Dominion Financial Services/ Private Money

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Dominion Financial Services/ Private Money

Andy Grubbs
Mount Juliet, TN · Member since 2015 · 2 posts · 2 votes

Does anyone know of or had dealings with Dominion Financial Services. I received a letter from them wanting to finance my next flip but I can't really find out much about them online. They are in Baltimore, MD. I may want to have a back up plan if needed on a deal but won't work with just anyone.

Thans,

Andy

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Brian H.
Carolina · Member since 2017 · 519 posts · 222 votes
7y

@Patricia King

Thanks for that.  Seems most of the positive reviews in this thread were from people that have never posted here before? Granted so was yours... but I am warier of an account leaving a positive review as their first post or two and never posting again... makes me think someone at the company is trying to pump them up. Maybe that is just me being paranoid. Can't seem to find many people that can say they have used them successfully or even gotten a callback?

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  • Ola Dantis
    Multifamily Syndicator · Houston, TX · Member since 2016 · 1k+ posts · 2k+ votes
    9y

    @Andy Grubbs Hey Andy, I have seen Dominion offerings when looking at different hard money lenders. There are other lenders other there. Is there any reason why you are considering this particular lender? As there many lenders who borrow in the state of Maryland. Thanks! - Ola 

    0Reply
  • Andy Grubbs
    OP
    Mount Juliet, TN · Member since 2015 · 2 posts · 2 votes
    9y

    I received a letter from them yesterday where they pulled info on my last flip and wanted me to consider them for my next flip. I have not used any lenders, bank or Hard Money as of yet. I usually pay cash and rehab out of pocket also. I just thought I might want to have another option if I come across another property and not have enough cash reserves to pay cash. I am in the Nashville, Tennessee area. 

    Thank you for your information.

    0Reply
  • Samantha SolomonPro Member
    Flipper/Rehabber · Murfreesboro, TN · Member since 2016 · 25 posts · 6 votes
    9y

    Hmmm. I might want to contact them. 

    0Reply
  • Account Closed
    Investor · Baltimore, MD · Member since 2014 · 1k+ posts · 688 votes
    9y
    Largest private landlord in baltimore city. 500 units owned, 700 managed. Well respected. Probably expensive to borrow from, but not going to get burned.
    2Reply
  • Andy Gross
    Baltimore, MD · Member since 2014 · 145 posts · 65 votes
    9y
    Dominion is a well run organization. As said, well respected.
    1Reply
  • Ned CareyPro Member
    Moderator
    Investor · Baltimore, MD · Member since 2008 · 17k+ posts · 13k+ votes
    9y

    I have never done business with Dominion. I do know many of the people there and respect them. . They are a well run company and they have been growing their hard money lending business at a phenomenal rate. 

    1Reply
  • Ian Barnes
    Rental Property Investor · Baltimore, MD · Member since 2014 · 247 posts · 321 votes
    9y

    Well Run company.  The two owners have a ton of experience, and are honest.  I've never used them for a loan, since I don't use hard money, but if I did, I would go to them.  Just my experiences based upon what I hear in MD.  They also run a meetup.com group in Baltimore.  I recently went to a presentation, and I was impressed with their knowledge.

    0Reply
  • Dwight Harmon
    Contractor · Baltimore, MD · Member since 2016 · 6 posts · 2 votes
    9y

    Received same type of letter few years ago, followed up with there representative, I was not there type investor at the time, small under 100K buy/hold deals, after some research on lenders and newer direction in real estate from being on Bigger pockets decided to do larger deals ( flips) to use Dominion type company's hard money lenders in the last few months and have had a tough time getting responses, I just might not be there type of investor risk they are looking for? 

    1Reply
  • Dwight Harmon
    Contractor · Baltimore, MD · Member since 2016 · 6 posts · 2 votes
    9y

    Received a call today from Dominion and they were very respectable company, and there representative were very professional they sent there information over to work with there company, very happy with the way things have turned out, looks like they are interested in working with my company.

    0Reply
  • Jordan Kim
    Investor · Silver Spring, MD · Member since 2015 · 25 posts · 7 votes
    9y

    @Andy Grubbs I got the same letter a few days ago, and had same question as you were.  Glad to find out BP members seem to know about them.

    0Reply
  • Charles Kao
    Specialist · Grand Rapids, MI · Member since 2016 · 1k+ posts · 611 votes
    9y
    Andy Grubbs I know this thread is a month old but did you find out anything else?
    0Reply
  • Sonya Van Sickle
    Rock Hill, SC · Member since 2017 · 1 post · 0 votes
    9y

    I would like to learn more about Dominion Financial Services too....has anyone done business with them?  Researching online as well.

    thank you!

    Sonya

    0Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    9y

    I just got a letter this week as well... I am a big player in that area.. I have exactly one flip going on LOL

    Podcast Guest on Show #222
    JLH Capital Partners51 Review
    WebsiteView Page
    1Reply
  • John Corbin
    Investor · Columbia, TN · Member since 2017 · 5 posts · 2 votes
    9y

    I'm currently trying to contact them, no luck so far. They have a very aggressive mailing campaign. I've received 5 so far! I won't do business with them if I don't receive a response soon. Anyone closed deals with them yet? 

    0Reply
  • Anna L.
    Investor · Philadelphia, PA · Member since 2016 · 73 posts · 43 votes
    9y

    Interested in recent feedback too. I am about to get pre-qualification. So, far I had a pleasant conversation with one of the managers. But want to make sure I am sending my data to a reuptable company.

    Thanks!

    Anna

    0Reply
  • Paul Khazansky
    Investor · Washington D.C. · Member since 2013 · 94 posts · 18 votes
    9y

    Dominion are our biggest competitor in the Baltimore market! From what I hear, they're a reputable, well-run firm. 

    Paul

    0Reply
  • Account Closed
    Investor · Williamstown, NJ · Member since 2014 · 42 posts · 11 votes
    9y

    We got several letters from them too.  They offer one of the Co-Owner #'s and tell you to call, however, it dumps right to voicemail with no one ever answering.  Has anyone actually ever closed a deal with them or are they just an aggressive marketer with spotty performance?  

    0Reply
  • Oscar Gomez
    Investor · Raleigh, NC · Member since 2014 · 8 posts · 1 vote
    9y

    Anyone have an update on this group? @Anna L. did you follow through on the pre-qual?

    0Reply
  • Anna L.
    Investor · Philadelphia, PA · Member since 2016 · 73 posts · 43 votes
    9y

    I did talk with someone at the Dominion. They sounded solid and legit. But I ended up finding another lender in my REA group.

    0Reply
  • Rory Fowler
    Investor · Birmingham, AL · Member since 2015 · 11 posts · 0 votes
    9y
    Would like to keep this thread updated as I also received a letter today congratulating me on my recent sale of a flip. If you have closed a deal with Dominion, please post your feedback. Also, if you know the specs of the deals they want please let us know - price, units, time frames, etc.
    0Reply
  • Dedric Polite
    Investor · Burlington, NC · Member since 2016 · 81 posts · 25 votes
    8y

    Looking for feedback and experience form anyone who's done business with Dominion as well. Thinking about using them for my next 3 unit purchase...

    0Reply
  • Account Closed
    Rental Property Investor · Miami, FL · Member since 2014 · 80 posts · 55 votes
    8y

    This is unusual in that all posters speak very highly of them, but no one has completed a financing deal with them. I did go through the pre-qualification process last year and was pre-approved for a sizable amount, but the process took 30+ days, not quick for an investor finding good deals at auction. I used another lender since I won at auction and needed a more nimble lender who could keep up with me. However, have reached out to them again (today) to see if I'm still qualified as their rates were very good, and just received a bounceback email from my contact there last year.  I'm sure people come and go in the hard money lender space, but my rep from Sherman Bridge is still there after 2 yrs.  My advice to anyone interested in using Dominion, start the pre-qualification process now...it takes a very long time.  Will follow-up if I actually use them.

    5Reply
  • David Weintraub
    Lender · Berkeley, CA · Member since 2017 · 1k+ posts · 549 votes
    8y
    I once called them and no one called me back. Friend of mine used them successfully so I wanted to inquire about their programs. They may do a good job but it seems customer service isn’t a property.
    1Reply
  • Joe Swanson
    Investor · Leander, TX · Member since 2016 · 28 posts · 4 votes
    8y

    Anyone know what their lending rates are?  apr, points?

    0Reply
  • Kevin M Finley
    Developer · Kenosha, WI · Member since 2017 · 141 posts · 91 votes
    8y

    Sorry- old thread, but I'm looking for honest reviews from folks that have gone all the way through a flip with this company. I'm considering them and like another member said, everyone has great things to say but few have actual experience. 

    I like the concept of a Real Estate Line of Credit but I found with FAO commercial that what's on the surface doesn't translate. Basically, once these companies get to a certain size, it's just as tough as an FHA loan, but with worse communication.

    0Reply
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