All Forum Posts by: Casey Richards

Sounds like an interesting idea. Thanks. I will look into it

Hi Amber... no I didn't find anything that worked for me. 11Capital had some mild success with a company called Global Capital, but we got tripped up on their high "experience" requirement in order to make a loan. Ultimately, I went with the local credit union.

Recently I've seen stuff from FOACommerical.com that says they work in Vermont. Next time I am looking for funding I plan to look into them further.

Hello to the Bigger Pockets Community,

I am about to purchase my first real estate investment using outside friends and family for funding. The property is a tri-plex with the mortgage being carried by a local credit union. This is a commercial loan being made to our pre-existing LLC. The loan has been approved and requires a 20% downpayment which we are obtaining from individuals that aren't members of the LLC. We would prefer not to make them members of the LLC because that would prompt the bank to require them as guarantors on the loan.

Given this information, can I get some suggestions for how I could structure the deal for the investors? It would need to be appealing to them. My only thoughts at this point are to have them make personal higher interest loans to the LLC, but is there another way to do this which might allow them to share in the long-term profits of the property?

Thanks so much for your help and ideas...

Casey Ryan Richards
Rutland, Vermont

Thanks for the advice Tim. I think something went wrong for sure. I actually signed up before Christmas and I haven't heard a word. When I called the 800 number the lady told me they were behind because they had so many new clients. I continue to get emails every day promoting the service, but I haven't had any contact from the company outside of that. The receptionist had told me I would hear from them Friday morning (two days ago). This is where my concern comes for. We are over two weeks of silence now. You can bet I will be all over them Monday morning. I just wanted to see if anyone else has had the same problems because it will tell me what I'm dealing with.

Glad I found this thread. I'm having issues getting a reply from Fund and Grow. We paid them and haven't heard from anyone. It has been two weeks. Granted those two weeks had a few holidays, but no email or phone call. Also no reply to my support request about being overcharged on the initial payment. I'm very concerned about these guys, but it sounds like many people have had success. Any idea how to get someone to answer me at Fund and Grow?

We recently subscribed to a funding consultant called Fund and Grow that promotes their services to the REI community. They drafted more money than advertised from our account and never got in contact with us. Emails are being ignored and phone calls are being answered with excuses followed by broken promises. Has anyone used this company? If so, what was your experience? I'm starting to feel it is a scam, but they are saying the holidays are to blame. I'd love to hear from others on their experiences.

@Tom S. Thanks for following up. I got some good advice here and I'm talking to a few people now. Thanks.

Most of the big private lenders don't do business in Vermont. Does anyone know a hard money lender that operates in Vermont?