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Private Lending & Conventional Mortgage Advice

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Kj Rustom
  • Kennesaw, GA
9
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52
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Anyone familier with Seabury Investments?

Kj Rustom
  • Kennesaw, GA
Posted Mar 23 2023, 10:43

I am considering a few loan programs from Seabury Investments and they seem to have decent rates and terms. Wanted to check in with the community if anyone has worked with them before and how did these guys perform?

https://seaburyinvestments.com

TIA!

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357
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245
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Mark Munson
Lender
  • Lender
  • Orlando, FL
245
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357
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Mark Munson
Lender
  • Lender
  • Orlando, FL
Replied Mar 23 2023, 11:20
Quote from @Kj Rustom:

I am considering a few loan programs from Seabury Investments and they seem to have decent rates and terms. Wanted to check in with the community if anyone has worked with them before and how did these guys perform?

https://seaburyinvestments.com

TIA!

Have you received a term sheet from them or are you just basing the "decent" terms off of their website? I ask because there is no way they are offering 6% on Fix and Flip loans. They would be bankrupt doing that and also allowing the borrower to order appraisals is a recipe for a BK.  

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1,443
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1,555
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Michael Dumler
  • Real Estate Agent
  • Atlanta, GA
1,555
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1,443
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Michael Dumler
  • Real Estate Agent
  • Atlanta, GA
Replied Mar 23 2023, 13:16

@Kj Rustom, I agree with Mark, after a glance at their website, their offer rates are not in line with the market whatsoever. That's a bit of a red flag to me. Never heard of these guys either. 

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8
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Yvonne Flores
  • Plainview, TX
3
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8
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Yvonne Flores
  • Plainview, TX
Replied Mar 28 2023, 17:21

Did you ever use them?

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103
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14
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Eugene Neal
  • Lender
14
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103
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Eugene Neal
  • Lender
Replied Mar 31 2023, 07:03

From researching their layouts and potential rates, I would stay away. They are not a direct lender and their last site update was in 2017. That is a reflag as 6 years and no redesign isn't acceptable. What type of loan were you requesting financing about? 

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103
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14
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Eugene Neal
  • Lender
14
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103
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Eugene Neal
  • Lender
Replied Mar 31 2023, 07:03
Quote from @Yvonne Flores:

Did you ever use them?


 From reviewing their site, I wouldn't suggest it. 

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Robin Simon#1 Private Lending & Conventional Mortgage Advice Contributor
  • Lender
  • Austin, TX
3,202
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3,220
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Robin Simon#1 Private Lending & Conventional Mortgage Advice Contributor
  • Lender
  • Austin, TX
Replied Mar 31 2023, 10:02
Quote from @Eugene Neal:
Quote from @Yvonne Flores:

Did you ever use them?


 From reviewing their site, I wouldn't suggest it. 


 Yup - 15 seconds on the website tells you its bad news

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103
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14
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Eugene Neal
  • Lender
14
Votes |
103
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Eugene Neal
  • Lender
Replied Mar 31 2023, 10:32
Quote from @Robin Simon:
Quote from @Eugene Neal:
Quote from @Yvonne Flores:

Did you ever use them?


 From reviewing their site, I wouldn't suggest it. 


 Yup - 15 seconds on the website tells you its bad news


 Anyone that is currently quoting a 6% rate without a full application is oblivious. 

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39,727
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Jay Hinrichs#1 All Forums Contributor
  • Real Estate Broker
  • Lake Oswego OR Summerlin, NV
58,395
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39,727
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Jay Hinrichs#1 All Forums Contributor
  • Real Estate Broker
  • Lake Oswego OR Summerlin, NV
Replied Mar 31 2023, 10:35
Quote from @Mark Munson:
Quote from @Kj Rustom:

I am considering a few loan programs from Seabury Investments and they seem to have decent rates and terms. Wanted to check in with the community if anyone has worked with them before and how did these guys perform?

https://seaburyinvestments.com

TIA!

Have you received a term sheet from them or are you just basing the "decent" terms off of their website? I ask because there is no way they are offering 6% on Fix and Flip loans. They would be bankrupt doing that and also allowing the borrower to order appraisals is a recipe for a BK.  

typical fake lender  pump and dump due diligence up front fee scammer  full stop.  

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8
Posts
3
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Yvonne Flores
  • Plainview, TX
3
Votes |
8
Posts
Yvonne Flores
  • Plainview, TX
Replied Mar 31 2023, 17:12

Thank you! Yes I called them and they had an accent from like Africa. Which told me they aren’t from Austin like their application said. Red flag! 🙅🏻‍♀️

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8
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3
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Yvonne Flores
  • Plainview, TX
3
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8
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Yvonne Flores
  • Plainview, TX
Replied Mar 31 2023, 17:13

No. Their accent gave me wrong vibes.

User Stats

8
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3
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Yvonne Flores
  • Plainview, TX
3
Votes |
8
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Yvonne Flores
  • Plainview, TX
Replied Mar 31 2023, 17:14

No their accent gave me wrong vibes. They didn’t sound like they were from Austin like their application said.

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12
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4
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Alice Chodkowski
Pro Member
  • Investor
  • Charlotte, NC
4
Votes |
12
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Alice Chodkowski
Pro Member
  • Investor
  • Charlotte, NC
Replied Apr 1 2023, 11:52

@Yvonne Flores, my husband got a reply from them asking him to forward 2K to them so they could send him the 50K loan he asked for. After he asked them to deduct their fee from the loan they stopped responding. We could not get them on the phone either. Their rates are way to reasonable and they have a Gmail not a business email. I believe after doing research on them they are a scam.

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8
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3
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Yvonne Flores
  • Plainview, TX
3
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8
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Yvonne Flores
  • Plainview, TX
Replied Apr 3 2023, 08:23

Yes they wanted the same from us. I did speak to “James Wilburn” and he had a bad accent. Didn’t sound like he was local.

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17
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20
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Oscar Padilla
  • New to Real Estate
  • Santa Cruz CA, United States
20
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17
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Oscar Padilla
  • New to Real Estate
  • Santa Cruz CA, United States
Replied Apr 19 2023, 13:25

Im glad I saw this, I was about to reach out to them.