Constructive loans - anyone closed with them?

Question

Anyone on here try Constructive Loans or work with @David Nunez ?

They strung me along, telling me everything is all good and on track until after hours on the day before closing they change the https://www.biggerpockets.com/forums/517/topics/693204-fix-and-flip-and-low-doc-rental-loans

Edited to add: I just tried to comment on the thread they posted a couple of days ago and got an error message that I'm can not post a reply....... hmmmmm, perhaps they don't want the truth to come out.

Mark

Tom Shallcross · Answer

Agree 100% with @Mark Faustrum and similar to him I've used Renovo on probably the majority of the properties you see in my bio.

From straight forward deals, to buying properties in demo court with cloudy title, they always come through. Feel free to DM me if you'd like an intro.

Jonathan Klemm · Answer

@Derrick Burtle - I can 2nd @Mark Faustrum & @Tom Shallcross Renovo Financial has been a great Chicago lender to work with.  Another HML I am likely going to work with soon is LimaOne Capital.  They are out of the Carolina's I believe but nationwide.

Happy to make intro to one or both of them.  Just shoot me a PM and I can provide contact info.

Mark F. · Answer

Hi @Derrick Burtle - sorry for the late reply I haven't had a chance to get on here in the last couple of days. I am using Renovo Financial, they are local to the Chicago area and are amazing to work with and I highly recommend them. They don't always work with brand new/no experience investors and they are not the cheapest game in town but they WILL ALWAYS CLOSE when they say they will, there is definitely a value to that. I just checked my online client portal and I've done 25 loans with them (combo of HML and 30yr fixed) and have been 100% satisfied each and every time.

If you'd like more information feel free to PM me.

Mark

Mark F. · Answer

Seems like they haven't changed at all - for anyone in the markets that they lend in, for anyone in the Chicagoland or Illinois market reach out to Eric Workman at Renovo Financial. I have done probably 40+ loans with them and they are TOP NOTCH, I have never missed a closing date with them as a lending partner by my side.

https://renovofinancial.com/locations/

If anyone needs more information or direct contact information feel free to DM me on here.

Mark

Andres Colmenares · Answer

Unfortunately, the same thing happened to my client, who lost his money, Jamie Seaton wasted my client's time by going back and forward asking for non-logical conditions, saying that my client was good and ready to close and then came back again asking for more non-logical conditions suggesting he would have to do another useless inspection, that would have cost more money to my client if he would accept it... RUN FROM THIS BANK!!

Nick Belsky · Answer

@Derrick Burtle

Renovo is excellent!  The only drawback that I know of is that they are in very few markets around the country.  Chicago is one of their biggest though!

I saw they recently started lending in Tampa as well.  They've been growing steadily these past few years.

Cheers!

Mark F. · Answer

Let me know if you hear anything, maybe that is a sign of how they do business or the fact that they are not doing business and no one is responding. Not surprised after my experience with them.

Funny thing is I met with another local lender and we talked about where I was at in my investing and what my future goals are, they VP of lending I met with did some quick math and projected that we would be doing $2.5-3m in business together over the next few years as I achieve my goal. I never looked at it that way but I guess that is what Constructive Loans and @David Nunez will be giving up as I won't give them another penny of my money or one positive word since they refuse to make it right.

Word of mouth is the best recommendation and they certainly won't have mine.....

John Burtle · Answer

I’m glad I did some research on constructive loans. Wow! I dodged a bullet. Do you have a suggestion on who to use as a HML in Illinois? You mentioned you met another lender and things were going well. I’m not having much luck with finding a reliable HML

Zachary Alex · Answer

I’ve been digging around for some info on Constructive as well. I look forward to some responses on one of your posts. Lol

Mark F. · Answer

Funny that no one has replied at all , perhaps they aren't really closing any loans.....

Constructive loans - anyone closed with them?

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