Lending one Rental Program to Finance

10 Replies

Hi All, 

I been in the process of working with Lending one on a loan conversion. Has anyone have any experience with Lendingone before? 

I took out a construction loan with lending one about a year ago to renovate a 3 family home. The loan was for $75k. Now that I finally got C/O for the property and it's finally starting to rent out, I'm working with someone from Lendingone on changing that construction loan to their rental 30 program which allows me to also cash out another 75-85k from the finished property. 

The only thing I notice is that it's pretty hard to qet quick replies from Lending One. I submitted all the required docs and am waiting to get an appraisal for the property. But have not been contacted by anyone about that yet. I know it's probably holiday season and delays can happen, but has anyone done this before and can share some light on this?? 

Thanks all. 

Welcome to BP.  I have no experience with Lending One, but am bumping your thread for some other input.

Hi, Kevin. Thanks for your feedback. I am the Inside Sales Manager at LendingOne. I will speak personally with your Account Representative about the response times. We always want to hear from our borrowers on how we can get better. Please be on the lookout for a call and email in the very near future.


Thank you,

John Della Bella

https://www.biggerpockets.com/forums/520/topics/25...

Here is a good thread to read if you are looking to learn more ...

Originally posted by @James Ihssen :

https://www.biggerpockets.com/forums/520/topics/25...

Here is a good thread to read if you are looking to learn more ...

 That thread link is cut off

https://www.biggerpockets.com/forums/520/topics/256873-lendingone--anyone-work-with-them-before?page=4

 Here you go!

@John Della Bella I have been trying to get a phone call (requested for phone chats and left VMs) with an account specialist from LendingOne for a week now and still haven't heard back from my supposedly account specialist. I have submitted my application online but I have several questions I would like to clarify. Is there a way I can have a different account manager and get the conversation go a little bit faster?

Hi, @Janette Olano . I apologize that you haven't heard back from your Account Executive. We will be reaching out to you in just a moment. Thank you!

Perhaps I'm missing some information but, does this particular lender provide funds for new investors without real estate assests? 

Hi, @Benjamin Z. Pickens . At LendingOne, we do provide financing to first-time investors all of the time. Let's connect so we can discuss your deals. Thank you.

I was told by lending one that a single member LLc in Georgia has to have their own fed I'd number,  which is not correct. it's pass through and can be handled through the member's personal tax return. So, I had to close with another company. 

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