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Updated about 2 months ago,
Looking for advice on backflip lender
Hi - I was just curious if anyone has used backflip as a hard money lender? From what I have researched they seem legitimate but the person I am working with is flakey, takes forever to answer questions so I thought I would see if anyone else had experience with this lender. Thank you!
We have heard of them but have chosen not to close deals through them since we have found better options. We have a lot of investors that are way more flexible.
What you want to ask is if they are a direct lender funding and servicing your loan
- Jacob Sherman
- [email protected]
- 267-516-0896
They are legit. I've brokered with them quite a few times and while they are not my top lender, they are in the top 5. When the top ones can't/won't do the deal, Backflip usually will and they are super fast and easy. My client's have been happy with the draw process and response times as well. All of their products are Dutch-interest and their highest leverage option is a 1st position with a 2nd position loan wrapped with it to get to higher leverages. Those two things turn some folks off, but if the numbers work, they work. Get in, then get out.
Cheers!
- Nick Belsky
- [email protected]
Thank you for all the responses! They were all very helpful and appreciated.
Quote from @Nick Belsky:
They are legit. I've brokered with them quite a few times and while they are not my top lender, they are in the top 5. When the top ones can't/won't do the deal, Backflip usually will and they are super fast and easy. My client's have been happy with the draw process and response times as well. All of their products are Dutch-interest and their highest leverage option is a 1st position with a 2nd position loan wrapped with it to get to higher leverages. Those two things turn some folks off, but if the numbers work, they work. Get in, then get out.
Cheers!
Who is the top lender you recommend? Thanks!
Quote from @Ryan Davies:
We have heard of them but have chosen not to close deals through them since we have found better options. We have a lot of investors that are way more flexible.
Who is the top lender you recommend? Thanks!
Quote from @Nick Belsky:
They are legit. I've brokered with them quite a few times and while they are not my top lender, they are in the top 5. When the top ones can't/won't do the deal, Backflip usually will and they are super fast and easy. My client's have been happy with the draw process and response times as well. All of their products are Dutch-interest and their highest leverage option is a 1st position with a 2nd position loan wrapped with it to get to higher leverages. Those two things turn some folks off, but if the numbers work, they work. Get in, then get out.
Cheers!
Are you willing to share who your top 2 lenders are?
Quote from @Ryan Davies:
We have heard of them but have chosen not to close deals through them since we have found better options. We have a lot of investors that are way more flexible.
Who is your favorite lender to work with?
Quote from @Ryan Davies:
We have heard of them but have chosen not to close deals through them since we have found better options. We have a lot of investors that are way more flexible.
Would you be so kind to share please?
Quote from @Magdalene Leon:
Hi - I was just curious if anyone has used backflip as a hard money lender? From what I have researched they seem legitimate but the person I am working with is flakey, takes forever to answer questions so I thought I would see if anyone else had experience with this lender. Thank you!
I am always happy to chat about hard money - and I am biased, but I think I am an excellent communicator! ;)
Quote from @Magdalene Leon:
Hi - I was just curious if anyone has used backflip as a hard money lender? From what I have researched they seem legitimate but the person I am working with is flakey, takes forever to answer questions so I thought I would see if anyone else had experience with this lender. Thank you!
Just closed on my first loan with them. Very tech-forward and straightforward experience.
Quote from @Ryan Davies:
We have heard of them but have chosen not to close deals through them since we have found better options. We have a lot of investors that are way more flexible.
Hi Ryan,
would you mind sharing who you use?
thanks
Quote from @Ryan Davies:
We have heard of them but have chosen not to close deals through them since we have found better options. We have a lot of investors that are way more flexible.
Would you mind sharing your better options?
So far, no issue other than the biosecurity stuff. I get having a driver's license to verify identity, but recording your head turning like a mug shot is a little much.
Quote from @Shawn David sawtelle:
So far, no issue other than the biosecurity stuff. I get having a driver's license to verify identity, but recording your head turning like a mug shot is a little much.
Lol. I had one client who couldn't get past this due to laughing too hard during the process. It is a bit overkill for sure. She said she had to think about something sad to calm herself down so the camera would accept her face. Lol.
Cheers!
- Nick Belsky
- [email protected]
I haven’t worked with Backflip personally, but they seem legitimate. If communication is an issue, consider getting everything in writing or checking reviews for more feedback.
Quote from @Janet Pritchett:
Quote from @Magdalene Leon:
Hi - I was just curious if anyone has used backflip as a hard money lender? From what I have researched they seem legitimate but the person I am working with is flakey, takes forever to answer questions so I thought I would see if anyone else had experience with this lender. Thank you!
I am always happy to chat about hard money - and I am biased, but I think I am an excellent communicator! ;)
Hi Janet, Are you a hard money lender or a traditional lender?
Quote from @Rahman Sobhan:
Quote from @Janet Pritchett:
Quote from @Magdalene Leon:
Hi - I was just curious if anyone has used backflip as a hard money lender? From what I have researched they seem legitimate but the person I am working with is flakey, takes forever to answer questions so I thought I would see if anyone else had experience with this lender. Thank you!
I am always happy to chat about hard money - and I am biased, but I think I am an excellent communicator! ;)
Hi Janet, Are you a hard money lender or a traditional lender?
@Magdalene Leon - I'm happy to discuss Backflip's loan products and our process. Don't hesitate to reach out!