#Askbp Is there an online lending exchange that connects consumers with multiple lenders for real estate investing loans? Something similar to lending tree but for investors.
Looking for a fix and flip loan and I have been spending HOURS searching for different companies, so it would be great if i can just place all of the information on one site and have companies thats interested in lending on the deal reach out to me after reviewing the deal and my qualifications.
Sounds great I theory but this isn't shopping on Amazon. You need a relationship with the officer/bank. They have to have a vested interest in the deal and your business. And as the deals get bigger you get more and more on the line and less less consumer protections. I need to KNOW my lender is going to come through for me. Some guy at a call center in Ohio(no offense Ohio I just live far from there) that I got off of Lending Tree isn't going to hack it They have absolutely nothing to lose if my deal goes South.
@Matt Hoyt I suppose I will build the relationship during the process upon applying and after satisfaction of service. All my previous deals has been all cash deals so I have no previous lending institution that I have previously worked with. The purchase of the property was a cash deal so im just seeking funds for repairs.
@Charlie Fitzgerald Connectedinvestors is not a free service
Not many things of value are
Paul you definitely gotta start somewhere. I guess my greater point was so many times people just apply with whoever posts a nice rate on a search result. You are better off with a referral or someone who you can shake their hand. Whatever you can do to increase your chances that person will be honest, give you best effort and come through. Now if you can close with cash if they fail then it is less important...
@Charlie Fitzgerald Lendingtree which I used as an example is.
Actually the lead costs charged to the lenders on that platform are burdened out in the pricing analytics and fully paid fir by the borrowers that use the lenders on the platform . So as with most online "free" services, the end users foot the bill at some point.
@Charlie Fitzgerald well I will prefer to "foot the bill" in that way rather than to pay the $1500 up front cost that the company you suggested charges before I even uses their services. Thanks for the lesson though:)
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