All Forum Posts by: Ryan J Bondy

We certainly appreciate the feedback we've received, and the expressed interest from those of you that may assist us in other finance options. Direct's perceived advantage is in their LTV % and expressed interest rate. Because these two elements are so strong, we were hopeful someone else that had invested with them before, would be able to provide a reference. Frankly, being new to BP's ourselves, it's a little bothersome that no one else has any experience to offer us, positive or negative.

Research proves that they exist, that's not even questionable, but do they do what they say they are going to?  Our current concern is that we pay the application fee but never close the loan. 

Hello, I'm in the process of securing property in the U.S. as a Canadian investor.  A private lender named Direct Commercial Funding Inc. has presented us with favorable loan terms, however, they include a substantial upfront fee.  While the loan is promising, the fees being paid prior to funding is a huge concern.  Before committing, I'm very much hopeful that someone else out there has used DCF and can provide insight as to what we can expect in terms of probability of actually closing the loan.

Last thing we need is to pay the money, eat up the time, then not get funds advanced, only to lose the money, lose the funding, and lose the deal.

Anyone familiar with this company?

Please advise.

With great thanks,

RB

We are purchasing a multi-family apartment complex. To my understanding the "application fee" gets the underwriting process started, along with the due diligence, and I am to be provided both an appraisal and an inspection report. Are there other 3rd party reports that should be obtained during that time (title insurance for example)?

What would those documents truthfully be worth if contracted directly, $5 - $10k?

 Thank you in advanc,

We are currently seeking to do a deal with financing provide by Direct Commercial Funding Inc. from Houston, TX.  To ensure they are not a scam operation that just capitalizes on upfront fees and doesn't provide funding, we are seeking references. 

Please advise if you have any experience, good or otherwise, with this company. 

Thank you in advance. 

Ryan & Megan. 

My wife and I started buying real estate in Ontario 15 years ago.  In 2009 we purchased our first property in the United States.  Today we have rental property on both sides of the border and look forward to years of investing and growing with our family.

In September 2015 we welcomed our 3rd child into the family in 2.5 years.  We are actively seeking the financial freedom to raise our children vs. leaving them in the hands of daycare providers.  As a Chartered Accountant, my wife left her career to work in the family businesses that we've created.  We own Property Management, Property Maintenance, Building Maintenance and Commercial Cleaning companies.  Additionally, we own other businesses in the local marketplace.  Collectively, they consume us.  We know real estate is the way out and we are seeking assistance in putting together a deal to acquire, improve and hold, a 30-50 unit multi-family somewhere that doesn't get covered in white for months at a time each year.