About Us | Heritage Capital

Heritage Capital is a real estate investment company specializing in the acquisition, development, and sale of residential properties throughout Utah.

With a focus on development opportunities and over 35 years of combined experience, the team at Heritage Capital has demonstrated an ability to identify and unlock unrealized value, source off-market opportunities, and produce outsized returns and attractive yields otherwise not available in the primary market.

Management Team

John Scott Underwood

Founder & Managing Partner

John is responsible for sourcing new acquisitions and generating deal flow, analyzing market trends, and engaging resources in the capital market.

John has been actively involved in real estate construction & development for 35+ years, and continues to add to his $250MM+ portfolio of residential, commercial, & multifamily builds.

His experience and long standing connections help Heritage Capital to build and maintain strategic relationships with key stakeholders, granting privileged access to off-market deals and proprietary deal flow. These strategic relationships not only help to secure exceptional opportunities, but also lead to maximized returns for investors through optimizing expenditures and increasing overall profitability.

Mikala Vassallo

Co-founder & Managing Partner

Mikala is responsible for underwriting deal feasibility, investor relations and capital raising. She also oversees business development, advancing Heritage Capital’s growth agenda and portfolio value.

Before founding Heritage Capital, Mikala worked at J.P. Morgan’s Private Bank, specializing in real estate investment lending for high-net-worth and ultra-high-net-worth clients. She was also a foundational member of a NYC-based financing firm, specializing in lending to startup software companies. Within her first 12 months, she facilitated over $20MM in debt financing for 30+ startup organizations.

She has a keen understanding of investor relationships, and brings valuable contacts from her tenure at J.P. Morgan. Mikala holds her Series 7, 63, 65, and 66 licenses.

High Demand Markets

We strategically focus our investments in markets with strong economies, high fiscal stability and high demand. This targeted approach allows us to provide accredited investors with unparalleled opportunities to invest directly in top-tier real estate markets, ensuring a robust and secure investment environment.

Prioritize Strong Fundamentals

The fund focuses on what we do best - real estate and land development opportunities to capitalize on current market opportunities. We seek to only invest in properties that can return at least 20% IRR in 4 years or less, with preferred IRR of 25%+.

Hedge Interest Rate Risk

We typically invest in areas that attract cash buyers who purchase properties as secondary or investment properties, thereby hedging interest rate risk.

Our Strategy

The Heritage Edge

We capitalize on our strategic relationships to access proprietary deal flow and secure exceptional opportunities. These relationships not only help us secure high-value investments, but also maximizes returns for our investors by optimizing our expenditure and increasing overall profitability.

Our long standing connections with key players grant us:

privileged access to off-market deals

discounted pricing below market value

partnerships with local agents to presell properties

Source & Evaluate

We analyze hundreds of deals in areas with high housing demand that boast the strongest economies and highest fiscal stabilities in the nation.

Build or Renovate

We get to work on building or renovating properties use our tenured negotiating power for building materials, significantly reducing project costs.

Sell Properties

We partner with local real estate agents for the presale of homes, and aim to sell each property prior to its completion. All of our properties increase in value immediately after our renovation. After 3-5 years, we sell with a large ROI, and repeat this strategy to continue maximizing investor returns.