All Forum Posts by: Joe Kalis

It varies by bank and program, but that's part of what the program provides...helping you navigate through all that. 

 I'd be careful not to make claims you can't substantiate and have nothing to do with. The concept you're speaking about not only wasn't the case for me, but varies so wildly on a case-by-case basis, you can't possibly suggest something so matter of factly...even if you worked for the underwriting department of any of these banks. 

You can't, it's not the same as a bank line of credit you're referencing. 

 Thanks for the feedback, Milad! You're right that each card is different in their terms. To be fair, they range from 2-4%, in my experience as a client. :-) Also, in my experience, I was able to convert them all to cash...certainly more than 1-2. :-)

@Lennie Holland-- Josh Allen is a real person who leads the client team for Funding For Flipping, he's a good guy. :-) Kalbro Group, LLC is the holding company that my brother Dan and I own (get it...Kalis Brothers?), and we created the Funding For Flipping brand to promote unsecured credit to the real estate investor world. Good research! I promise you it's not a scam. :-)

@Account Closed-- thanks for the thorough explanation! Definitely all accurate with the exception of the "hefty fee" opinion. :-) If you're able to get $100K in funding for $8K, that's a ONE-TIME cost of 8%...something that you won't find in real estate outside of a conventional/FHA/VA mortgage. I'd also challenge your comment that you could do it yourself...lots of people have tried, but you need additional intelligence about how the financial market works in order to acquire the AMOUNT that we can for our clients. That's what the fee is for. You could certainly get SOME unsecured credit yourself, but if you don't know how the bureaus work, the banks will cut you off pretty quickly.

 You could certainly try! We've found that the average consumer is not able to get nearly the same amount of unsecured credit we are with our proven methods. It wouldn't be a business if everyone could do it. :-) 

@Richard Balsam-- that's a pretty thorough explanation! Just like any method of borrowing money, it should only be done with a responsible plan to pay it back, as you mentioned. You can get nailed for high interest payments regardless of which funding method you use. If you're using secured funding, then it's not the interest they charge that's the biggest issue, but that they TAKE YOUR HOUSE! All methods have risk. I can appreciate that you chose not to partake in this program for yourself, and certainly appreciate that your decision is based on you finding out the information yourself and making a decision vs. making stuff up. Like I said, every method of borrowing money has its pros and cons...this one is no different. 

@Manolo D. -- I'd be careful making huge assumptions like this. None of what you said is true, and borderline libel. We're certainly not interested in suing anyone, and I understand why you're saying what you do (we live in a crazy world where that sort of stuff does happen), but just be careful what you say.

Our company is BBB accredited and been around since 2008 with thousands of happy clients. That doesn't happen when you have an offshore call center stealing private information. It's not a scam, in this case. 

Hey @David Soest& @Mark Brauer! Sorry for the delay getting back to you here. Indeed, my brother Dan and I created the Funding For Flipping brand to promote unsecured credit to the real estate investor world (as an alternative to the traditional Hard Money and Private Funds lenders). For sake of respecting the rules of the forum, I'm not going to start explaining things or promoting the service, but would be glad to answer any questions or concerns you have about it. Feel free to PM me or post a question, and I'll do my best to get back to you! 

 Feel free to PM me if you'd like...my brother Dan and I created the Funding For Flipping brand to promote unsecured credit funding to the real estate investor world. :-) It is legitimate, but like any funding method, has its pros and cons. Really depends on what you're goals are, and if you qualify! 

 Hey David! Appreciate the confidence, sorry for the delay responding again. :-( It is what certainly people have said it is...unsecured credit by way of credit cards from major banks. Tammy Parsons did a pretty exhaustive explanation of what the program is a few comments up. 

The power behind using this service vs. doing it yourself (which you certainly could) is that there's definitely an art to applying in the right way to maximize the amount of credit you can get. If the average consumer applied for credit, they'd start getting denied after 3-4 inquiries. There's a strategic approach to apply for the right programs from the right banks in the right order that allows us to get more credit than a consumer could on their own. Is the difference worth the fee? That's for everyone to decide on their own...although you'll certainly hear the negative opinions the most on public forums like this. 

I am a client, as well, and was able to acquire $120K in credit that was then liquidated to cash, and the overall fee as a percentage was much lower than I could have gotten elsewhere. We were able to use the funds to run our business for 6 months, not just to acquire properties like traditional hard money loans/private funds (flexible).

As far as other BP members who are clients...we don't crosscheck them, and we also can't divulge who our clients are publicly, so I wouldn't be able to tell you. You can see a few of them have spoken up for themselves...not nearly as many as the people who have negative assumptions and tell everyone to run away without actually knowing anything about what the program actually is.

It's a tough industry to trust, we understand that. I'm glad to chat privately if you have further questions or concerns. We are not a scam, we are not sharks, we are not trying to steal your identity. It's just another funding program that requires a personal guarantor, vs. collateralizing your house or investment portfolio. It's certainly not for everyone, but is certainly a very viable option if you are already a responsible investor and have ways to use additional funds. :-)