Looking for advice on backflip lender

Portland, Maine
Private Lending & Conventional Mortgage Advice
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Looking for advice on backflip lender

Magdalene Leon
Member since 2024 · 2 posts · 0 votes

Hi - I was just curious if anyone has used backflip as a hard money lender?  From what I have researched they seem legitimate but the person I am working with is flakey, takes forever to answer questions so I thought I would see if anyone else had experience with this lender.  Thank you!

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Jace Perry
Investor · FL · Member since 2017 · 134 posts · 66 votes
2y
Quote from @Nick Belsky:

@Magdalene Leon

They are legit.  I've brokered with them quite a few times and while they are not my top lender, they are in the top 5.  When the top ones can't/won't do the deal, Backflip usually will and they are super fast and easy.  My client's have been happy with the draw process and response times as well. All of their products are Dutch-interest and their highest leverage option is a 1st position with a 2nd position loan wrapped with it to get to higher leverages.  Those two things turn some folks off, but if the numbers work, they work.  Get in, then get out.

Cheers!


 Are you willing to share who your top 2 lenders are?

10Reply
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  • Ryan Davies
    Investor · Salt Lake City, UT · Member since 2019 · 339 posts · 126 votes
    2y

    We have heard of them but have chosen not to close deals through them since we have found better options. We have a lot of investors that are way more flexible.

    5Reply
  • Jacob Sherman
    12 Penns Trail Suite 138 Newtown, PA 18940 · Member since 2023 · 1k+ posts · 319 votes
    2y

    What you want to ask is if they are a direct lender funding and servicing your loan

    2Reply
  • Nick BelskyBusiness Member
    Residential and Commercial Broker · Member since 2021 · 1k+ posts · 704 votes
    2y

    @Magdalene Leon

    They are legit.  I've brokered with them quite a few times and while they are not my top lender, they are in the top 5.  When the top ones can't/won't do the deal, Backflip usually will and they are super fast and easy.  My client's have been happy with the draw process and response times as well. All of their products are Dutch-interest and their highest leverage option is a 1st position with a 2nd position loan wrapped with it to get to higher leverages.  Those two things turn some folks off, but if the numbers work, they work.  Get in, then get out.

    Cheers!

    [email protected]
    Belsky Mortgage, LLC527 Reviews
    WebsiteView Page
    4Reply
  • Magdalene Leon
    OP
    Member since 2024 · 2 posts · 0 votes
    2y

    Thank you for all the responses! They were all very helpful and appreciated.  

    0Reply
  • Roger Segura
    Member since 2023 · 11 posts · 5 votes
    2y
    Quote from @Nick Belsky:

    @Magdalene Leon

    They are legit.  I've brokered with them quite a few times and while they are not my top lender, they are in the top 5.  When the top ones can't/won't do the deal, Backflip usually will and they are super fast and easy.  My client's have been happy with the draw process and response times as well. All of their products are Dutch-interest and their highest leverage option is a 1st position with a 2nd position loan wrapped with it to get to higher leverages.  Those two things turn some folks off, but if the numbers work, they work.  Get in, then get out.

    Cheers!


     Who is the top lender you recommend? Thanks!

    3Reply
  • Roger Segura
    Member since 2023 · 11 posts · 5 votes
    2y
    Quote from @Ryan Davies:

    We have heard of them but have chosen not to close deals through them since we have found better options. We have a lot of investors that are way more flexible.


    Who is the top lender you recommend? Thanks!
    0Reply
  • Jace Perry
    Investor · FL · Member since 2017 · 134 posts · 66 votes
    2y
    Quote from @Nick Belsky:

    @Magdalene Leon

    They are legit.  I've brokered with them quite a few times and while they are not my top lender, they are in the top 5.  When the top ones can't/won't do the deal, Backflip usually will and they are super fast and easy.  My client's have been happy with the draw process and response times as well. All of their products are Dutch-interest and their highest leverage option is a 1st position with a 2nd position loan wrapped with it to get to higher leverages.  Those two things turn some folks off, but if the numbers work, they work.  Get in, then get out.

    Cheers!


     Are you willing to share who your top 2 lenders are?

    10Reply
  • Jace Perry
    Investor · FL · Member since 2017 · 134 posts · 66 votes
    2y
    Quote from @Ryan Davies:

    We have heard of them but have chosen not to close deals through them since we have found better options. We have a lot of investors that are way more flexible.


     Who is your favorite lender to work with?

    3Reply
  • Ronnie C.
    Real Estate Investor · Middle TN and Southern KY · Member since 2014 · 71 posts · 26 votes
    2y
    Quote from @Ryan Davies:

    We have heard of them but have chosen not to close deals through them since we have found better options. We have a lot of investors that are way more flexible.


     Would you be so kind to share please?

    1Reply
  • Janet Pritchett
    Lender · IN · Member since 2024 · 12 posts · 7 votes
    2y
    Quote from @Magdalene Leon:

    Hi - I was just curious if anyone has used backflip as a hard money lender?  From what I have researched they seem legitimate but the person I am working with is flakey, takes forever to answer questions so I thought I would see if anyone else had experience with this lender.  Thank you!


     I am always happy to chat about hard money - and I am biased, but I think I am an excellent communicator! ;)

    2Reply
  • Jace Perry
    Investor · FL · Member since 2017 · 134 posts · 66 votes
    2y
    Quote from @Magdalene Leon:

    Hi - I was just curious if anyone has used backflip as a hard money lender?  From what I have researched they seem legitimate but the person I am working with is flakey, takes forever to answer questions so I thought I would see if anyone else had experience with this lender.  Thank you!


    Just closed on my first loan with them. Very tech-forward and straightforward experience. 

    3Reply
    • Teoy Thompson
      Investor · Conroe, TX · Member since 2025 · 2 posts · 0 votes
      1y
      Quote from @Jace Perry:
      Quote from @Magdalene Leon:

      Hi - I was just curious if anyone has used backflip as a hard money lender?  From what I have researched they seem legitimate but the person I am working with is flakey, takes forever to answer questions so I thought I would see if anyone else had experience with this lender.  Thank you!


      Just closed on my first loan with them. Very tech-forward and straightforward experience. 

      Jace, how's the experience with them been since your last post 7 months ago?

      @Jace Perryundefined

      0Reply
    • Jace Perry
      Investor · FL · Member since 2017 · 134 posts · 66 votes
      1y
      Quote from @Teoy Thompson:
      Quote from @Jace Perry:
      Quote from @Magdalene Leon:

      Hi - I was just curious if anyone has used backflip as a hard money lender?  From what I have researched they seem legitimate but the person I am working with is flakey, takes forever to answer questions so I thought I would see if anyone else had experience with this lender.  Thank you!


      Just closed on my first loan with them. Very tech-forward and straightforward experience. 

      Jace, how's the experience with them been since your last post 7 months ago?

      @Jace Perryundefined


       Great experience overall. Would use them again.

      0Reply
  • Jodi-Ann Birch
    Member since 2021 · 13 posts · 6 votes
    1y
    Quote from @Ryan Davies:

    We have heard of them but have chosen not to close deals through them since we have found better options. We have a lot of investors that are way more flexible.


     Hi Ryan, 

    would you mind sharing who you use? 

    thanks

    0Reply
  • Rahman Sobhan
    Investor · CA · Member since 2018 · 22 posts · 18 votes
    1y
    Quote from @Ryan Davies:

    We have heard of them but have chosen not to close deals through them since we have found better options. We have a lot of investors that are way more flexible.


    Would you mind sharing your better options?

    3Reply
  • Shawn David sawtelle
    Member since 2019 · 1 post · 0 votes
    1y

    So far, no issue other than the biosecurity stuff. I get having a driver's license to verify identity, but recording your head turning like a mug shot is a little much. 

    0Reply
  • Nick BelskyBusiness Member
    Residential and Commercial Broker · Member since 2021 · 1k+ posts · 704 votes
    1y
    Quote from @Shawn David sawtelle:

    So far, no issue other than the biosecurity stuff. I get having a driver's license to verify identity, but recording your head turning like a mug shot is a little much. 

     Lol.  I had one client who couldn't get past this due to laughing too hard during the process.  It is a bit overkill for sure.  She said she had to think about something sad to calm herself down so the camera would accept her face.  Lol.

    Cheers!

    [email protected]
    Belsky Mortgage, LLC527 Reviews
    WebsiteView Page
    0Reply
  • Abraham Lim
    Member since 2024 · 6 posts · 0 votes
    1y

    I haven’t worked with Backflip personally, but they seem legitimate. If communication is an issue, consider getting everything in writing or checking reviews for more feedback.

    0Reply
  • Rahman Sobhan
    Investor · CA · Member since 2018 · 22 posts · 18 votes
    1y
    Quote from @Janet Pritchett:
    Quote from @Magdalene Leon:

    Hi - I was just curious if anyone has used backflip as a hard money lender?  From what I have researched they seem legitimate but the person I am working with is flakey, takes forever to answer questions so I thought I would see if anyone else had experience with this lender.  Thank you!


     I am always happy to chat about hard money - and I am biased, but I think I am an excellent communicator! ;)


     Hi Janet, Are you a hard money lender or a traditional lender?

    0Reply
  • Janet Pritchett
    Lender · IN · Member since 2024 · 12 posts · 7 votes
    1y
    Quote from @Rahman Sobhan:
    Quote from @Janet Pritchett:
    Quote from @Magdalene Leon:

    Hi - I was just curious if anyone has used backflip as a hard money lender?  From what I have researched they seem legitimate but the person I am working with is flakey, takes forever to answer questions so I thought I would see if anyone else had experience with this lender.  Thank you!


     I am always happy to chat about hard money - and I am biased, but I think I am an excellent communicator! ;)


     Hi Janet, Are you a hard money lender or a traditional lender?

    Both! I’m a broker that has access to conventional, non-QM, and hard money loans. 
    0Reply
  • Annie Seurer
    Investor · West Palm Beach, FL · Member since 2024 · 90 posts · 47 votes
    1y

    @Magdalene Leon - I'm happy to discuss Backflip's loan products and our process. Don't hesitate to reach out!

    0Reply
  • Alexia Bonchu
    Member since 2022 · 2 posts · 1 vote
    1y
    Quote from @Nick Belsky:

    @Magdalene Leon

    They are legit.  I've brokered with them quite a few times and while they are not my top lender, they are in the top 5.  When the top ones can't/won't do the deal, Backflip usually will and they are super fast and easy.  My client's have been happy with the draw process and response times as well. All of their products are Dutch-interest and their highest leverage option is a 1st position with a 2nd position loan wrapped with it to get to higher leverages.  Those two things turn some folks off, but if the numbers work, they work.  Get in, then get out.

    Cheers!

     Hi Nick, I'm a newer investor.  Would you explain the con of them being 2nd position?  Thanks

    0Reply
  • Nick BelskyBusiness Member
    Residential and Commercial Broker · Member since 2021 · 1k+ posts · 704 votes
    1y
    Quote from @Alexia Bonchu:
    Quote from @Nick Belsky:

    @Magdalene Leon

    They are legit.  I've brokered with them quite a few times and while they are not my top lender, they are in the top 5.  When the top ones can't/won't do the deal, Backflip usually will and they are super fast and easy.  My client's have been happy with the draw process and response times as well. All of their products are Dutch-interest and their highest leverage option is a 1st position with a 2nd position loan wrapped with it to get to higher leverages.  Those two things turn some folks off, but if the numbers work, they work.  Get in, then get out.

    Cheers!

     Hi Nick, I'm a newer investor.  Would you explain the con of them being 2nd position?  Thanks


    I wouldn't say there are any cons to it.  Some don't like the idea of a 2nd position lien that is very small and very high on interest rate.  The blended rate between the two loans still comes out to be what is quoted.  Sometimes I have to show clients the math for them to get comfortable with it.  Recently, management changed it so both loans can be made with one payment versus two separate transactions.  Many clients liked that change.

    Cheers!

    [email protected]
    Belsky Mortgage, LLC527 Reviews
    WebsiteView Page
    0Reply
  • Oshy Thompson
    Member since 2021 · 1 post · 0 votes
    1y
    Quote from @Ryan Davies:

    We have heard of them but have chosen not to close deals through them since we have found better options. We have a lot of investors that are way more flexible.

    Which lenders do you find to be more flexible?
    0Reply
  • Chris SeveneyBusiness Member
    Moderator
    Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
    1y
    Quote from @Magdalene Leon:

    Hi - I was just curious if anyone has used backflip as a hard money lender?  From what I have researched they seem legitimate but the person I am working with is flakey, takes forever to answer questions so I thought I would see if anyone else had experience with this lender.  Thank you!

    They are a legit lender, we have bought loans from them. Question is, is the person you are dealing with a correspondent broker who brings them deals to fund or someone from their company. Big differences as its like a wholesaler of loans sometimes. There are tons of hard money lenders out there, my question is why them? 

    7e investments53 Reviews
    WebsiteView Page
    0Reply
  • Alexia Bonchu
    Member since 2022 · 2 posts · 1 vote
    1y
    Quote from @Chris Seveney:
    Quote from @Magdalene Leon:

    Hi - I was just curious if anyone has used backflip as a hard money lender?  From what I have researched they seem legitimate but the person I am working with is flakey, takes forever to answer questions so I thought I would see if anyone else had experience with this lender.  Thank you!

    They are a legit lender, we have bought loans from them. Question is, is the person you are dealing with a correspondent broker who brings them deals to fund or someone from their company. Big differences as its like a wholesaler of loans sometimes. There are tons of hard money lenders out there, my question is why them? 


     Their zero gravity product is extremely attractive - they loan 96% LTC!  With only 2 points.  I haven't found a lender yet that lends that much. 

    1Reply
  • Chris SeveneyBusiness Member
    Moderator
    Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
    1y
    Quote from @Alexia Bonchu:
    Quote from @Chris Seveney:
    Quote from @Magdalene Leon:

    Hi - I was just curious if anyone has used backflip as a hard money lender?  From what I have researched they seem legitimate but the person I am working with is flakey, takes forever to answer questions so I thought I would see if anyone else had experience with this lender.  Thank you!

    They are a legit lender, we have bought loans from them. Question is, is the person you are dealing with a correspondent broker who brings them deals to fund or someone from their company. Big differences as its like a wholesaler of loans sometimes. There are tons of hard money lenders out there, my question is why them? 


     Their zero gravity product is extremely attractive - they loan 96% LTC!  With only 2 points.  I haven't found a lender yet that lends that much. 

    Interesting product, I am sure there is a reason why others are not doing it. 

    7e investments53 Reviews
    WebsiteView Page
    0Reply
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