LENDER - Does anyone have experience with Stratton Equities?

Question

Has anyone used Stratton Equities for hard money/ fix n flip loans?

Caroline Gerardo · Answer

New Jersey to the max. Started 2018. The minimum loan $400000  though they advertise lower they want short term deal that pays four points or more. Michael Mikhail is the boss. Jake is helpful. Many on the phone can't answer questions. NOT for NONQM. They can do hard money on subject property that looks great. I do not sell or use hard money, I can steer you to someone who fits your unique situation, without any commission. Hard money is for short term deals when you are dire. You must have a plan to sell or refinance in twelve months. Don't take a prepayment penalty, buy out of it.

Jeremy Sullivan · Answer

Thank Aaron for the reply!  The information they sent over looked good but I agree with you that everyone that I spoke with seemed less than great.

Aaron Oetting · Answer

@Jeremy Sullivan I spoke with them a while back about a construction loan and was very unimpressed and they made my do not bother with any more lender list.

Chris Mason · Answer

No idea, never heard of them.

But who names their company after the Wolf of Wall Street company, even using their lion logo? The film isn't supposed to be a how-to guide....

Rob Beeman · Answer

@Jeremy Sullivan Can't say that I am familiar with them, however I am very familiar with fix n flip loans as I used them for many years and now supply them. Happy to help with any questions that you have about the loan type.  Also, I think I recently posted a blog here on BP about "Understanding Rehab Loans".

Paul Klei · Answer

From what you heard, are they reliable and are their fees pre or post-closing?

Devin Peterson · Answer

Hi Jeremy, I have heard of them once before, I just know they have higher expectations for points and fees. If you are looking for an affordable hard money fix and flip lender, there are others out there that won't charge 4 points.

Paul Klei · Answer

Hi Caroline, thanks for sharing. I have a call scheduled with Stratton tomorrow to discuss a hard money option. Their site seems to indicate that they offer the option to underwrite purely on the property, which is what I'm seeking. I'd greatly appreciate the names of other lenders you know of who fit that profile. Feel free to message me.

Jeremy Sullivan · Answer

Thanks Caroline! I appreciate the response.

Jeremy Sullivan · Answer

Lol. Good point!

LENDER - Does anyone have experience with Stratton Equities?

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