All Forum Posts by: Jonathan Orr

Hey Everybody, I'm in the same boat and about to have a client wire funds. I'm having a weird feeling due to the ease, the really good terms and the fact they aren't putting liens on the properties. Just seems too good to be true. 

Here is the guy that referred me. 

me to them. 

Nobody mentioning Detroit yet?

I guess that's generally my job :-)

Detroit is crushing it and you can still do small MFH under $250k. My last project just appraised for $193k and generates $2,400 gross monthly rents (duplex).

Google the "state of the city address". Mike Duggan just gave it the other night and I challenge anyone to watch it and not get excited about what's happening in Detroit.

If the investor is looking for properties 6 units and below you can still enter several markets in ohio at that price and the units will be either turn key or close. With decent cash flow. For example 4 unit with 2/1s rents for $850 a unit and building sold for $230k

I reached out to them today calling their 813 area code number (Tampa FL) which sounded like it linked to a remote number and had a brief conversation with Michael. He asked for an appraisal on one of my properties in Florida and seemed ok with taking a second lien position. I asked about costs/rate/terms and he said "6 percent" interest for 5 years.  Their registered domain name is new, registered on January of 2024 and registered for 1 year. https://www.whois.com/whois/mgservicingincorporated.com I've dealt with hard money before with clients so I understand that its not going to be presented as polished as an established lender or bank. I'll keep tabs on this thread to see if someone else has any deeper experience with them before I proceed. 

I would not send them anything! I buy in Dayton so I was curious and looked at their website. Not only are there typos all over it, there's weird terminology that sounds like it was either built overseas or by AI. There's even a statement on one page that says "on the other hand I denounce with righteous indignation men who are so beguiled." I have no idea what that's supposed to mean but no legitimate lender would have a statement like that on their website. Protect your personal information and don't share it. There are plenty of other legitimate lenders available.

Has anybody used or heard of these guys?

I recently came across a company recommended by a friend, but my initial contact, whom I connected with via Facebook, is no longer active, raising some concerns. However, the communication from the corporate office appears to be directly from the owner, Michael, who has proactively engaged with me and my associates through a call to address our questions and concerns. Michael seems legitimate and is preparing to send us a due diligence package. Despite my efforts to find any negative information about this company, I have not seen any so far. Please share your insights if anyone has encountered negative feedback or reasons to avoid doing business with this group. only actual review I found online was just posted on Feb 16th, and looks fake...  https://www.trustpilot.com/review/mgservicingincorporated.co...