[Karen37a]

Has anyone had any direct experience with any of these fix and flip Loan companies listed?.

I was referred to Velocity but never used them.

http://www.scotsmanguide.com/Residen...rs/Fix-N-Flip/

I have to contact a few Lenders I know to get a more accurate reflection of the mood of the markets and Lenders .

[WestCoastFunding]

Has anyone had any direct experience with any of these fix and flip Loan companies listed?.

I was referred to Velocity but never used them.

http://www.scotsmanguide.com/Residen...rs/Fix-N-Flip/

I have to contact a few Lenders I know to get a more accurate reflection of the mood of the markets and Lenders .

Contact velocity: cjenkins@velocitymortgage.com

[Karen37a]

Contact velocity: cjenkins@velocitymortgage.com

Thanks ....Did you use them, they seem nice

[abfunders]

Velocity is a stip-crazy (handwritten note that the cash-out is for business purposes?!?!), and they don't do Fix & Flip loans.
I just secured a million dollar LOC for a fix & flip investor at 8% and 3.5 points. Working on a second one, as well.

[Karen37a]

Velocity is a stip-crazy (handwritten note that the cash-out is for business purposes?!?!), and they don't do Fix & Flip loans.
I just secured a million dollar LOC for a fix & flip investor at 8% and 3.5 points. Working on a second one, as well.

Yes I thought they were more of a buy and hold company

Ill contact rcn....they use to have the brokers protected

...i hate doing these with the stip crazy crap

[Jstarr]

OH please, Go Away - your wasting everyones time.. nobody is interested .

[Richard Gomez]

@ jstarr: being a jerk to another person I see. I reached out to you two weeks ago & I said siyonara on the phone but your attitude is worse than what I thought. Big deal that Karen is asking a question to Abfunders, which is a class act. You have been doing hard money for 18 years correct! You never asked questions starting off the block? It's silly that you want to talk smack about me regarding hard money when I told you my first HM deal was in 11.17 for 275k, every month it has been double the amount till now, something light. She is an ex-Stockbroker from Queens, NYC like myself. Karen could be a bit wacky but she is on point when talking about the business. bottomline. Wish you the best jstarr, haha.

[williamvf]

Are you a business owner? Real Estate investor?
Perhaps you need funds for your personal needs.
Worry no more, we have got you covered.
Our loan programs ranges from Real Estate Investment loans
including long term and short term loans for fix and flip projects,
buy and hold, commercial properties etc.
Our Business loan program is design to help start-ups,
grow your business, expand and asset purchases.
Need a Personal loan? Feel free to contact us.
Our rates are unbeatable, friendly, and processes are very swift and
time sensitive!
E-mail: enetfinancialserviceinc7@gmail.com
contact@e-netfinancialservice.com
website: www.e-netfinancialservice.com

[J.Celifarco]

I am in the process of doing a fix and flip now. The amount of paperwork they need to get them done is crazy and the commission is low but once you get it done and get in if the person is someone who flips multiple houses a year it is a a program you can make a lot of money on over the life of the deal. Definitely not an easy deal to complete though.

If anyone can give me info on Velocity I dont know them and would like to learn more

[Karen37a]

I am in the process of doing a fix and flip now. The amount of paperwork they need to get them done is crazy and the commission is low but once you get it done and get in if the person is someone who flips multiple houses a year it is a a program you can make a lot of money on over the life of the deal. Definitely not an easy deal to complete though.

If anyone can give me info on Velocity I dont know them and would like to learn more

http://www.scotsmanguide.com/Residen...rs/Fix-N-Flip/


Follow the link They are on the bottom...also RCN is good

I knew the answer to the fix and flip as I did loans for 15 years...was just seeing if anyone knew others I may not know...new players, new money

** i never did a deal with velocity...I just heard of them, seeing if anyone had a bad experience( which I doubt)

[Karen37a]

http://www.scotsmanguide.com/Commerc.../Bridge-Loans/


I have others but they are my private "stash"...follow the trails you will find them all ...ask the brokers/lenders "who do you know that may like this " ...if they dont want the deal

[nrh1lp]

I am in the process of doing a fix and flip now. The amount of paperwork they need to get them done is crazy and the commission is low but once you get it done and get in if the person is someone who flips multiple houses a year it is a a program you can make a lot of money on over the life of the deal. Definitely not an easy deal to complete though.

If anyone can give me info on Velocity I dont know them and would like to learn more

I have funded with them before, what do you want to know?

[PopCrumbs]

I have funded with them before, what do you want to know?

Not to jack the thread but we do fix and flip leads as well as MCA leads and a few other categories, and always looking for more areas to break in to. mike@popcrumbs.com

[WestCoastFunding]

I am in the process of doing a fix and flip now. The amount of paperwork they need to get them done is crazy and the commission is low but once you get it done and get in if the person is someone who flips multiple houses a year it is a a program you can make a lot of money on over the life of the deal. Definitely not an easy deal to complete though.

If anyone can give me info on Velocity I dont know them and would like to learn more

Velocity will finance the purchase of a fix and flip, but not the renovation. If commissions are low, charge a couple of points using a referral fee agreement.

[SBF]

https://wholesale.foacommercial.com/

I have a client that worked through this group (Finance of America) and now have an LOC to pull from to cover purchase and renovation costs. They also do one off deals.

[SBuchholz]

If anyone has any questions on Velocity, let me know. Yes, we are more of 'buy' & 'hold' collateral based, no income/stated income lender, as we have our Quick Fix that is a bridge loan, that allows a purchase LTV of 75% with no credit score minimum, it is a 1 year interest only loan, it works for 1st time investors (borrower must own their primary residence,) and there is no credit score minimum (keep in mind having mortgage lates- discredits anyone looking for a mortgage.) If you have any questions give me a call at 215-619-2543 or email me Scott at sbuchholz@velocitymortgage.com . We also have a promotion this month for March, any deal submitted before March 31st, we'll pay a 1 point override when it closes, this works for purchase and refi's.

[RichardGerard]

I would suggest RCN to the bloggers here for Fix and Flip projects (RCN stands for Rehab Cash Now). Velocity is a solid outfit-among the few Stated Income Lenders out there with competitive pricing- based on location, guarantors FICO, appraised value etc..

[Karen37a]

If anyone has any questions on Velocity, let me know. Yes, we are more of 'buy' & 'hold' collateral based, no income/stated income lender, as we have our Quick Fix that is a bridge loan, that allows a purchase LTV of 75% with no credit score minimum, it is a 1 year interest only loan, it works for 1st time investors (borrower must own their primary residence,) and there is no credit score minimum (keep in mind having mortgage lates- discredits anyone looking for a mortgage.) If you have any questions give me a call at 215-619-2543 or email me Scott at sbuchholz@velocitymortgage.com . We also have a promotion this month for March, any deal submitted before March 31st, we'll pay a 1 point override when it closes, this works for purchase and refi's.

Thanks . I will email you.

You mean mortgage lates for 2 years I hope not 7?

[Karen37a]

*** as an added note.

The paperwork drama is something I try to avoid at all costs. ( and you cant avoid it) This is why its good for some to go to someone like ab or Richard( for certain deals) and you move on down the line to get another deal.

Same with cash advances


** I take my own deals in and my team but could never handle 1000 brokers funneling me deals at this point. Especially when I am focused on mca.

[SBuchholz]

Thanks . I will email you.

You mean mortgage lates for 2 years I hope not 7?

Thanks Karen, our look back period for mortgage lates is 2 years.

[omegafund]

Working loan with velocity. They are slower than other lenders used in the past , stips are not crazy , downside is terms like PPP and rates are not great many private investors match them on rates. They have some slow underwriters. Hopefully will get it done with them

[abfunders]

Omega, I sent you an email

[Karen37a]

Thanks Karen, our look back period for mortgage lates is 2 years.

ok you scared me lol

[PopCrumbs]

These guys claim to do 100% LTV

http://www.aesgcapital.com/commercial-real-estate.html

[williamvf]

Are you a business owner? Real Estate investor?
Perhaps you need funds for your personal needs.
Worry no more, we have got you covered.
Our loan programs ranges from Real Estate Investment loans
including long term and short term loans for fix and flip projects,
buy and hold, commercial properties etc.
Our Business loan program is design to help start-ups,
grow your business, expand and asset purchases.
Need a Personal loan? Feel free to contact us.
Our rates are unbeatable, friendly, and processes are very swift and
time sensitive!
E-mail: enetfinancialserviceinc7@gmail.com
contact@e-netfinancialservice.com
website: www.e-netfinancialservice.com