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Forums » Private & Conventional Lending Discussion » Anyone know 1st Quick Funding?

Anyone know 1st Quick Funding? Subscribe to Anyone know 1st Quick Funding?

8 posts by 6 users

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Garrett May

Surveyor · Cleveland, OH


Forum_avatar_avatar-co1987

Icon_minipost Aug 21 '08, 08:54 AM

Has anyone used 1st Quick Funding, a New York-based private (hard money) lender? I am looking for any experiences.

Gary

Edited: 06/26/2010 at 05:44AM


Christine Bosch


Forum_avatar_avatar-christinebosch

Icon_minipost Sep 02 '08, 12:35 AM

Gary,

Did you ever find anything out about these folks? I have been trying to also find info about them. I have a Terms sheet from them (actually the letter head is Quick Funding - based out of NY) and was worried about the large upfront fee they are requesting.
I have found a blog/forum that talks about them a bit if that would help you - the ssite is as follows: http://www.brokeruniverse.com/grapevine/thread/?thread=532851

If for some reason you aren't able to connect google broker universe or Mortgage grapevine to pull these conversations up.

Also, please let me know if you have found out any info on this company.

Edited: 06/26/2010 at 05:49AM


Garrett May

Surveyor · Cleveland, OH


Forum_avatar_avatar-co1987

Icon_minipost Sep 02 '08, 04:17 AM

Hello,

I haven't found anything else about them. So, I would probably leave them alone.

Gary

Edited: 06/26/2010 at 05:49AM


Maureen Helm

Residential Lender · Dunedin, Florida


Forum_avatar_avatar-moemoney

Icon_minipost Oct 08 '08, 07:21 PM

Never Ever.... pay an upfront fee. This is a huge red flag. The only time you will generally have to pay a "Due Diligence" fee is in a large commercial transaction.

Edited: 06/26/2010 at 06:06AM


John Thompson

Real Estate Consultant · Clearwater, Florida


Forum_avatar_avatar-capconsulting

Icon_minipost Oct 15 '08, 02:50 AM

1st Quick has both good and bad comments from brokers. We are a consulting firm that has recent deals in 2008 national and international from 100k to 500mm, Everyone; and I mean everyone with the exception of Silverhill (11%+) is going to charge an up front fee. We get several loans closed every week and it is common practice to pay 2-3k for even a 150k loan. The advantage of using a broker is that they have access to all of the major institutions (Which are all shuttered due to the Resi fallout) but also should have a sophicticated Rolodex and contacts with various Hedge Fund Managers; Real Estate Investment Trust Managers and Private company that will only deal with brokers. Yes the big banks (Wells, Countrywide etc) will not charge a fee generally, but you are not likely to get anything closed with them, at least right now.

Edited: 06/26/2010 at 06:08AM by Administrator


William Simms

Rehabber · Union, New Jersey


Forum_avatar_avatar-simmsfirm

Icon_minipost Mar 22 '10, 09:13 AM

My friend used quick funding and they are a sham. they took his money and strung him along even after giving a commitment. They lied time after time and was not responsive. he ultimately had to file a bankruptcy to stop the sale of his property. Don't use them!!!!

Edited: 06/26/2010 at 12:10PM


William Simms

Rehabber · Union, New Jersey


Forum_avatar_avatar-simmsfirm

Icon_minipost Mar 22 '10, 01:13 PM

My friend used quick funding and they are a sham. they took his money and strung him along even after giving a commitment. They lied time after time and was not responsive. he ultimately had to file a bankruptcy to stop the sale of his property. Don't use them!!!!


Account Closed


Forum_avatar_avatar-jitendrasnv

Icon_minipost Apr 30 '10, 07:25 PM

Hi,I have heard about quick funding as i have inquired there for loan but there are a lot formalities that are needed.

I dint find any thing special to be noticed in quick funding.


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