Any feedback on Visio Lending in Austin, TX ? Thanks much!

[Manon Sheiman]

I'm looking for two private money loans on two sfh in San Antonio, TX, and have read about the many unscupulous companies who take upfront fees and skip out on the loan at the end of escrow, which of course, scares me. 

I have spoken to one company so far, Visio, and they sound good, but I need to hear from someone here who has dealt with private money and perhaps with this company. They are based in Austin, TX, and only want to lend to rent-ready (these are), cash-flowing properties, which makes sense.

Can you kind folks please give me references to at least two or three reputable private money lenders in San Antonio TX area that will not rip me off?

I just went into contract with two beautiful SFH in good suburbs of San Antonio, TX for approx 220k each, and need loans of 120k on each of the properties.

I've never taken out a private money loan before, and am very nervous about finding a company that is genuine, as I've read the tales on the forum here, and also have Googled one company and read the many complaints about how these scam operations work. They take a hunk of a fee and then deny the loan at the last minute when there is no time left to rescue the sale.

I have a credit score close to 800, my husband 770, and we are putting down 100k each, as part of a 1031 exchange. I have to exchange 215k cash and 118k debt, so I need to either buy two houses at the average price of 220k or one all cash and pay nearly 30% in total California taxes on the debt of 118k.

The sq. footage is 2,438 and 2,625 respectively for a 4bd/3ba and 3bd/3ba.

Now that I'm crunching the numbers, I don't know if I made a huge mistake buying these properties with debt, as it looks like the cash flow will not be that high, and the area has already appreciated so much that I wonder if it will continue to appreciate.

I really need your input, Bigger Pockets people, and appreciate it very much. What do you think?

I can answer any other questions you might have about the deals.