Anybody use B2R Finance?

[Jeff S.]

Had a friend call me about a mailer from this company. Has anyone tried them? He has quite a few properties and has exhausted his loan originating abilities. According to these lenders they don't care about debt ratios or tax returns and do blanket loans-minimum 300k. 75% LTV and 5-7% w/5 yr balloon.

[Marcus Hendren]

Jeff S. I used them for my last purchase because I couldn't qualify for conventional lending. Overall, I would have to say the process was extremely stressful. The deal was off market, the seller found another home that was contingent on our deal closing. It got to the point that the sellers bank was going to walk away because B2R was missing every timetable set during their due diligence process. I was dealing with multiple people from the company where correspondence was lacking. Seemed like every job was outsourced to a third party and information was never relayed correctly. Things they told me weren't necessary became necessary two weeks down the road. For example, I had to pay $200 to take a 4 hour property management class because I was one month short of the two years experience for self management. It literally came to the last hour or the deal was going to fall through. We did close, but I won't use them again. I think the time spent running in circles for them would be better used finding a local private lender.