All Forum Posts by: Babi Shimon

Has any one ever used Limitless Funding Source?

They offer unsecure loans, not using any collateral. 

I'm exploring options and this seems like a good way for me to purchase the next deal but I'm treading lightly as using unsecure loans sounds pretty risky and of course I need to consider ALL things including their terms, market conditions, capital on hand (about 30k to invest) and my strategy which is to BRRR.

The goal is to acquire cash flowing rental property and scale as fast as possible. I can use hard money as well but I wanted to go below their minimum loan amount. I figure if I went with the unsecure loan I can purchase under that minimum loan amount that the HML requires (preserving my 30k in capital vs using it as a down payment). So I figured it was worth considering.

I would then refinance it into a DSCR 30 year fixed, pull the cash out and repeat the process similarly from thereon.

Even if you've never used this company (Limitless Funding Source) specifically, I'd like to hear about your experience in using unsecure loans to purchase rental properties.

@Babi Shimon Every lender will have different requirements for foreign nationals and what visa's they can accept. Do you have a partner in the US?

@Babi Shimon and @Chris Seveney It will be difficult to find a good team but if it was easy then everyone would do it. I am a local Pittsburgh native and have been investing here since 1993. Reach out and I can get you in touch with some local contractors, lenders etc..