Investor · Minnesota & Kansas · Member since 2020 · 176 posts · 75 votes
Hey guys,
Has anyone used Finance of America Commercial LLC-it seems that they are very slow to be able to close and communication has been close to non existent. We have some investor in MN who mentioned to run away from them as fast as possible. I wanted to see if anyone had a better experience with that particular lender.
@Arsen Atanasovski did you have good experience? Assuming once the closing takes place there wouldn’t be much going on other than making payments in the debt but from what I heard it’s their prolong closing time and the fees that investors hate the most.
You gonna have the fees, nothing is for free, but for timing Alex was just fine I think we refinanced in 3 weeks after rehab was completed, fees were 2 points. But it always changes and it’s always different for every deal
Very recent roughly 2 months ago or so, @Alex Bekeza was fast and replied to every email I ever sent got the whole team involved, clearly you or your boy has probably dealt with someone else or some other company, I closed at my local Starbucks and the whole process was straight forward. I have a few deals in the pipeline and send them to @Alex Bekeza he actually reminds me of the deals a few days later since I have a few always in the pipeline I tend to go off track so he is on the ball even with my deals which should be my responsibility.