Metro Flippers Investments Lender

Richmond, Virginia
Mortgage Brokers & Lenders
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Metro Flippers Investments Lender

Luis Astudillo
Member since 2024 · 23 posts · 8 votes

Hello everyone,I am a mortgage broker. I have been talking to a lender Metro Flippers Investments. They seem to be offering 100% funding and 100% rehab. The interest rate is between 7.95% and 9.95% depending on credit score. They charge $2,500.00 upfront fee once the initial loan agreement has been signed by the borrower. The AE claims that the $2,500.00 will be reimbursed at closing once the loan closes. I have found 2 or 3 reviews for this lender a couple claimed to have closed with them. Below is a promo flyer I received from them; again not enough reviews to move forward confidently with this lender. Has anyone in this forum worked with them or maybe have a loan in the process? Your honest input or feedback will be greatly appreciated. Thanks.

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Account Closed
Member since 2024 · 1 post · 2 votes
2y

They worked really well with me. Laura Young was my funding officer, and I settled the $4000 security deposit in January and received a credit back at closing in the last week of February. The Loan approval was 90% LTC and 100% rehab; you are lucky to be able to take advantage of the 100% financing deal. Maintaining continuous communication and being meticulous in supplying the documentation that their Underwriter requests are essential for a speedy closing with Metro Flippers. They will call you each day, which is usually a good thing because you'll always know how your loan application is doing and they'll make every effort to close by the deadline—barring any unforeseen circumstances.

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  • Account Closed
    Member since 2024 · 1 post · 2 votes
    2y

    They worked really well with me. Laura Young was my funding officer, and I settled the $4000 security deposit in January and received a credit back at closing in the last week of February. The Loan approval was 90% LTC and 100% rehab; you are lucky to be able to take advantage of the 100% financing deal. Maintaining continuous communication and being meticulous in supplying the documentation that their Underwriter requests are essential for a speedy closing with Metro Flippers. They will call you each day, which is usually a good thing because you'll always know how your loan application is doing and they'll make every effort to close by the deadline—barring any unforeseen circumstances.

    2Reply
  • Luis Astudillo
    OP
    Member since 2024 · 23 posts · 8 votes
    2y

    Hey Taylor, 

    Thanks for the reply. As I mentioned in my original post; I am a mortgage broker and I am very careful to present a lender to my potential borrowers as I don't want them to get scammed. I very seldom seek broker lender's loan programs as I know there are many "wanna be" lenders out in social media, so I go to other reliable websites, I look for reviews and if I don't find any reviews then I just move on. Thanks for the reply; hopefully I get more replies for this post. Thanks. 

    0Reply
  • Account Closed
    Member since 2024 · 1 post · 1 vote
    2y

    I’ll be earning my first real estate business belt in a short while. They provided me with a great opportunity to begin my first Fix and Flip. After a screening to determine my official eligibility, I was asked how much I needed. I indicated I wanted to start with$200k and Ms. Brooks offered $400k because real estate in Solano County, California is expensive and my credit score was up seven points. Next week is my closing, and I also paid the security deposit, which I don’t mind. Metro Flippers caught my eye on Facebook.

    1Reply
  • Sophia Buesing
    Lender · Denver · Member since 2023 · 127 posts · 26 votes
    2y

    That seems way to good to be true. I would be cautious. Would love to connect and see if we can help! 

    0Reply
  • Jared RineBusiness Member
    Lender · Sacramento, CA · Member since 2009 · 1k+ posts · 277 votes
    2y

    @Luis Astudillo..mortgage broker to mortgage broker, I'd say don't offer this. I don't know how long you've been in the industry, but if it sounds too good to be true, it usually is, especially when there is so much scam stuff happening in the hard/private money side of things still. Common sense would say that's also super cheap money right now. Why would anyone do that? There are real lenders offering 100% of Cost but it's restrained by experience + % of ARV. And it's def not starting at 7.95%...My $0.02 is stay away from this.

    Jared Rine United Lending Partners53 Reviews
    View Page
    0Reply
  • Luis Astudillo
    OP
    Member since 2024 · 23 posts · 8 votes
    2y
    Quote from @Sophia Buesing:

    That seems way to good to be true. I would be cautious. Would love to connect and see if we can help! 


    Hello Sophia, Thanks for your reply. I am being cautious and I am thinking of just moving on. Are you a mortgage broker too? Here is my email LuisAstudillo0210@gmail. I am a licensed NMLS Loan Officer but with fix and flip, new construction DSCR I go outside my company's NonQm lenders too many overlays. The true hard money lenders are gone

    1Reply
  • Luis Astudillo
    OP
    Member since 2024 · 23 posts · 8 votes
    2y
    Quote from @Jared Rine:

    @Luis Astudillo..mortgage broker to mortgage broker, I'd say don't offer this. I don't know how long you've been in the industry, but if it sounds too good to be true, it usually is, especially when there is so much scam stuff happening in the hard/private money side of things still. Common sense would say that's also super cheap money right now. Why would anyone do that? There are real lenders offering 100% of Cost but it's restrained by experience + % of ARV. And it's def not starting at 7.95%...My $0.02 is stay away from this.


     Hey Jared, 

    Thanks for the reply. To answer your question I have been in the industry since 2003. I have worked with hard money lenders and private money lenders since 2011, back then if a borrower had 30% to 40% for downpayment that was all that was needed; interest rates were in 14s interest rate. I remember doing DSCR loans in 2018 "true DSCR loans". Nowadays, there are a bunch of lenders that claim to be NonQM lenders but so many restrictions. This past few months I have been working with realtors who have borrowers that are ITIN status and looking to begin doing fix and flip, fix and hold; my company has NonQM lender that will work with ITIN borrowers for owner-occupied and DSCR loans but they also have so many restrictions. Going back to your suggestion, I am moving on from the lender I posted about, if you see the first two replies; where the user's name goes in the upper left corner says that "account closed" The borrowers I have can put up 30% down and rehab property as most of them are in the "remodeling business. Would like to see what programs you have here is my email [email protected]. Thanks for the advice.

    1Reply
  • Sophia Buesing
    Lender · Denver · Member since 2023 · 127 posts · 26 votes
    2y
    Quote from @Luis Astudillo:
    Quote from @Sophia Buesing:

    That seems way to good to be true. I would be cautious. Would love to connect and see if we can help! 


    Hello Sophia, Thanks for your reply. I am being cautious and I am thinking of just moving on. Are you a mortgage broker too? Here is my email LuisAstudillo0210@gmail. I am a licensed NMLS Loan Officer but with fix and flip, new construction DSCR I go outside my company's NonQm lenders too many overlays. The true hard money lenders are gone


     I just send you a email. No we are a direct hard money lender. 

    0Reply
  • Teena Louise Jackson
    Member since 2024 · 1 post · 0 votes
    2y
    Quote from @Sophia Buesing:

    That seems way to good to be true. I would be cautious. Would love to connect and see if we can help! 

     Can you email me.

    0Reply
  • Mike Klarman
    Specialist · NJ · Member since 2022 · 1k+ posts · 653 votes
    2y

    Interest rate is way too low for a 100% program and I do not like 2500 upfront that gets "reimbursed".  I work with all the big box lenders and I have worked with a private hedge fund and I have worked with smaller, local HM outfits and NONE OF THEM had anything like that.

    Because if the deal falls apart I am guessing they keep your 2500.

    0Reply
  • Luis Astudillo
    OP
    Member since 2024 · 23 posts · 8 votes
    2y
    Quote from @Mike Klarman:

    Interest rate is way too low for a 100% program and I do not like 2500 upfront that gets "reimbursed".  I work with all the big box lenders and I have worked with a private hedge fund and I have worked with smaller, local HM outfits and NONE OF THEM had anything like that.

    Because if the deal falls apart I am guessing they keep your 2500.


     Hey Mike, thanks for the reply. I, totally agree with the interest rate being too low for 100% financing; especially for a newbie. I don't mind the upfront fee so much but the fact that there are no reviews on this lender so I have moved on. 

    0Reply
  • Mike Klarman
    Specialist · NJ · Member since 2022 · 1k+ posts · 653 votes
    2y

    Smart.

    0Reply
  • Simmy AhluwaliaPro Member
    Lender · Atlanta, GA · Member since 2015 · 1k+ posts · 200 votes
    2y

    Never, Ever, Ever pay any upfront fees, unless it is a 3rd party fee for an Appraisal.  

    0Reply
  • Salvador Auciello
    Lender · Irvine CA · Member since 2019 · 71 posts · 22 votes
    2y

    That was a scam from afar. And the review from the person claiming to be a BP member closed. 

    There are wholesale lenders that work with ITIN do true DSCR and No DSCR loans.

    I agree some lenders do have a to many restrictions. I can recommend options for you. 

    0Reply
  • Erik EstradaBusiness Member
    Lender · Member since 2022 · 6k+ posts · 1k+ votes
    2y

    I would not offer this to your clients. 

    You can realistically expect 90% LTV/100% Rehab for an experienced flipper from a reputable source.

    100% LTV exists if there is a cross collateral scenario. 65% CLTV max. But you will need to get this from true private money sources, not really advertised online.

    [email protected]818-269-7983
    LuxePrivate Investments LLC 572 Reviews
    WebsiteView Page
    0Reply
  • Luis Astudillo
    OP
    Member since 2024 · 23 posts · 8 votes
    2y

    Hello Erik, 

    I have moved on from this lender. Whenever I talk to a new lender, I usually research the lender's website, look for the most recent reviews, and look for feedback from forums such as Biggerockets. I no longer go to Facebook to get feedback not a reliable place to get advice much less look for a lender. As I mentioned before, I am a licensed mortgage broker. The borrowers that I am working with are first time fin and flippers or first time getting a DSCR loan, some of them have ITIN status, work permit, and US citizens. In my company, I have access to lenders that will do a mortgage loan for an owner occupied and DSCR for borrowers with ITIN status and work permit but not for fix and flip.

    1Reply
  • Luis Astudillo
    OP
    Member since 2024 · 23 posts · 8 votes
    2y
    Quote from @Salvador Auciello:

    That was a scam from afar. And the review from the person claiming to be a BP member closed. 

    There are wholesale lenders that work with ITIN do true DSCR and No DSCR loans.

    I agree some lenders do have a to many restrictions. I can recommend options for you. 


    0Reply
  • Luis Astudillo
    OP
    Member since 2024 · 23 posts · 8 votes
    2y
    Quote from @Luis Astudillo:
    Quote from @Salvador Auciello:

    That was a scam from afar. And the review from the person claiming to be a BP member closed. 

    There are wholesale lenders that work with ITIN do true DSCR and No DSCR loans.

    I agree some lenders do have a to many restrictions. I can recommend options for you. 



     I agree with you, I have moved on already. I got your email. 

    0Reply
  • Luis Astudillo
    OP
    Member since 2024 · 23 posts · 8 votes
    2y
    Quote from @Simmy Ahluwalia:

    Never, Ever, Ever pay any upfront fees, unless it is a 3rd party fee for an Appraisal.  


     Hey Simmy, 

    Totally agree. 

    0Reply
  • Robert CarterPro Member
    Rental Property Investor · Ashburn, VA · Member since 2018 · 64 posts · 29 votes
    1y

    Yep definitely a scam. Received an email recently from Jamie Hawkins. Seems to good to be true. Definitely looking for a private money lender but to provide $10k for “due diligence” just to get back at closing. Not sure that makes sense to me. I’ll keep looking. Thanks for opening the dialogue.

    0Reply
  • Account Closed
    Member since 2025 · 1 post · 0 votes
    10mo

    What I observed in this post made me feel curious coz they were great to work with. My funding officer, Laura Young, helped me through the process—I paid the $4,000 Retainer Deposit in September and received a credit for it at closing during the last week of October. The loan approval covered 90% LTC and 100% of the rehab costs, which was a fantastic opportunity to benefit from full financing. To ensure a smooth and quick closing with Metro Flippers, it’s important to stay in constant communication and promptly provide any documents requested by their underwriter. They’ll call you daily, which is actually helpful since it keeps you updated on your loan status and shows their commitment to meeting the closing deadline, as long as no unexpected issues arise.

    0Reply
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