looking in?
Buying a home should first be a lifestyle decision directed by your personal financial situation. It is not primarily an investment. It turns into an investment over the long run due to steady appreciation and amortizing your mortgage. The best time to buy a home is when you are ready, not when you think it’s a “good deal.”
Q: Do you see a shift ahead in the housing marketplace with the change in the White House?
You need more than the President to produce legislation, and it seems like each party will not give the other an inch for the good of the people. The housing market will normalize despite politics.
Q: What tools do you feel someone in the mortgage finance space needs today in order to survive and thrive in today’s marketplace?
The best way to differentiate yourself from the competition is by building trusting relationships with your clients. This will result in satisfied repeat clients and earn a sense of pride that you can build moment with.
Q: What advice would you give to anyone looking to break into the mortgage finance industry today?
Do not chase shiny objects. I see a lot of people bounce around looking for the next best thing. Find a place that aligns with your values and culture and work hard.
