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Updated 3 months ago, 09/06/2024
Anybody familiar with Keystone Funding Network?
Just doing an upfront due diligence because I am interested in working with them. Kindly let me know about any positive or negative experiences with Keystone Funding Network (Not Keystone Funding), I need to know about the network. Thanks.
@Josh Heckle - There definitely is a learning curve. The first few deals I submitted were denied because there wasn't enough profit. Once I learned the numbers - I only make offers on and subsequently submit deals that are within the parameters they have set or I am wasting everyone's time. Of my last three deals I submitted all three were approved. Knowing the numbers and having the right terms is key to success.
Just to clarify they will be your JV Partner. They are not hard money lenders. They use they're capital and credit to help you secure lending from hard money lenders. They will verify the numbers using the steps that they have in place to protect both you and them from a loss. If everything checks out you move forward. Again, know your numbers; have the right terms in place for all of your contracts in order to protect you from any financial loss ramifications and you'll be fine.
@Jason Harlin will give you money to purchase properties at housing auctions?
everybody get a pen and paper I got the information on Keystone funding Network it's a division of funding for flipping which is an internet program where they try to get you involved in getting their program using their computer software and all that kind of stuff Josh Allen will contact you after you get a 15 day free trial let me back up you can sign up and get a 15 day free trial everyday they will send you one or two or three or four emails and they all involve a video of some type just about as it tutorial supposedly I think really it's a smoke screen because you go into the website so far everything I pulled up is in the MLS just about and I tried to get to the funding sources they said they have hundreds of them and I signed up as a member for the 345 or $395 a month cuz I'm going to cancel in about 3 or 4 days anyway to see if they actually have lenders out there so far I can't get to it and I've met all their guidelines so what they do is Jerry Norton Jerry Norton it's called jln Group LLC 5406 West 11000 North Suite 444 Highland Utah 84003 I got several emails asking how I like the program so far I haven't been able to get into the program so far 90% of the time and as far as sources for funding they say they have sources for funding and it's free as I want me to respond to one of their emails where they will do a telephone interview so that I can be allowed access to hundreds of thousands of dollars and private investor money and what they do is an invedtor walk you through what you need to do like a mentor so to speak. after you find the deal you submit the deal and then what they do is they will give you a proof of funds letter so the person will take you legitimately I've never had to do that I just Pony up about $3,000 cash and put it in escrow so they know you're serious proof of funds letter doesn't mean squat most of the time especially from a private investor if it comes from a bank that's a different story so what they do is they want to walk you through the process supposedly they put a group of investors together and they fund 100% of your deal they will hook you up with the contractors who were going to do whatever improvements are and after everything is said and done basically you get a percentage of the net profit and they get the balamay get about 60% of the net profit. that may be good that may be bad I don't know they also say that they'll help you or assist you infinding the buyer I should say it sounds like a lot of work for private investor I don't really know that many private investors that get that invinvolved. My deals are min 20/25 % of the total sales price after repairs.
I will add this to what I just said above the guy who does the video is Jerry Norton and he must have taken a speed speaking course at some point. It's kind of like a a guy who gets really excited about something touch really really fast and you can't understand a word he says sometimes you have to slow it down I've also found that I'm not saying he is but I've also found that in my life I'm 61 years old a lot of hucksters do the same thing because they know if you show energy and excitement in a presentation more people will sign up then if you're dry as a bone
@Charles Snydet how long have you been signed up with KFN?
Josh, we are not a hard money lender. We don't care about member's income, credit etc. We don't collect for submissions, that's all free for our members. And we accept anything that makes sense, as explained. Usually it takes 3-5 submissions for new members before they understand how to run the numbers on their properties. And I am not sure why you are asking for alternatives when you don't even know what we do and how we do it? Feel free to contact us, I would be happy to explain.
So to explain myself a bit better, at the time I posted I was being bombarded with emails of fake hard money lenders who wanted to try and take money from me before closing(that I would never get back). I see that you are an actual company now and you obviously have a fairly good customer support/response team! I may be trying this soon as I have no problem finding great deals and could use the POF for making some good moves even on a wholesaler level. Do your business allow wholesaling? Sorry if I offended but asking for the 3k up front had me worried you were not a risk I was willing to take. I saw Keystone Funding had great reviews but was not sure if you were affiliated or just kind of using the name to drum up dumb fresh investors(which again, I now understand is not the case!). Thank you for sharing the thorough requirements that the process entails so one can pre-prepare when searching for prospects. I still wonder why no company will share, or knows of, the approval-to-denial ratio? That means a lot to a new investor because if you are spending hundreds on properties that don't get approved, it could become a snowball effect that keeps you from reaching your goal faster. Glad to see you are on top of things and I hope you keep that same passion for helping your clients/partners reach financial freedom once they sign up.
I forgot to mention I was aware of the process because I was contacted via email around the same time as the others....
My fellow investors!!!
DO NOT SIGN UP WITH THIS COMPANY KEYSTONE FUNDING NETWORK!!! they are a bunch of white collar criminals, I'm in the process of filing a complaint with the FBI about this company. Please check out these links below full of previous customers that are in serious financial troubles because of this company. The company goes by different names, another LLC as the registered agent, and has only be in good standing again, with the state of Utah since they renewed 10/11/2016. WHATEVER YOU DO PLEASE READ THE REVIEWS BELOW!!!
@Jason Harlin I find it funny that you don't have a profile picture and nothing written on your profile as well. Can we say SCAM everyone!!
Hello everyone, it's me again. I just wanted to give you an update. We recently approved another set of great properties, at the bottom of this reply I will refer you to one of our facebook pages for details.
First of all, Keystone Funding Network is a brand, not a company. Just like Nike is offered by multiple companies, KFN is offered by a few companies as well. And while we are on the subject, it is smart to protect your assets by using advantages that company structure offers. The corporate veil is a real thing; no need risking law suits or audits if you can use legal structures intended to protect you. Rolls Royce is owned by BMW and is a separate entity. So is Whirlpool, which is owned by Phillips, just to name a few. It is common practice for businesses large and small, and we too have a number of structures protecting our assets. Ask us how and why. We are happy to share:)
We try to be as transparent in the process as we can, and try to respond to concerns as best we can. But we are not a massive organization with employees to spare. We are a small group of Real Estate investors who have plenty of money and would love to extend our Real Estate reach beyond our own local market here in Utah. Great properties are everywhere, and it is in the end easier for us to partner with locals and split the profit, than it would be to send employees to scour your local area. That's basically the gist of it.
It is true that we are only interested in tying our money down on the best of properties. Lots might have good profit, but when you split those in half, and take some risk into account you can see why we shoot for the best. So we shoot for great profit. You would do the same if it was your money, right? Once our partners get that vision it is smooth sailing.
Our formula is simple. You find, we fund, we split the profit. We thought that was an awesome way for people to get into the Real Estate game and not carry all the risk and have to rely on their own credit and cash situation.
Want to see some of the many properties we are flipping with our partners? go to facebook and type in Wealth212 in the search bar.
I decided to take the plunge. Still a little confused on what is needed before the closing. I am in NJ and we use lawyers to close on real estate, unlike places like Fl. So it seems that has to come out of my pocket and Im not sure if that is reimbursed. Also there advice on earnest money is $300 or everything at closing. This is NJ where competition is tough. A decent downpayment is usually required in this area or you don't get a look in. So lets see. One deal is all I need to get my initial money back.
I had an appointment with them. I went to do my do diligence with them and all I found was great reports of how much money and how awesome they were.
I asked them for a few examples of houses they had done since they had done thousands. They said they could not do that. I asked them to send me a copy of the contract and they said they don't do business that way. I said if you are going to get my money to learn there new system I would like to know their parameters. They suggested I go get a w2 job.
Charles, grab a pen and paper because your a royally confused. We have nothing to do with Funding for Flipping. We are not an internet program (we barely have a presence on the internet). We do not have free trials. We don’t have videos (unless you are referring to the ONE short whiteboard vid we made) and we don’t have email campaigns. We don’t have $345-$395 memberships (we don’t even have those price points). I have never heard of a Jerry Norton, even though highland isn’t too far from us - I can see that city out of my office window lol.
Proof of funds letters are available for members anytime. Not sure what you mean with “after you submit”. Don’t forget the VOD! POF is easy, you can get those free on the internet, it’s the VOD you want! Again, any time acccess for our members. We are not private investors, it’s not third party money so you are tying down $3k where you didn’t have to if you weren’t confusing us with another program. We don’t put a group of private investors together. Again, wrong program, but 60% isn’t a number I have ever heard.
I am sure your review would be useful for whatever program you are commenting on, it’s not us.
Originally posted by @Charles Snydet:
everybody get a pen and paper I got the information on Keystone funding Network it's a division of funding for flipping which is an internet program where they try to get you involved in getting their program using their computer software and all that kind of stuff Josh Allen will contact you after you get a 15 day free trial let me back up you can sign up and get a 15 day free trial everyday they will send you one or two or three or four emails and they all involve a video of some type just about as it tutorial supposedly I think really it's a smoke screen because you go into the website so far everything I pulled up is in the MLS just about and I tried to get to the funding sources they said they have hundreds of them and I signed up as a member for the 345 or $395 a month cuz I'm going to cancel in about 3 or 4 days anyway to see if they actually have lenders out there so far I can't get to it and I've met all their guidelines so what they do is Jerry Norton Jerry Norton it's called jln Group LLC 5406 West 11000 North Suite 444 Highland Utah 84003 I got several emails asking how I like the program so far I haven't been able to get into the program so far 90% of the time and as far as sources for funding they say they have sources for funding and it's free as I want me to respond to one of their emails where they will do a telephone interview so that I can be allowed access to hundreds of thousands of dollars and private investor money and what they do is an invedtor walk you through what you need to do like a mentor so to speak. after you find the deal you submit the deal and then what they do is they will give you a proof of funds letter so the person will take you legitimately I've never had to do that I just Pony up about $3,000 cash and put it in escrow so they know you're serious proof of funds letter doesn't mean squat most of the time especially from a private investor if it comes from a bank that's a different story so what they do is they want to walk you through the process supposedly they put a group of investors together and they fund 100% of your deal they will hook you up with the contractors who were going to do whatever improvements are and after everything is said and done basically you get a percentage of the net profit and they get the balamay get about 60% of the net profit. that may be good that may be bad I don't know they also say that they'll help you or assist you infinding the buyer I should say it sounds like a lot of work for private investor I don't really know that many private investors that get that invinvolved. My deals are min 20/25 % of the total sales price after repairs.
My name is Charles Snyder. "Snyder ". I do not know who you are. My account got hacked about 6 months ago. I have been receiving everything from hate mail to bogus entries two products purchased online. Two credit cards we're used and numerous memberships signed up for during that period of time. I am sorry for the inconvenience your suffering having to respond to an email or a posting that I never sent.
I have no idea who you are. Normally I only deal locally unless it's a referral. Maybe the system will let you delete what the perpetrators have written.
Respectfully,
Charles E. Snyder
Michael, just go to Facebook and look up wealth212. You will find some examples. Sorry you had a bad experience. I pulled the phone Call and listened to it. It wasn’t exactly as you report, but that’s not here nor there I guess. The conversation was that you wanted us to jump through hoops and prove who we were and my people aren’t trained for this. We don’t even have exclusive teams on this brand. The people you talk to are our personal Investing teams, they help us flip, not sell on the phone as their primary jobs. Plus, while we have a membership agreement, if a contract is the basis for a deal, don’t even consider the partnership! If I don’t trust the person on the other side of the table, a contract won’t make a difference. Contracts don’t tell me anything more than that a clever attorney was hired to cross T’s and dot I’s.
There are lots of funding sources out there. We sure aren’t the solution to everyone’s needs, and we aren’t good partners for everyone. As a matter of fact, I ask my teams to make sure we find people we can have great time with. Life is too short to end up with parters you can’t stand lol. So, sorry we weren’t a match Michael. You live in a golden area with profits close to 100k! (At least based on what we have done in central Indiana, close to $50k checks per property for our field partners!). I am sure you can find plenty of funding partners willing to partner with you. Good luck in 2018!
Originally posted by @Michael Whitaker:
I had an appointment with them. I went to do my do diligence with them and all I found was great reports of how much money and how awesome they were.
I asked them for a few examples of houses they had done since they had done thousands. They said they could not do that. I asked them to send me a copy of the contract and they said they don't do business that way. I said if you are going to get my money to learn there new system I would like to know their parameters. They suggested I go get a w2 job.
Hi everyone,
First, thank you for sharing your experience about this group/brand/company.
I must say that I personally do not understand some thing about them, do they charge an upfront fee in order to get their loan?
Usually I have learned that paying an upfront fee to lenders is a big red flag - so what's the deal here?
Thanks in advance for your answers and I wish you all great success in your endeavors!
Arie D.
Yes there is a fee to get started, but I believe it's more for the training than to get funding.
I may be wrong on this, but if you decide to take the plunge go in prepared and read through the parameters listed above by Josh. BTW, the welcome and Q&A webinars are located in the blog outside of the membership site. Easier to navigate with a tablet or a computer. You will want to attend those as they will provide additional materials you will need.
If you know how to get a property under contract and you can meet their parameters you should have no problems. Go in with your guns a blazing, just make sure that if they aren't communicating with you and your due diligence period is nearing to pull out of the contract. Again, I recommend the webinars, at least the two mentioned before you ever join.
LOL... I am truly frustrated with them right now and I sound like their biggest fan.
I just talked to kfi and apparently their entry level price has risen. They want $5000 from me so I can make 20% of the profit??????????
I have like 2-3 guys that I can do this with. What's $5,000 divided by 3 anyway??....My only worry like everyone else is presenting them with 10 deals, and all 10 being declined, over and over again. I want to speak with REAL people who HAVE done numerous deals with them and can provide PROOF of those said deals. I cant stand scam companies.
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Originally posted by @Sean Senatore:
I have like 2-3 guys that I can do this with. What's $5,000 divided by 3 anyway??....My only worry like everyone else is presenting them with 10 deals, and all 10 being declined, over and over again. I want to speak with REAL people who HAVE done numerous deals with them and can provide PROOF of those said deals. I cant stand scam companies.
Utah is ground zero for these boiler room operations.. just another money grab for those dreamers who think they should be able to do real estate deals with non of their own money... those folks that reply to these are the easiest targets and have 3 to 5k in their credit cards.. LOL..
if you cant do the deal with your local HM lender and partner you meet at a reia and that you know you have no business doing this until you can. ( not you specifically the public)
also if you look at the laundry list of requirements to get funded MOST cant and wont be able to accomplish that.. so they get denied right there and the \3 to 5k is gonzo.... who gets 3 contractors to bid on projects these days.. the deal wont wait around for that stuff unless your in a very cold market.
- Jay Hinrichs
- Podcast Guest on Show #222
Originally posted by @Jay Hinrichs:
Originally posted by @Sean Senatore:
I have like 2-3 guys that I can do this with. What's $5,000 divided by 3 anyway??....My only worry like everyone else is presenting them with 10 deals, and all 10 being declined, over and over again. I want to speak with REAL people who HAVE done numerous deals with them and can provide PROOF of those said deals. I cant stand scam companies.
Utah is ground zero for these boiler room operations.. just another money grab for those dreamers who think they should be able to do real estate deals with non of their own money... those folks that reply to these are the easiest targets and have 3 to 5k in their credit cards.. LOL..
if you cant do the deal with your local HM lender and partner you meet at a reia and that you know you have no business doing this until you can. ( not you specifically the public)
also if you look at the laundry list of requirements to get funded MOST cant and wont be able to accomplish that.. so they get denied right there and the \3 to 5k is gonzo.... who gets 3 contractors to bid on projects these days.. the deal wont wait around for that stuff unless your in a very cold market.
Ugh, yes the requirements to get funded are over exaggerated. 2 bids is more then enough. Contractors are super busy nowadays. It does sound very easy to get people suckered into this stuff. But it sounds also so intriguing, that getting 3 people to cough up 5k JUST to try it sounds reasonable. I mean after 20 deals being declined I would run to their office and bulldoze it down.
Also I see money being added up by numerous declined deals. Earnest Money $1000, Home inspection $300, Appraisal $300, Gas and tolls and mileage on car to for due diligence $150. So it's about $1700 wasted on every deal that is declined. After 7 times, I would for hell give up. Knowing if a deal falls through, you do get your EMD back, if that is stated in contract, YOU are still spending $700 on the other stuff. $700 times 7 times, $5000 wasted.
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#3 All Forums Contributor
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Originally posted by @Sean Senatore:
Originally posted by @Jay Hinrichs:
Originally posted by @Sean Senatore:
I have like 2-3 guys that I can do this with. What's $5,000 divided by 3 anyway??....My only worry like everyone else is presenting them with 10 deals, and all 10 being declined, over and over again. I want to speak with REAL people who HAVE done numerous deals with them and can provide PROOF of those said deals. I cant stand scam companies.
Utah is ground zero for these boiler room operations.. just another money grab for those dreamers who think they should be able to do real estate deals with non of their own money... those folks that reply to these are the easiest targets and have 3 to 5k in their credit cards.. LOL..
if you cant do the deal with your local HM lender and partner you meet at a reia and that you know you have no business doing this until you can. ( not you specifically the public)
also if you look at the laundry list of requirements to get funded MOST cant and wont be able to accomplish that.. so they get denied right there and the \3 to 5k is gonzo.... who gets 3 contractors to bid on projects these days.. the deal wont wait around for that stuff unless your in a very cold market.
Ugh, yes the requirements to get funded are over exaggerated. 2 bids is more then enough. Contractors are super busy nowadays. It does sound very easy to get people suckered into this stuff. But it sounds also so intriguing, that getting 3 people to cough up 5k JUST to try it sounds reasonable. I mean after 20 deals being declined I would run to their office and bulldoze it down.
Also I see money being added up by numerous declined deals. Earnest Money $1000, Home inspection $300, Appraisal $300, Gas and tolls and mileage on car to for due diligence $150. So it's about $1700 wasted on every deal that is declined. After 7 times, I would for hell give up. Knowing if a deal falls through, you do get your EMD back, if that is stated in contract, YOU are still spending $700 on the other stuff. $700 times 7 times, $5000 wasted.
I encourage you to watch this show.... American Greed and the espisode on Remmington financial..
- Jay Hinrichs
- Podcast Guest on Show #222
Originally posted by @Jay Hinrichs:
Originally posted by @Sean Senatore:
Originally posted by @Jay Hinrichs:
Originally posted by @Sean Senatore:
I have like 2-3 guys that I can do this with. What's $5,000 divided by 3 anyway??....My only worry like everyone else is presenting them with 10 deals, and all 10 being declined, over and over again. I want to speak with REAL people who HAVE done numerous deals with them and can provide PROOF of those said deals. I cant stand scam companies.
Utah is ground zero for these boiler room operations.. just another money grab for those dreamers who think they should be able to do real estate deals with non of their own money... those folks that reply to these are the easiest targets and have 3 to 5k in their credit cards.. LOL..
if you cant do the deal with your local HM lender and partner you meet at a reia and that you know you have no business doing this until you can. ( not you specifically the public)
also if you look at the laundry list of requirements to get funded MOST cant and wont be able to accomplish that.. so they get denied right there and the \3 to 5k is gonzo.... who gets 3 contractors to bid on projects these days.. the deal wont wait around for that stuff unless your in a very cold market.
Ugh, yes the requirements to get funded are over exaggerated. 2 bids is more then enough. Contractors are super busy nowadays. It does sound very easy to get people suckered into this stuff. But it sounds also so intriguing, that getting 3 people to cough up 5k JUST to try it sounds reasonable. I mean after 20 deals being declined I would run to their office and bulldoze it down.
Also I see money being added up by numerous declined deals. Earnest Money $1000, Home inspection $300, Appraisal $300, Gas and tolls and mileage on car to for due diligence $150. So it's about $1700 wasted on every deal that is declined. After 7 times, I would for hell give up. Knowing if a deal falls through, you do get your EMD back, if that is stated in contract, YOU are still spending $700 on the other stuff. $700 times 7 times, $5000 wasted.
I encourage you to watch this show.... American Greed and the espisode on Remmington financial..
I'm going to check it out my friend. I'll see you on the forums of course. Take care
Hey everyone, time for another update.
I understand skepticism. But some of you are so far off base in spite of attempts to clarify, that I think some comments might help.
First, we have three requirements. Not a whole list as someone mentioned. This does exclude 80% of flippable properties, but then either way you probably shouldn't be touching that 80% anyways. Simple risk management. The "requirements" we have are fairly universal. Minimum profit requirement ($50k), rehab cannot exceed purchase price and under $600k ARV (we don't touch luxury homes because of DOM. Same for historical homes for that matter). That's it. THREE qualifiers. Are they easy to find? No of course not, that's where field partners come into play. We wouldn't need to share profits if they were easy to find.
Second, someone said we don't give property examples. Odd, as our facebook page has a few dozen.
Third, if you don't want to do a membership based version of creative funding, you have plenty of alternatives. You can set up your own creative version of a partnership, and depending on what you bring to the table (time, experience, funding) you can probably find a matching partner. If you have little to no cash, if you lack experience, if you have bad credit, well then that partnership is going to be a struggle. That's why we are an alternative our members are excited to be partnered with. You can of course also do traditional funding (banks): 20% down, qualifying credit and take 100% of the risk and manage the rehab yourself. Or hard money lending, which has similar cash up front requirements and also is all about the money (they don't help with the deal, it's all about cash).
Fourth, someone asked to talk to someone who is actually flipping with us. I believe a few people in the forum are our members and have tried to comment. Not sure how many would be enough? They tried to help without broadcasting their personal information and getting heaven know who contacting them to prove something they are part of but don't promote for a living, like our office staff.
Fifth (i was only thinking it was going to be three but here we are) some of you are referring to rejection numbers. Where are you getting those from? We don't have a single member in all these years who got anywhere close to 20 deals rejected. I don't even think we have a member who had half that. We work hard to help people understand what they are looking for. Besides, if rejection is a turnoff then don't try getting funding from a bank or hard money lender, and I frankly think you shouldn't go into Real Estate.
Finally, it if you are advertising your own company you probably shouldn't be giving negative reviews, especially if you never even talked to us. From your comments it seems you didn't even look at our website or social media and our contact records show we never talked to you.
If you have any questions, feel free to contact us directly. Get first hand information:)