Has anyone had an experiences with Cogo Capital?

Most Popular Reply

Erik D.
Investor · Minneapolis, MN · Member since 2014 · 79 posts · 17 votes
9y

I recently had a phone call with them. They told me that they like to lend to people with solid experience. To gain that experience, I could go to a 3-day training session for $3000. I have heard that some people are given a price of $2500 and sometimes less. Why does the price change for the training session? Why do I need to pay a lender money for training before they lend me money?

So for ~$2500, you get training. Then they will lend to you up to 4 loans at a time and will fund 100% of what you need.

All this talk about an inner circle and the Lee Arnold "system."

What's the deal here? Legit? Not legit?

7Reply
See this reply in the discussion

35 Replies

Jump to latestLatest
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    10y

    I had a client use them to take me out of a deal.. it was not a smooth transaction on his side.. but it eventually got done.

    Podcast Guest on Show #222
    JLH Capital Partners51 Review
    WebsiteView Page
    2Reply
  • Jorge Borjas
    Flipper/Rehabber · Dallas, GA · Member since 2016 · 147 posts · 39 votes
    10y

    I recently contacted them and they spent a lot of time trying to sell me on their mentoring program that costs an arm and leg. They seem like the gurus that want to coach you for a fortune. I think the CEO is Lee Arnold. Has anyone gone through that program or other related programs? How have your dealings been with them? I definitely don't like the idea of putting $10k up front for a program that is not guaranteed to work. Your thoughts and advice please. Thanks!

    6Reply
  • Erik D.
    Investor · Minneapolis, MN · Member since 2014 · 79 posts · 17 votes
    9y

    I recently had a phone call with them. They told me that they like to lend to people with solid experience. To gain that experience, I could go to a 3-day training session for $3000. I have heard that some people are given a price of $2500 and sometimes less. Why does the price change for the training session? Why do I need to pay a lender money for training before they lend me money?

    So for ~$2500, you get training. Then they will lend to you up to 4 loans at a time and will fund 100% of what you need.

    All this talk about an inner circle and the Lee Arnold "system."

    What's the deal here? Legit? Not legit?

    7Reply
  • Chris Kraemer
    Midlothian, TX · Member since 2017 · 42 posts · 9 votes
    8y

    I just had a terrible deal with GOGO. They were so bad,  I had to delay closing to switch lenders. They sold themselves as a fast hard money lender, but were slow and required more paperwork than any bank. They also changed their terms prior to closing. They could have easily cost me the entire deal and they seemed ambivalent.

    4Reply
  • Alphonso H.
    Wholesaler · Columbus, MS · Member since 2015 · 38 posts · 0 votes
    8y

    I'm contemplating using Cogo on a 100k deal now...should I try them or use another lender?

    0Reply
  • Brandon O'Neill
    Real Estate Consultant · Newton, MA · Member since 2017 · 3 posts · 2 votes
    8y

    if loan needed requires rehab. Note it will be dragged on and investigated on your draws for them to dispense draws. So make sure you have up front money for contractors to continue working cause cogo capital draw people will drag. Also their fees will run you about 13000 at closing. Plus down payment. And application cost way too high 297 non refundable. Crap

    1Reply
  • Shon LaRoi
    46231 · Member since 2018 · 14 posts · 6 votes
    8y

    Does anyone know of any legit private or hard money lenders they would recommend? So many scams just looking for a legitimate company willing to give newbies a try.

    0Reply
  • Account Closed
    Lender · Dallas, TX · Member since 2018 · 110 posts · 32 votes
    8y

    There are plenty of legitimate private lenders and hard money lenders out there.  Just do your due diligence.  I would recommend researching/interviewing lenders before you get a property under contract.

    1Reply
  • Shon LaRoi
    46231 · Member since 2018 · 14 posts · 6 votes
    8y

    Ok I  will. I just always see the scams. Nobody post about the good companies.

    0Reply
  • Frank Y.
    Lender · Philadelphia, PA · Member since 2017 · 225 posts · 72 votes
    8y
    @Stacy Gilman that’s a company trying to sell you expensive no-use courses. I would stay away from them.
    2Reply
  • Frank Y.
    Lender · Philadelphia, PA · Member since 2017 · 225 posts · 72 votes
    8y
    @Shon LaRoi where are you? I would suggest go to your local REI meet up to find private money lenders.
    0Reply
  • Shon LaRoi
    46231 · Member since 2018 · 14 posts · 6 votes
    8y

    Hello Frank 

    I am in Indianapolis. I will be attending a  meeting this evening. 

    0Reply
  • John Wallace
    Rental Property Investor · Buhl Idaho · Member since 2018 · 20 posts · 12 votes
    8y

    Anybody had any good experiences with COGO Capital that they want to report ???

    2Reply
  • Alex Gurvitz
    Lender · Brooklyn, NY · Member since 2015 · 42 posts · 37 votes
    7y

    They are a scam, and no longer close loans. The are a fee grabbing institution. Don't waste your time!

    5Reply
  • Catherine Reckert
    Harpers Ferry, WV · Member since 2016 · 4 posts · 5 votes
    7y

    I'm in the middle of a deal right now with Cogo Capital and totally frustrated.  Will probably lose the deal because of their lack of response and poor service.  Will NOT use them again!

    4Reply
  • Matt Dalton
    Flipper/Rehabber · Member since 2019 · 4 posts · 4 votes
    7y

    I have had to ask for two contract extensions so far using them, and now trying to switch lenders last minute. It sounds like this is everyone's experience with them. I now have yet to find a single completed transaction using their "lending".

    1Reply
  • Matt Dalton
    Flipper/Rehabber · Member since 2019 · 4 posts · 4 votes
    7y
    Originally posted by @Alex Gurvitz:

    They are a scam, and no longer close loans. The are a fee grabbing institution. Don't waste your time!

    Alex, can you please elaborate? I would like to know more please.

    0Reply
  • Andrew Vasquez
    Member since 2018 · 3 posts · 0 votes
    6y

    The agent sent me a link with a heartfelt video which sounded great. If it sounds to good to be true, it probably is. Im still in search for a Hard Money loan for Missouri REI.

    0Reply
  • A. Nainoa Wong
    Honolulu, HI · Member since 2019 · 7 posts · 4 votes
    6y

    COGO contacted me, trying to sell me their courses and mentorship programs. Red flag right away.

    0Reply
  • Markham Burton
    Member since 2020 · 2 posts · 0 votes
    6y

    I too had a very bad experience with cogo. Trying to use them was a big mistake. They were rude,condescending and unprofessional. It left me wondering why their investors put up with their behavior or lack there of.

    0Reply
  • Daniel Martin
    Member since 2019 · 1 post · 0 votes
    6y

    They did a great show on the best deal ever with Corsini (#17), and I was trying to find the show notes to contact them, but from all the feedback may not bother.  I am in the midst of rehabbing my first deal (a rented triplex with long term tenants that was owned by a major slumlord).  Hopefully will be able to do new deals after the refi without needing hard money. 

    0Reply
  • Dan McCluskey
    Real Estate Broker · Saint Louis, MO · Member since 2014 · 36 posts · 4 votes
    6y

    Worst outfit I've ever dealt with.  Amended contract 3 times due to system they require for appraisals.  Buyer could never get the loan approved on time.  Client had to source a local appraiser for COGO, due to scarcity of appraisers belonging to "Appraisal Nation."  COGO never seemed to know what's going on with the deal throughout.  Finally, emailed the L.O. saying I hated to interrupt him, but how many more Amendments will be needed to close this deal, or whether there's any plan to close at all.  Buyer paid his "fees" COGO charges, so I guess that was sufficient for COGO.  I will NEVER work with another client who even mentions that lender's name.

    1Reply
  • Seko Varner
    Hampton Roads · Member since 2020 · 2 posts · 1 vote
    5y

    I’ve brokered one deal for a client with COGO and I close on another deal in three days. They are the most stringent fund that I broker money for. I broker private funds for four funds. I’m not sure what happened in the past, I am having a decent experience with them as of 12/15/2020.


    Seko Varner 

    1Reply
  • Sergio Belich
    Member since 2021 · 2 posts · 0 votes
    4y
    Quote from @Catherine Reckert:

    I'm in the middle of a deal right now with Cogo Capital and totally frustrated.  Will probably lose the deal because of their lack of response and poor service.  Will NOT use them again!


     Hi, who do you use right now?

    0Reply
  • Sergio Belich
    Member since 2021 · 2 posts · 0 votes
    4y
    Quote from @Dan McCluskey:

    Worst outfit I've ever dealt with.  Amended contract 3 times due to system they require for appraisals.  Buyer could never get the loan approved on time.  Client had to source a local appraiser for COGO, due to scarcity of appraisers belonging to "Appraisal Nation."  COGO never seemed to know what's going on with the deal throughout.  Finally, emailed the L.O. saying I hated to interrupt him, but how many more Amendments will be needed to close this deal, or whether there's any plan to close at all.  Buyer paid his "fees" COGO charges, so I guess that was sufficient for COGO.  I will NEVER work with another client who even mentions that lender's name.


     Hi Dan,

    Having issues with delayed responses, and some conflicting double-talk.  Can you recommend any lenders? 

    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free