All Forum Posts by: Sochima Eze

@Don Spafford I can concur with this. Emails with them are very vague and nothing like with other lenders. No questions of property address, type, or talk of their lending practice. The testimonials on their page seem bogus as well. Everything is dated from 2014 and one of the coming names (Idea Inc,” indicates its located in Florida but a quick search shows its actually based in California.

I could be wrong, but my gut is telling me scam.

@Ken B. I really appreciate this. This is what this forum is all about.

@Ken B.

I looked at LendingOne’s website but they currently fund 1-4 units. Typically, that would work will for me, but I’m looking for funding on a multi 5+.

I’ll keep LendingOne in mind for future deals.

@Anthony Dadlani thanks for replying, but from what I’ve read, your model isn’t the same as mine. I’m looking for a lender not a project manager.

I'm looking for funding in Maine in order to put together a few deals that fell into my lap. I would like to find someone I could consistently use over the next couple of months to years as well. 

What she said.

Most private lenders were eager and ready to close on deals in under two weeks. Now, I'm not sure they're still in business at all. I'm watching deals come and go because I can't line up financing.  

I’ve been making calls, sending emails, and searching for a good part of the day. My normal lenders have dried up or are waiting to see how things end up. However, I have a couple of duplexes I’m trying to fund in Maine. Long time financing for a buy and hold. Can anyone help me out here or point me in the right direction? Thanks!

@Stephanie P. I’ve got a all with the lender scheduled in an hour or so, but I’m beginning to wonder if I’m simply being pushed in a particular direction here. Given the homes value and it being a simple cash out refi, I don’t understand the issue myself.

@CJ M. I’m looking to pull out 100-150k. Mortgage is right around 135k with an appraisal somewhere near 800k.

I’ll reach out to some smaller banks and see what’s what. I was wondering if anyone had an experience I could glean information from.

I’m in an excellent equity position of one of my rentals and would like to do a cash out refi, but I’m running into trouble with traditional lenders. I understand it’s looked at as risky, not a primary residence and a duplex with renters, but I’m sure there’s a way to make This happen.

Any insight would be appreciated.