Freedom Fund Lending w/Josh Cantwell

[Mike B.]

Hello fellow real estate enthusiasts.  I came across this company who says they do "asset-based" lending, meaning that they provide loans based solely on the property and not the borrowers credit history.  They claim to fund the purchase and complete rehab, including closing costs, upfront.   They charge 6 puts at close and a 16% interest only payments.   The initial loan period is 6 months, with a possible 6 month extension, for a small fee of course.  

I have done rehabs before and the 6 month window for a purchase, rehab, and prepare for sale is feasible, so Im trying to see what the "catch" is.  I have done a little research on Josh Cantrell and his other seminars, so it seems legit, but I figured I would bring it up on this forum since there are so many people in this community who have proven to be very knowledgeable about what works and who are scam artists.