Funding Via Connected Investors CiX Exchange
Has anyone ever used, or know anyone who has secured financing via Connected Investors CiX Exchange?
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Hi All, I responded to another CIX post with this information but wanted to pass it along to you all as well
@Elizabeth Clyde @Andrew Shepard @Tony Marcelle @Jonathan Wei
I was VERY hesitant to call CIX but did so at my husbands
request to look at other financing options. After I entered all of my
information I had the first phone call within 30 seconds from CIVIC
financial services. Another 10 minutes later, I had a call from
Sprout. During my call with Sprout, I had a third caller try to make
contact. Civic and Sprout were pretty easy to talk to, but they asked
very generalized questions. Civic sent me this marketing sheet on their fix/flip program... 7.99% interest, must be paid off within 1 year, will give you 70-75% of ARV... that particular program was pretty interesting. They also had a couple of ARM
options which I wasn't super interested in as a buy/hold investor. I
may consider using their fix/flip program if I could refinance after the
rehab with a local lender.
This is very surface level information...I guess CIX just sends your information to those lenders who are part of their network. Then you pick a lender that best fits your need.
Have you checked in with a
commercial lender vs CIX? I have a local commercial lender who created a
lending package specifically for our needs. We are refinancing 2 of our
current properties and taking out a revolving line of credit. The loan
package is a multi-collateral deal where we can add to our portfolio or
sell properties as needed with out the full refinance costs each time.
If I get anymore info in the next couple of days from CIX, I'll update my post