Lending one Rental Program to Finance

[Kevin Ho]

Hi All, 

I been in the process of working with Lending one on a loan conversion. Has anyone have any experience with Lendingone before? 

I took out a construction loan with lending one about a year ago to renovate a 3 family home. The loan was for $75k. Now that I finally got C/O for the property and it's finally starting to rent out, I'm working with someone from Lendingone on changing that construction loan to their rental 30 program which allows me to also cash out another 75-85k from the finished property. 

The only thing I notice is that it's pretty hard to qet quick replies from Lending One. I submitted all the required docs and am waiting to get an appraisal for the property. But have not been contacted by anyone about that yet. I know it's probably holiday season and delays can happen, but has anyone done this before and can share some light on this?? 

Thanks all. 

[Michaela G.]

I was told by lending one that a single member LLc in Georgia has to have their own fed I'd number,  which is not correct. it's pass through and can be handled through the member's personal tax return. So, I had to close with another company.