[mike@ubcfunding.com]

I have a merchant with 3 MCA's pays $475 a day $19K to $24K deposits they own' two properties I got them a collateral deal for $85K from WBL , Im lookinsomeone to do a small advance for $2K, $1,565 will go to cover the upfront fees to WBL they will be funded within 14 to 21 days the $85K @ 1.50 40 days $3K payback and a
( $1K bonus ) Its a short term good deal !

[Jamesf]

WBL takes a fee upfront?
Why isn’t that included simply as an origination fee like everywhere else?
If they qualify for a hard money loan may as well go elsewhere and no need for the 2k.
Not necessarily pointed at you OP just commentary.

[Sachip24]

merchant is using his collateral for one hard money advance and needs another advance to pay the upfront fees for the first advance?

[Jamesf]

merchant is using his collateral for one hard money advance and needs another advance to pay the upfront fees for the first advance?

Exactly I’ve never heard o upfront fees from a real lender that’s kinda absurd I thought.
No hard money lender I’ve dealt (only a few admittedly) with ever asked for any upfront fees it’s all done in closing.

[Sachip24]

Exactly I’ve never heard o upfront fees from a real lender that’s kinda absurd I thought.
No hard money lender I’ve dealt (only a few admittedly) with ever asked for any upfront fees it’s all done in closing.

WBL does charge upfront half of their fee (for title and due diligence) then the bigger portion of the fee is collected from proceeds. But if deal doesn't close for whatever reason they do not refund the upfront fee.

[omegafund]

Lots of hard money guys ask for fees upfront though I would not consider WBL a true real estate lender.

Location and type of properties?

[Jamesf]

WBL does charge upfront half of their fee (for title and due diligence) then the bigger portion of the fee is collected from proceeds. But if deal doesn't close for whatever reason they do not refund the upfront fee.

Ok that makes more sense. Prior like I said only a few I had the merchant was responsible for title etc on their own.

[golf2014]

Its obvious they dont refund the appraisal...
.its done by 3rd party.

[SFllc]

I have a merchant with 3 MCA's pays $475 a day $19K to $24K deposits they own' two properties I got them a collateral deal for $85K from WBL , Im lookinsomeone to do a small advance for $2K, $1,565 will go to cover the upfront fees to WBL they will be funded within 14 to 21 days the $85K @ 1.50 40 days $3K payback and a
( $1K bonus ) Its a short term good deal !

85K 1.50 40 days with upfront costs, secured by two properties???? How would someone consider that a good deal??

[WestCoastFunding]

85K 1.50 40 days with upfront costs, secured by two properties???? How would someone consider that a good deal??

Lmao. It’s basically Nanoflex secured by real estate.