Frisco Financing LLC out of Colorado

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Frisco Financing LLC out of Colorado

Stephen Booth
Investor · Jacksonville, FL · Member since 2022 · 12 posts · 12 votes

Hi BP,

I'm building a hard money lender network and came across someone with Frisco Financing in a Jacksonville RE Facebook group. Does anyone have any experience with Frisco Financing LLC based in Denver CO? The terms look good but all I've seen for reviews is from the website that was provided.

Thanks in advance!

Stephen

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Zach Edelman
Lender · New York, NY · Member since 2022 · 1k+ posts · 1k+ votes
3y

No, but Bigger Pockets should have a list of recommended hard money lenders. I would recommend checking out said list. Always good to have options when it comes to financing. 

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  • Charlie Bognar
    Gainesville, FL · Member since 2016 · 6 posts · 2 votes
    3y
    Can somebody please chip in? I am in the same situation. Any updates on Frisco Financing? thanks
    1Reply
  • James Heller
    Denver, CO · Member since 2020 · 69 posts · 89 votes
    3y

    Same boat. Had a guy named George Walker reach out to me on FB and the terms look attractive .... Maybe too attractive? Can't find anything on them anywhere else on the internet. Let me know what you all find

    1Reply
  • Jay HurstBusiness Member
    Lender · Dallas, TX · Member since 2017 · 1k+ posts · 1k+ votes
    3y

    There are countless HML on this site with reviews etc so you do not have to play the guessing game.

    Hurst Real Estate, INC4.991 Reviews
    WebsiteView Page
    1Reply
  • James Heller
    Denver, CO · Member since 2020 · 69 posts · 89 votes
    3y

    I have a go-to HML with awesome terms (.5 orig/10% int). I'm really looking for a PML who will do second positions for creative deals (that I hold longer term) or to increase my ability to take on fix and flip projects. Or simply a first position with higher leverage would cover half of my need

    1Reply
  • Vishal Amin
    Member since 2022 · 30 posts · 21 votes
    3y

    I have had a PML reach out to me from Frisco financing llc in a Cleveland RE group. The terms seem to good ro be true at 6% APR, 3.5 points, 6 month holding period.

    1Reply
  • Zach Edelman
    Lender · New York, NY · Member since 2022 · 1k+ posts · 1k+ votes
    3y

    No, but Bigger Pockets should have a list of recommended hard money lenders. I would recommend checking out said list. Always good to have options when it comes to financing. 

    2Reply
  • Mike Klarman
    Specialist · NJ · Member since 2022 · 1k+ posts · 650 votes
    3y

    So, the chances of Friscoe Financing being the actual lender is slim to none.  The way the industry works is that there are a half dozen to a dozen lenders with the money all those other lender sounding companies are brokers trying to sound like a lender.  They will bring your deal to one of the big guys. Now, a good broker is worth their weight in gold as they will shop for you, make all the calls for you, walk you through the process, etc.  Some brokers are lazy and don't care about anything but their own commission.  So it depends.

    But there are a few big guys and then a ton of little fish hustling their products.

    1Reply
  • Joseph Newsome
    Investor · Reno Nevada · Member since 2018 · 14 posts · 3 votes
    3y

    Hello, I ran into this company as well and wanted to share my experience. 

    Frisco Financing LLC is funded by First Electronic Bank, 2150 S 1300 E #400, Salt Lake City, UT 84106. Phone number is 801-572-4004. They have a reputation for very shady business practices and predatory loans. They are listed on the bottom of the Frisco website.

      I called First Electronic to verify Frisco, and they did admit working with them, and said, they do process their loans. They also said, the loans for Frisco are actually funded through the company Fundbox.com. I called up Funbox and explained the whole situation, and let them know I just wanted to make sure everything is legit. Funbox informed me that they have no relationship with Frisco at all, and they were alarmed to see the Frisco website looks exactly like theirs. In face, Funbox is sending all this information to their legal team to find out exactly what is going on. 

      I called First Electronic Bank again and spoke to the same woman who helped me the first time, and the same woman who told me that Funbox is the one funding Frisco. This time she had a different story, and pretty much blamed the bank managers.


    Now there are multiple companies investigating this, and I will keep digging around. On the surface, it looks like a huge scheme by First Electronic Bank and all fingers are pointing to them. Now they need to explain why. I will update when I know more, but please take this stern warning and 

    STAY AWAY FROM FRISCO FINAINCING LLC!

    1Reply
  • Joseph Newsome
    Investor · Reno Nevada · Member since 2018 · 14 posts · 3 votes
    3y

    IP address for Frisco Financing LLC if someone can dig.

    154.49.142.143
    0Reply
  • Joseph Newsome
    Investor · Reno Nevada · Member since 2018 · 14 posts · 3 votes
    3y

    Hey fam,

    I will update soon. DO NOT USE FRISCO FINANCING!!!! 

    0Reply
  • Stephen Booth
    OP
    Investor · Jacksonville, FL · Member since 2022 · 12 posts · 12 votes
    3y

    Wow, that’s pretty deep Joseph. On the positive side there seems to be some kind of connection to an actual lender now. The negative side is that it’s a predatory lender. The Google reviews for First Electronic Bank are an interesting read.

    2Reply
  • Joseph Newsome
    Investor · Reno Nevada · Member since 2018 · 14 posts · 3 votes
    3y
    Quote from @Stephen Booth:

    Wow, that’s pretty deep Joseph. On the positive side there seems to be some kind of connection to an actual lender now. The negative side is that it’s a predatory lender. The Google reviews for First Electronic Bank are an interesting read.


     Thank you. They almost got me, and I want to make sure it ends here. I am shutting the whole operation down. 

    0Reply
  • Joseph Newsome
    Investor · Reno Nevada · Member since 2018 · 14 posts · 3 votes
    3y

    Also, they advertise awards from Inc magazine and Forbes. I spoke to INC and they are now sending their legal team. Forbes doesn't seem to mind.

    0Reply
  • Account Closed
    Member since 2023 · 2 posts · 0 votes
    3y
    Quote from @Joseph Newsome:

    Also, they advertise awards from Inc magazine and Forbes. I spoke to INC and they are now sending their legal team. Forbes doesn't seem to mind.

    It's not rare that banks of other conventional lenders will give you a green light on a loan just to back out in the last second because something new came up, even if it's a small detail that won't have any effect on the loan, but they were just not aware of it before and need to go through the process. This might leave the investor in a very tough situation as they will never have enough time to find a new loan and the deal might be lost.

    This is exactly where private lending firms like Frisco financing Llc come in.
    All Direct affiliated lenders can asses and approve hard money loans within days and with no surprises. Being a first-time homebuyer has its perks! From excess fees and breaks to state incentive financing programs, you may qualify for several programs that allow you to save money on your first home just from getting funded by Frisco financing llc.
    0Reply
  • Joseph Newsome
    Investor · Reno Nevada · Member since 2018 · 14 posts · 3 votes
    3y

    Quote from @Account Closed:
    Quote from @Joseph Newsome:

    Also, they advertise awards from Inc magazine and Forbes. I spoke to INC and they are now sending their legal team. Forbes doesn't seem to mind.

    It's not rare that banks of other conventional lenders will give you a green light on a loan just to back out in the last second because something new came up, even if it's a small detail that won't have any effect on the loan, but they were just not aware of it before and need to go through the process. This might leave the investor in a very tough situation as they will never have enough time to find a new loan and the deal might be lost.

    This is exactly where private lending firms like Frisco financing Llc come in.
    All Direct affiliated lenders can asses and approve hard money loans within days and with no surprises. Being a first-time homebuyer has its perks! From excess fees and breaks to state incentive financing programs, you may qualify for several programs that allow you to save money on your first home just from getting funded by Frisco financing llc.

     Looks like the scammer showed up themselves. Hahahaha. You guys definitely have big bulls. I look forward to seeing you get shut down. I bet you are at the office now with the shredder. Bahahahaha

    0Reply
  • Nicole Pinedo
    Member since 2023 · 1 post · 1 vote
    2y

    WoW

    1Reply
  • Account Closed
    Member since 2023 · 2 posts · 0 votes
    2y

    It's simple.. Stan is a pro in the mortgage industry. He provides fantastic service and is an expert in his field. Start to finish, this was an excellent experience.

    0Reply
  • Joseph Newsome
    Investor · Reno Nevada · Member since 2018 · 14 posts · 3 votes
    2y

    Frisco sent me a fake email demanding I remove these comments. I politely asked for the requested license number and award verification, but they still refuse.

    it's a huge scam.

    0Reply
  • Charlie Bognar
    Gainesville, FL · Member since 2016 · 6 posts · 2 votes
    2y
    Thanks Joseph for all you have done in regards of them
    0Reply
  • Ruth Fezatte
    Member since 2023 · 3 posts · 0 votes
    2y

    I am looking for the lender can loan my site improvements. 

    George Walker emailed me to say, he can do the $5M with 2.5% RATE, sounds too good to be true.





    0Reply
  • Joseph Newsome
    Investor · Reno Nevada · Member since 2018 · 14 posts · 3 votes
    2y
    Quote from @Charlie Bognar:
    Thanks Joseph for all you have done in regards of them
    You are welcome. 🙏 
    0Reply
  • John Paulus
    Member since 2021 · 15 posts · 7 votes
    2y
    Quote from @James Heller:

    I have a go-to HML with awesome terms (.5 orig/10% int). I'm really looking for a PML who will do second positions for creative deals (that I hold longer term) or to increase my ability to take on fix and flip projects. Or simply a first position with higher leverage would cover half of my need


    Who are you using as your HML?

    1Reply
  • Ruth Fezatte
    Member since 2023 · 3 posts · 0 votes
    2y

    @John Paulus, can you please share  your lender's info ? Thank you so much 

    0Reply
  • John Paulus
    Member since 2021 · 15 posts · 7 votes
    2y
    Quote from @Ruth Fezatte:

    @John Paulus, can you please share  your lender's info ? Thank you so much 

     Ruth, I was asking @James Heller who he was using as a Hard Money Lender with those terms. I've been funding my own deals, because I have found most HML's fees, points and rates exorbinant.

    0Reply
  • Ruth Fezatte
    Member since 2023 · 3 posts · 0 votes
    2y

    @John Paulus Thank you so much 

    0Reply
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