All Forum Posts by: Cecilia Gonzalez

@Kathleen Mroczka

Thanks for sharing! This guy had all my personal information from a loan application he had us fill out. So scary to think these people are out there. He sounded so honest and real. Then when it came to the closing date he decided that he wasn't going to fund us for a crazy reason. 

We are in desperate need of a Hard Money Lender for properties in Indiana. We have a contract on one property and are ready to make an offer on a second one. We are either running into the problem were people we have talked with do not lend in Indiana or the one property isn't high enough in purchase price. The one property is being purchased for $48,500 and rehab is about $13,000. The second property is $37,500 with rehab of no more than $5,000. If you can help us out please contact me right away. THe first property has a closing date of 12/9/2015 but we can delay it only once without losing the contract and earnest money. Thank you!!

 Account Closed We were able to find a great person that was willing to work with us. Unfortunately do to the seller trying to scam is we had to back out of the deal. We are in the process of trying to get anther deal done and working on the contract. His name is Robert Reardin and he is from Florida as well. I do believe I received his information from this site. If you cannot find him on here I will try to send you his information. We had the same problem as you do. You will have to have some money for a down payment and closing costs. Good luck to you!!

We are looking for a Hard Money lender to help us with the purchase of our flip. We have a contract, two independent evaluation reviews of the home, a bid for the repairs from the general contractor who will be doing the repair work. We have had some bad luck with lenders in the past and should have closed on this home back in early June. Low credit score do to medical issues have kept me from going to traditional loan. If you can help me please let me know. Thanks!

I think you're both right! I wish I would have remembered that at the time, I would have saved me a huge headache. 

@Dean Weltman

We had such a hard time finding a private lender and going through a bank was just not an option at this time. This was out best get at this time. After two really bad experiences we finally found a good one. Like they say, "third times a charm!" Good luck to you!!

@Donna Y Dillon,

We already had are LLC which we had done through LegalZoom.com. The deal was better through LegalZoom anyway. Genco still was trying to push some of their other products which we were not interested in that would cost around $600. With dohardmoney.com we paid $650 for two evaluators to go out and evaluate the property to make sure it was worth the ARV that we were being told it was. The evaluators do their assessment and report back to the company and give them a value of the property and that is what they do the loan based on. So basically you are paying for the evaluators and their reports. The loan is 65%of the ARV. There are no other fees, the loan includes the repair costs, closing costs and there are no payments for 5 months, also no prepayment penalties. Hope this helps!

@Donna Y Dillon

I did not close with them. The morning if my closing he called me and said he would not find my project. He felt it was not "in a good neighborhood" and I would not make enough money. Nothing like stringing me along for two and a half weeks and then telling me this. The house is in a low crime neighborhood, and we have gone with, dohardmoney.com as our lender. They are much better. We had to do other things that genco didn't ask for but in the long run it turn out to work better for us and this company is much better than working with a guy who thinks he knows everything! good luck!!

@Dean Weltman

Avoid Genco Financial. Ihave been working with them for the past three weeks and was suppose to close on my property today and he decides to tell me today that he is not funding my project because he does not feel comfortable with the property. He gave me some song and dance about some stuff the realtor told him about the area and it is not true. He was really bad with retruning phone calls and emails andwould always avoid me. Some now I have to start all over. I have a contract on a house which I am now going to be out the deposit I put on the house thanks to this guy. Go with your other company. Cheaper isn't always better! Good luck to you!!

I am working with them right now and I can let you know how it goes. The only complaint I would as of right now is that I am having a hard time getting them to return my calls. They know I am under a time crunch and I just being told that he is really busy and he knows that this has to get done and he will get back to you. My closing date is this Friday, so I will let you know if it happens or not.