Avoid Safeguard Capital Partners

[Dan Liston]

Last week I finished foreclosing on four properties. It took three years and I lost over $200,000 on those deals alone!! 100% of the deals I've done with Safeguard have had late payments and/or major issues. I’ve seen many other complaints about them around the internet. I have been a Real Estate investor for about 35 years and have never experienced such incompetence. In fact, the title companies and attorneys I've dealt with during the foreclosure process were also surprised by their incompetence. The worst part is, during 4+ years of problems, I’ve continuously tried to give them the benefit of the doubt and hoped they would learn from their mistakes. Unfortunately, they do not learn and appear to bury their heads in the sand. It's honestly a very sad situation and I am convinced they are simply in way over their heads.

[Basit Siddiqi]

Quote from @Lucy Ahl:

Quote from @Dan Liston:

Last week I finished foreclosing on four properties. It took three years and I lost over $200,000 on those deals alone!! 100% of the deals I've done with Safeguard have had late payments and/or major issues. I’ve seen many other complaints about them around the internet. I have been a Real Estate investor for about 35 years and have never experienced such incompetence. In fact, the title companies and attorneys I've dealt with during the foreclosure process were also surprised by their incompetence. The worst part is, during 4+ years of problems, I’ve continuously tried to give them the benefit of the doubt and hoped they would learn from their mistakes. Unfortunately, they do not learn and appear to bury their heads in the sand. It's honestly a very sad situation and I am convinced they are simply in way over their heads.

Good information. Also, stay away from Insula Capital AKA Atlantic Capital Holdings out of New York (Long Island) I didn't lose $200,000 but lost $10,000 plus on a deal they gave us a funding letter for $300,000 cash for a flip we were purchasing. Last minute they changed the deal to a mortgagee loan and cut the SOW from $65,000 to $40,000. Then stated couldn't fund to a partnership only an LLC or Corp. Seller has decided to walk with our EM and put the house back on the market. Refuses to extend the 15 day escrow which we did because we were told it was a cash deal. How do these people sleep at night?

Sounds like this is a private money lender or a hard money lender.
If you are getting funds from another source and relying on that to close, you should not put in the purchase agreement that you are buying with cash.