Has anybody used "Lending Deck" for Hard money loans? Scam?

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Has anybody used "Lending Deck" for Hard money loans? Scam?

Joseph HandyPro Member
Jackson, MS · Member since 2017 · 5 posts · 2 votes

I recently had a conversation with a representative from the Lending Deck company. I'm just trying to see if anyone has used them before. If so, how was your experience with their service and loan products?

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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
5y
bare bones website  no mention of he staff or principals.. so maybe.. just dont send up front money .

if they hound you for up front money then you have your answer
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  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    5y
    bare bones website  no mention of he staff or principals.. so maybe.. just dont send up front money .

    if they hound you for up front money then you have your answer
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  • Randy Horner
    Real Estate Investor · chester, VA · Member since 2016 · 11 posts · 13 votes
    5y

    Have you gotten your details yet? I'm also chatting with them too.  The only thing they are asking for is $950 for appraisal upfront with my credit card.  They are located in Richmond, I'm 30 mins away.  Think about going to see there office 

    3Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    5y
    Originally posted by @Randy Horner:

    Have you gotten your details yet? I'm also chatting with them too.  The only thing they are asking for is $950 for appraisal upfront with my credit card.  They are located in Richmond, I'm 30 mins away.  Think about going to see there office 

    most lenders do the appraisal and when its done they charge you .. they dont have you send the money up front.. but maybe some do.

    but worse case scenario if they don't fund your only out 950.00 but many do this and also have non refundable EM thinking the deal is going to close and they lose that as well. that's why reputable lenders are very important to keep you from losing 1 to 5k on a fake lender or more  and again I have no clue about this company.. just say in  how the fake lenders operate and what your risks are

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  • Joe S.Pro Member
    Investor · San Antonio · Member since 2020 · 3k+ posts · 3k+ votes
    5y

    @Jay Hinrichs Do you still do hard money loans in Mississippi?

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  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    5y
    Originally posted by @Joe S.:

    @Jay Hinrichs Do you still do hard money loans in Mississippi?

    Very selectively  LOL.  

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  • Susan Maneck
    Investor · Jackson, MS · Member since 2014 · 1k+ posts · 769 votes
    5y

    $950 seems a lot for an appraisal. 

    2Reply
  • Randy Horner
    Real Estate Investor · chester, VA · Member since 2016 · 11 posts · 13 votes
    5y

    @Susan Maneck it's appraisal an loan commitment. I'm gonna stop by there office, just to be 100%. It's only a 20 min drive

    3Reply
  • Joseph HandyPro Member
    OP
    Jackson, MS · Member since 2017 · 5 posts · 2 votes
    5y

    @Randy Horner It would be awesome if you could stop by their office to confirm that it's a legitimate business! One of their representatives called me yesterday to see if I was interested in moving forward with their process. I have to do a little more due diligence before I feel comfortable with sending them any of my personal info. They also said they offer fully amortized long term loans! Seems too good to be true. lol

    1Reply
  • Tammi Bieniek
    Rental Property Investor · Member since 2020 · 24 posts · 13 votes
    5y

    Hello!  I am working with them too. Please post if you stop by their office.  I hope its not a scam.  Thanks!

    1Reply
  • Tammi Bieniek
    Rental Property Investor · Member since 2020 · 24 posts · 13 votes
    5y

    I have been doing some online research on Lending Deck.  It looks like they have only been in business since October 2020.  That looks like a big red flag to me.

    2Reply
  • Tammi Bieniek
    Rental Property Investor · Member since 2020 · 24 posts · 13 votes
    5y

    Hello, Just wanted to post an update. I was able to use Lending Deck to close my cash out refinance. It went very well. I recommend Mark Hudson and his company if you ever need a lending Co. I did have to put my property in a LLC, but overall a very smooth transaction and I hope to work with him in the future if I can find any other properties in this super crazy market!

    3Reply
  • Sean Martin
    Member since 2021 · 39 posts · 29 votes
    5y

    I am currently using a company called Lending Home and I like them a lot so far. Seems like a similar deal. Although, my appraisal was only $560. 

    2Reply
  • Randy Horner
    Real Estate Investor · chester, VA · Member since 2016 · 11 posts · 13 votes
    5y

    @Tammi Bieniek. Yup I used them an it went well!

    3Reply
  • Tammi Bieniek
    Rental Property Investor · Member since 2020 · 24 posts · 13 votes
    5y

    @Sean Martin

    They said the appraisal commitment fee is $950, but I actually paid $775.

    0Reply
  • Account Closed
    Member since 2021 · 1 post · 1 vote
    5y

    I just closed on my first multi family with Lending Deck. I interviewed 8 lenders before settling on them. Andrew Kiblin was simply fantastic! I got a 4.75 rate 30 year fixed on an asset based loan in PCB, Fl. He answered my many questions, explained their products thoroughly, made closing a breeze, and will have a barrage of referrals from me as I am full time in real estate helping investors buy here. Definitely a legit company and fantastic service!

    2Reply
  • Mark Lovejoy
    New to Real Estate · Turner, ME · Member since 2018 · 22 posts · 6 votes
    4y

    I just had a conversation with them, he told me 750 commitment fee and that covers the appraisal, credit check, flood check and LLC standings. I'm thinking of using them so if anyone has anything to add, I would appreciate your experience.

    0Reply
  • Edgar Torres
    Member since 2019 · 2 posts · 1 vote
    3y

    Hey guys how everything went with LendingDeck?

    0Reply
  • Pamela Scott
    Investor · Norfolk, VA · Member since 2023 · 1 post · 0 votes
    3y

    I did a 1-year bridge loan with Lending Deck that they sent to Kiavi. Good experience, transparent. Rate & fees in line with other products out there on the market. I'm getting a quote from them & Kiavi now to refi (BRRRR) out of the bridge loan. FYI - Andrew Kilbin is amazing but has left Lending Deck & is now with Kiavi. Kiavi was formerly Lending Home.

    0Reply
  • Doug Smith
    Lender · Tampa, FL · Member since 2013 · 2k+ posts · 2k+ votes
    3y
    Quote from @Randy Horner:

    Have you gotten your details yet? I'm also chatting with them too.  The only thing they are asking for is $950 for appraisal upfront with my credit card.  They are located in Richmond, I'm 30 mins away.  Think about going to see there office 


    I'll pony up appraisal money directly to a legit AMC like Class Valuation, etc, but I wouldn't give my card to anyone I couldn't verify as legit. Good to know. Thanks for the info

    0Reply
  • Ahmad Moore
    Investor · Mobile, AL · Member since 2016 · 71 posts · 16 votes
    2y
    Quote from @Susan Maneck:

    $950 seems a lot for an appraisal. 


     Absolutely, I was thinking the same thing! Sheesh!

    0Reply
  • Anderson S.Business Member
    Lender · Brooklyn, NY · Member since 2024 · 209 posts · 50 votes
    2y
    Quote from @Joseph Handy:

    I recently had a conversation with a representative from the Lending Deck company. I'm just trying to see if anyone has used them before. If so, how was your experience with their service and loan products?


     How did you find them? Just curious. 

    If things don't work out with them we'd love to help fund your deal.

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