BiggerPockets

I am looking for a reliable rep from Brookview Financial. My first experience with them is horrible.

They qualified the buyer and open a line of credit. We paid 1.25% up front to open the line for 2 years. We gave the property and escrow information to my rep, Michael Troiano, then, nothing happened.

I assumed everything is in good hands. He seemed like a great man. The communication stopped after we paid for the up front fee to open the line of credit. My agent and I contacted him numerous times during the escrow period. Only one returned call I got from him saying "everything is going well", then I didn't get an email or call back till my contract expired 3 weeks later. In fact, he didn't even order an appraisal. During this period they try to have my realtor trying to sell me Brookview Financial's REO.

I was told Brookview does this strategically to move their REO inventory (this was from an internal source.) They'll credit back the deposit money you loss from the expired contract if you purchase their REO. They did this the similar situation with other investors. This was hard to believe, because they seem reputable.

Anyway, I am just sharing my experience with other investors. Also would like to know if anyone can give me a referral of a good loan rep from Brookview that I can work with. I will demand Brookview to change my rep.

BTW, the hard money lending is needed for properties in Metro Atlanta area. Of course, any referral on good hard money lenders or banks will be appreciated!

Thanks All!

Denise

I'll have to disagree with the earlier post and add my 2 cents. I've been a borrower of Brookview for the last 2 and 1/2 years and Michael Troiano is my account rep. He has been nothing bur responsive and helpful. I've done 1 deal the 1st year and 3 deals the 2nd and made a handsome return on my investment... how? by listening to Michael.
The first few deals were delayed/turned down and I was almost as pissed as you Denise. But after more in depth conversations with Michael, he made me realize that I would have made MAJOR mistakes if I went with what I thought was right. They actually have a whole internal staff that will do their due diligence on the deal (unlike the few remaining hard lenders out there). They saved me more than once in getting myself stuck in a deal with no/little profit (or simply a crappy deal) that was pushed to me by my broker.
At the end of the day, my broker wanted a quick commission check and didn't care if it made sense to me. Well Michael (ultimately protected Brookview's money) but also protected me... and I do appreciate that.
I just happened to talk to Michael today for a new deal I'm working on, and he wasn't quite happy about this post. I asked him why don't you reply and he said 'naah, I'll just call some of my clients and tell them to post what they think' so here I am reaffirming that I will not change him for anything and won't be surprised if other people sign up to this site just to add their thoughts/feedback. I'll be interested to see how many people agree with Denise or myself...
Last but not least, what also confused me is that you introduce yourself as an investor (from your profile), but then say you're not the buyer (in your post), so what's your interest in that deal? are you the broker?

Thanks for the posting. It is not about a deal that is being 'denied'. It is being misled that 'everything is going well' through out the escrow.

Deals being denied by lenders all the time. It is actually a good thing that they are screening the properties for you. Also, there are way too many deals out there not to care about these bad properties.

I am not expecting just have one deal going on at a time but multiply properties with deposits that can add up to be a large amount of potential loss. This is the reason I am looking for someone at Brookview to rely on.

I was really puzzle of this experience as well. It is almost hard to believe. BTW, how much commission would I make if this deal pushes through? $0.

Denise,

I have worked with Brookview Financial and Mike for over two years and I have to say from a Broker/Banker perspective you might be a bit off. I have attended there Rehab retreats and have referred over 100 clients to Brookview which all have active accounts presently with out any issues. Lets be honest guidelines have changed in all lending markets and Brookview has stayed up and addressed them in a professional way including Mike T. I would suggest since you are in the business and I assume your plans are to stay in it. I would keep a solid relationship with Brookview because most residental hard money lenders have fallen and are not getting back up for a couple years.
Regards,

Joseph V. Scorese
REIA OF NYC CORDINATOR
MAC Investment Company, LLC.

Main Office - 484-221-9277

Direct - 610-351-9927

Fax - 610-351-0903
www.reiaofnyc.com

Hey all,

This posting is meant to find a good rep within Brookview. That's just stay focus.
I heard of some great things about Brookview Financials, and this is the reason I would want to work with them instead of Rehabfunding.com. I would appreciate reply to my question in my post and provide the name of a good rep within the company.

I totally understand the guideline change and property valuation is all over the board, and again, this is the reason I need a reliable rep to screen out bad ones and told me straight up if funding is possible or not.

This post is not mean to attack anyone. Forums are meant to share good and bad experiences. Maybe I was being inconsiderate on mentioning Mike T's name. Maybe the rumor about Brookview trying to sell their own REO is not true, but everything else was my own true experience.

Ann, your experience is what I consider normal. I would totally appreciate an appraisal done and notification in denied funding during escrow period. My experience was no return phone calls, no reply emails to me or my realtor (my realtor referred me to him.)

I was contacted by Mike T about this post last week. I told him he can call me anytime to resolve this.

Most of you join BP the last few days, I am sure you are contacts from Mike T's. I'm sure there will be continues replies of such. But the purpose of this post is looking for someone within Brookview.

I would love to work with Brookview & I also have immediate contacts who are looking for over 20+ properties immediately that I can refer the business to Brookview.

Anyway, this will be my last reply to this post. It is such waste of time on a tiny issue.

Best of luck!

Denise

I don't know anything about Brookview or Michael Troiano, but it seems odd all these people who are taking up for this company only have one post and registered the same day they posted.. Maybe I'm just too cautious though...