Private Lender Due Diligence: Has Anyone Done Business with SilverSky Capital Fund?

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Private Lender Due Diligence: Has Anyone Done Business with SilverSky Capital Fund?

Nick BelskyBusiness Member
Lender · Orlando, FL · Member since 2021 · 1k+ posts · 704 votes

Hey BPC!

Doing some due diligence on a private lender based in Lubbock, TX.  I've got quite a bit on them, but am looking for anyone who may have actually closed and funded a loan with them.  Client or Broker.

Please let me know if you, or if you know anything about them.

Much appreciated.

Cheers!

[email protected]
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Kris Morgan
Member since 2023 · 1 post · 3 votes
3y

Jerry Yang, CEO of SilverSky Capital issued my company a term sheet in July 2023 with a sept 1 close date. Great terms and represented as a balance sheet loan. 
Jerry Yang told us he would be wiring funds into escrow on the first…. That did not happen. 
He then disappeared. 
Rodolfo Velez was brought into the communications where he let us know that funds were NOT on their balance sheet and Jerry would be securing an “investor partners” funds

long story short we’re in mid October. Very little if any communication from Jerry or Rodolfo. Three times we were told a wire is being sent to escrow in the coming days. Three times that never happened.  

SilverSky Capital is a non performing entity that is led by a man willing to lie, mislead and ignore clients who have been issued term sheets and have made deposits in good faith. 


stay as far away from SilverSky capital as you can. Below I have some screenshots from Jerry Yang and Rodolfo Velez making false representations. These guys shouldn’t be in business. 

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  • Erin Deann Martin
    Rental Property Investor · Austin, TX · Member since 2014 · 34 posts · 45 votes
    3y

    No personal experience but I'm flagging @Jordan Sutherland in case he's interacted with them (or had clients who have). 

    If you do use them, please report back on your experience. 

    1Reply
  • Doug SmithPro Member
    Lender · Tampa, FL · Member since 2013 · 2k+ posts · 2k+ votes
    3y

    We're a national private lender, but I've never heard of them. hey are likely smaller, but that's not necessarily a bad thing. 

    0Reply
  • Account Closed
    Rental Property Investor · 1000 Forest Park Blvd Ste 300 Fort Worth, TX 76110 · Member since 2023 · 2 posts · 0 votes
    3y

    Hi Doug,

    I'm a new investor currently looking for the best rate out there, kindly send me a tear sheet at cindysm127[]gmail.com

    Since I'm in TX I'll check them out.

    0Reply
  • Account Closed
    Investor · Member since 2023 · 2 posts · 0 votes
    3y

    I'm a new investor. I'll would love to try them out. Do they have a website?

    0Reply
  • Chris SeveneyBusiness Member
    Moderator
    Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
    3y

    @Nick Belsky

    Looks like they have been around a while - do a google search on them for see if any lawsuits.

    If they go to conferences they probably are not into anything bad -

    one sign I learned was especially gurus etc are all over social media and don’t go to conferences - there is a reason why.

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  • Account Closed
    Rental Property Investor · 1000 Forest Park Blvd Ste 300 Fort Worth, TX 76110 · Member since 2023 · 2 posts · 0 votes
    3y

    I'd check them out and they've got competitive terms.

    0Reply
  • Account Closed
    Investor · Member since 2023 · 2 posts · 0 votes
    3y

    Mine is soon to close. Waiting on appraisal report this week.

    0Reply
  • Nick BelskyBusiness Member
    OP
    Lender · Orlando, FL · Member since 2021 · 1k+ posts · 704 votes
    3y

    HHmm... All the "Account Closed" comments makes it even more suspicious.  Lol.  Long story short, still haven't found any solid info on them.  I have made contact with another employee who has tried to help answer questions and such, but still very poor responses and customer service.  Both employees I've had contact with have promised to provide certain info such as client or brokers references whom they've recently closed with, establish where and how they get their capital, provide title commitments or HUDs for loans they've closed, etc... They just keep disappearing.

    I think I have my answers.

    Cheers!

    [email protected]
    Belsky Mortgage, LLC522 Reviews
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    1Reply
  • Rodolfo Velez
    Member since 2023 · 1 post · 2 votes
    3y

    The @Nick Smear Campaign

    Hello BPC,

    First off, I'm Rodolfo Velez, AVP Operations with SilverSky Capital. Nick Belsky happens to be a broker seeking funding with SilverSky and made the very first contact with Guatam Shah a Senior Loan Officer at SilverSky on May 10,2023. They got on talking and Nick sent his first deal on May 18 but not yet a registered broker with SilverSky (We do have a broker program to enroll brokers before we ever fund their deals).

    Our investor's on the deal doing due diligence had concerns with both the sponsors and the deal which were communicated with Nick then again he reached out to me (Rodolfo) on June 7 and I knew nothing about it, but quickly reached out to Shah who confirmed the deal was off the table and Nick was told the deal is not a good fit.

    Nick requested for references which I did provide, I guess he was possibly looking at the wrong website (silverskycapital.com) hence he couldn't find any reference of our closed deals.

    We did receive client's complaints about Nick's negative propaganda on BP and I had to respond to his claims by signing up on BP but while I'm glad to become a new member

    of the BPC, I can only hope not to get banned like everyone else whose account got closed in this thread without a known reason, not to mention our FL client, John Stolarenko whose been a member of BPC for over 2 years, but responded and got his account deactivated, he's did reach out to find out what was going on and if this is what paying $500 for an annual premium membership on BP is about, then I don't think I want to be part, especially being used as a platform to bully private lenders and investors who declined to fund loan request is preposterous.

    This only reminds me how Trump got kicked off of Twitter in 2021. And In the words of Elon Musk "Free speech lies at the core of democratic values, allowing individuals to

    express their opinions and engage in open discussions."

    2Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    3y
    Quote from @Rodolfo Velez:

    The @Nick Smear Campaign

    Hello BPC,

    First off, I'm Rodolfo Velez, AVP Operations with SilverSky Capital. Nick Belsky happens to be a broker seeking funding with SilverSky and made the very first contact with Guatam Shah a Senior Loan Officer at SilverSky on May 10,2023. They got on talking and Nick sent his first deal on May 18 but not yet a registered broker with SilverSky (We do have a broker program to enroll brokers before we ever fund their deals).

    Our investor's on the deal doing due diligence had concerns with both the sponsors and the deal which were communicated with Nick then again he reached out to me (Rodolfo) on June 7 and I knew nothing about it, but quickly reached out to Shah who confirmed the deal was off the table and Nick was told the deal is not a good fit.

    Nick requested for references which I did provide, I guess he was possibly looking at the wrong website (silverskycapital.com) hence he couldn't find any reference of our closed deals.

    We did receive client's complaints about Nick's negative propaganda on BP and I had to respond to his claims by signing up on BP but while I'm glad to become a new member

    of the BPC, I can only hope not to get banned like everyone else whose account got closed in this thread without a known reason, not to mention our FL client, John Stolarenko whose been a member of BPC for over 2 years, but responded and got his account deactivated, he's did reach out to find out what was going on and if this is what paying $500 for an annual premium membership on BP is about, then I don't think I want to be part, especially being used as a platform to bully private lenders and investors who declined to fund loan request is preposterous.

    This only reminds me how Trump got kicked off of Twitter in 2021. And In the words of Elon Musk "Free speech lies at the core of democratic values, allowing individuals to

    express their opinions and engage in open discussions."


    Well I hope this does not turn you a way from BP you can be a free member .. the issue that comes up and as you probably know the private lender / HML industry is full of frauds and scammers.. There does not a day go by when some rookie investors ask about a HML/ private lender and if 5% interest only easy qualify is real or said lender advertising that is real. All they have to do is send 1k commitment fee to the lender in Target gift cards :).. thats why HML / Private lenders that no one has heard of on BP get kind of a rough time at the start. Also if a lender has a website and is in the business of making real estate loans.. they are a HML not a private lender as defined by most of the folks on Bp to BP members private lender means a person like your rich uncle who just does a few deals for select few but is not in the business the rest of US we are HML not private lenders. So thats the other issue you will have on BP..

    and to be fair to you the person posting did not state they were looking for a Broker / Lender relationship they made it sound like they were the borrower when in fact it looks like they were not. coming to BP as a broker to ask about a potential lender is not really going to get anyone anywhere as most members dont really know the back end of the HML business and how it all works.

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    1Reply
  • Gary W Goff
    Member since 2023 · 2 posts · 1 vote
    3y

    I am seeding information on SilverSky as well and would appreciate any info from anyone else that has conducted business with them.

    Gary Goff

    Houston, Tx

    0Reply
  • Nick BelskyBusiness Member
    OP
    Lender · Orlando, FL · Member since 2021 · 1k+ posts · 704 votes
    3y

    @Rodolfo Velez

    Just going to leave the attached right here, below.

    Never got a revised term sheet.  

    Never got told the deal was not a good fit or was off the table.

    Never got a call to setup the call with the previous client.

    Never got the due diligence package that was being "sent over by end of day tomorrow".

    Never injected politics into anything... where did that come from?

    Never smeared nor propagandized anything.  You're doing that all by yourself with what you've written here.

    Make good choices, people.  

    Cheers!

    [email protected]
    Belsky Mortgage, LLC522 Reviews
    WebsiteView Page
    1Reply
  • Nick BelskyBusiness Member
    OP
    Lender · Orlando, FL · Member since 2021 · 1k+ posts · 704 votes
    3y

    @Jay Hinrichs

    Was never interested in their back office.  Inquiry was seeking anyone who had actually conducted business with them.  Investor/broker/borrower/realtor/etc... Hence, the due diligence.

    Cheers!

    [email protected]
    Belsky Mortgage, LLC522 Reviews
    WebsiteView Page
    0Reply
  • Salar Royaei
    Member since 2023 · 1 post · 0 votes
    3y

    Hello, 

    I am new here and like @Nick Belsky looking for someone who has executed with Silver Sky. Their terms are aggressive, yet i cannot find any previous fundings. Any solid feedback would be greatly appreciated. 

    0Reply
  • Rakesh Bansal
    Member since 2023 · 3 posts · 2 votes
    3y

    They are scam artists. Stay away from them. We had a horrible experience dealing with them. Took our app fee and then ghosted us.

    1Reply
  • Kris Morgan
    Member since 2023 · 1 post · 3 votes
    3y

    Jerry Yang, CEO of SilverSky Capital issued my company a term sheet in July 2023 with a sept 1 close date. Great terms and represented as a balance sheet loan. 
    Jerry Yang told us he would be wiring funds into escrow on the first…. That did not happen. 
    He then disappeared. 
    Rodolfo Velez was brought into the communications where he let us know that funds were NOT on their balance sheet and Jerry would be securing an “investor partners” funds

    long story short we’re in mid October. Very little if any communication from Jerry or Rodolfo. Three times we were told a wire is being sent to escrow in the coming days. Three times that never happened.  

    SilverSky Capital is a non performing entity that is led by a man willing to lie, mislead and ignore clients who have been issued term sheets and have made deposits in good faith. 


    stay as far away from SilverSky capital as you can. Below I have some screenshots from Jerry Yang and Rodolfo Velez making false representations. These guys shouldn’t be in business. 

    3Reply
  • Steve Bowen
    Member since 2023 · 1 post · 1 vote
    2y

    Stole client's funds. 

    1Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    2y
    Quote from @Kris Morgan:

    Jerry Yang, CEO of SilverSky Capital issued my company a term sheet in July 2023 with a sept 1 close date. Great terms and represented as a balance sheet loan. 
    Jerry Yang told us he would be wiring funds into escrow on the first…. That did not happen. 
    He then disappeared. 
    Rodolfo Velez was brought into the communications where he let us know that funds were NOT on their balance sheet and Jerry would be securing an “investor partners” funds

    long story short we’re in mid October. Very little if any communication from Jerry or Rodolfo. Three times we were told a wire is being sent to escrow in the coming days. Three times that never happened.  

    SilverSky Capital is a non performing entity that is led by a man willing to lie, mislead and ignore clients who have been issued term sheets and have made deposits in good faith. 


    stay as far away from SilverSky capital as you can. Below I have some screenshots from Jerry Yang and Rodolfo Velez making false representations. These guys shouldn’t be in business. 


    Yup watch american greeds episode on Remington financial and google ingrid Robinson to see how these scammers operate.. its always tomorrow and its always some other excuse.. they suck you in with rates below market and well we all want to hope its true but its not its a scam.. and generally you will see on the American Greed episode the dollar amounts per individual borrower is small under 10k so no authorities really are going to look into it.. it too small to litigate over so the money is gone the deal cancels for non performance and the Investor/ borrower many times losses their EM and their due diligence money spent.
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    JLH Capital Partners51 Review
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  • Jeff Baker
    Providence · Member since 2011 · 1 post · 0 votes
    2y
    Quote from @Rodolfo Velez:

    The @Nick Smear Campaign

    Hello BPC,

    First off, I'm Rodolfo Velez, AVP Operations with SilverSky Capital. Nick Belsky happens to be a broker seeking funding with SilverSky and made the very first contact with Guatam Shah a Senior Loan Officer at SilverSky on May 10,2023. They got on talking and Nick sent his first deal on May 18 but not yet a registered broker with SilverSky (We do have a broker program to enroll brokers before we ever fund their deals).

    Our investor's on the deal doing due diligence had concerns with both the sponsors and the deal which were communicated with Nick then again he reached out to me (Rodolfo) on June 7 and I knew nothing about it, but quickly reached out to Shah who confirmed the deal was off the table and Nick was told the deal is not a good fit.

    Nick requested for references which I did provide, I guess he was possibly looking at the wrong website (silverskycapital.com) hence he couldn't find any reference of our closed deals.

    We did receive client's complaints about Nick's negative propaganda on BP and I had to respond to his claims by signing up on BP but while I'm glad to become a new member

    of the BPC, I can only hope not to get banned like everyone else whose account got closed in this thread without a known reason, not to mention our FL client, John Stolarenko whose been a member of BPC for over 2 years, but responded and got his account deactivated, he's did reach out to find out what was going on and if this is what paying $500 for an annual premium membership on BP is about, then I don't think I want to be part, especially being used as a platform to bully private lenders and investors who declined to fund loan request is preposterous.

    This only reminds me how Trump got kicked off of Twitter in 2021. And In the words of Elon Musk "Free speech lies at the core of democratic values, allowing individuals to

    express their opinions and engage in open discussions."


    0Reply
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