Anyone have experience with Elite Funding Group LLC

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Anyone have experience with Elite Funding Group LLC

Chris C.
Wholesaler · Easley, SC · Member since 2010 · 340 posts · 249 votes

Had received an email from this group and spoke with them on the phone yesterday.  Seemed legit and expecting to hear back from them today on some proposals for a project I am working on.  Could not find much online so figured I would turn to BP.

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  • David M.
    Investor · Ravensdale, WA · Member since 2016 · 21 posts · 10 votes
    7y
    @Chris C. I have the same question. I spoke with a representative from Elite and everything sounds good. I have also spoken to a commercial lender and Elite sounds a lot better. Elite’s rates are a little higher but they sound MUCH more flexible. I’m curious to hear from anyone who has worked with them. Thanks.
    0Reply
  • Mike Burkett
    Lender · Colorado Springs, CO · Member since 2018 · 241 posts · 98 votes
    7y

    @Chris C. @David M.  It looks like they do equipment financing.  What kind of loans are you looking for?

    0Reply
  • David M.
    Investor · Ravensdale, WA · Member since 2016 · 21 posts · 10 votes
    7y
    @Mike Burkett I’m looking for multifamily.
    0Reply
  • Chris C.
    OP
    Wholesaler · Easley, SC · Member since 2010 · 340 posts · 249 votes
    7y

    SF Rentals

    1Reply
  • Tom S.
    Real Estate Investor · Burlington, VT · Member since 2010 · 2k+ posts · 1k+ votes
    7y

    @Chris C. @David M.  Did either of you move forward with them for property loans?

    0Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    7y
    Originally posted by @Tom S.:

    @Chris C. @David M.  Did either of you move forward with them for property loans?

     their website says they do equipment financing no mention of real estate financing. ???

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  • David M.
    Investor · Ravensdale, WA · Member since 2016 · 21 posts · 10 votes
    7y
    @Jay Hinrichs @Tom S. @Mike Burkett @Chris C. Hi, I should have read the post more carefully. I am actually talking about Elite Funding Group LLC. The website is: https://www.elitefundinggroupllc.com
    0Reply
  • Chris C.
    OP
    Wholesaler · Easley, SC · Member since 2010 · 340 posts · 249 votes
    7y

    @Tom S. I submitted an application etc but I am going to finish the rehab to get better terms before resubmitting.

    The back story is that I am about 90% done rehabbing a home for a rental.  They gave me decent terms on financing the rental and providing rehab funds but it did not make sense with me being so close to finished.  Being a rehab loan it was still fairly expensive.   I am going to finish the rehab and get it rented then resubmit for a rental loan.

    I have used Cashcall Mortgage twice and have been very happy with them but Elite seems to be more flexible and have more options so was going to see if they are competitive.

    1Reply
  • Chris C.
    OP
    Wholesaler · Easley, SC · Member since 2010 · 340 posts · 249 votes
    7y

    @Jay Hinrichs@Tom S.@Mike Burkett I realize there was another Elite Funding. I am also talking about Elite Funding Group.

    0Reply
  • Harish Ananthapadmanabhan
    Member since 2018 · 3 posts · 0 votes
    7y

    Hi @Chris C. @Jay Hinrichs @Tom S. @Mike Burkett

    I am currently speaking with Elite Funding Group LLC on a mixed-use property. They have asked me for $7500 to be wired for Appraisal and possible Phase 1. I have read in forums that upfront fees are generally big no-no's. Has anyone here closed an actual deal with Elite Funding Group LLC or have any comments on their upfront fee request?

    Thanks,

    Harish.

    0Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    7y
    Originally posted by @Harish Ananthapadmanabhan:

    Hi @Chris C. @Jay Hinrichs @Tom S. @Mike Burkett

    I am currently speaking with Elite Funding Group LLC on a mixed-use property. They have asked me for $7500 to be wired for Appraisal and possible Phase 1. I have read in forums that upfront fees are generally big no-no's. Has anyone here closed an actual deal with Elite Funding Group LLC or have any comments on their upfront fee request?

    Thanks,

    Harish.

     this would be typical of a larger commercial transaction.. what you can do is pay the appraiser and the Phase one company direct.. its usually done that way.

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  • Harish Ananthapadmanabhan
    Member since 2018 · 3 posts · 0 votes
    7y

    @Jay Hinrichs Thank you for your feedback! I will make that proposal to the person I am talking and see where it goes. But the person seemed bent on me wire transferring within 3 days, or the deal will no longer be valid. Also, as fyi, the load amount is for $487,500 (I'm not entirely sure if that would fall under a large transaction category).

    0Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    7y
    Originally posted by @Harish Ananthapadmanabhan:

    @Jay Hinrichs Thank you for your feedback! I will make that proposal to the person I am talking and see where it goes. But the person seemed bent on me wire transferring within 3 days, or the deal will no longer be valid. Also, as fyi, the load amount is for $487,500 (I'm not entirely sure if that would fall under a large transaction category).

    Yup  I would say there is a good chance that you front the 7500 and don't get the loan..  if they are pressuring you like this.

    PLEASE watch the American Greed Episode on Remmington Financial  .

    not saying these guys wont or don't fund of course.. but when I do my deals with my banks its common that I pay for the phase one and 

    the appraiser directly..   but who knows right 

    Podcast Guest on Show #222
    JLH Capital Partners51 Review
    WebsiteView Page
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  • Harish Ananthapadmanabhan
    Member since 2018 · 3 posts · 0 votes
    7y

    @Jay Hinrichs Thank you!

    0Reply
  • David Plummer
    Kissimmee, FL · Member since 2017 · 1 post · 0 votes
    5y

    Before going forward, I have info you must have. Its not good.

    0Reply
  • Rodney Davis
    Member since 2022 · 32 posts · 4 votes
    1y

    Hi is there any update on working with this company: Murthy Chintalapati at Elite Financing LLC

    0Reply
  • Will Wang
    Member since 2025 · 1 post · 0 votes
    1y

    I also got in touch with  Murthy Chintalapati, seems like a scam. If you click at the bottom a lot of their links just take you back to the top of their page. Their pictures of the leadership team is sketchy as well. 

    0Reply
  • Jacqueline Wright
    Lender · Nashville TN, USA · Member since 2024 · 142 posts · 30 votes
    1y

    It seems you're considering Elite Funding Group LLC for funding a project, and you're seeking feedback from others who have worked with them. Here's a general approach you can take when evaluating lenders like this one:

    1. Ask for References:
    If you haven't already, request references from other clients who have worked with them. This can give you an idea of their reputation and reliability.

    2. Research Reviews:
    While you mentioned not finding much online, try checking specialized real estate forums, Google reviews, or social media groups. Sometimes you can find firsthand experiences that don't show up immediately in basic searches.

    3. Terms and Transparency:
    Evaluate their loan terms carefully. Are they offering competitive rates and terms compared to other lenders in your area? Ensure you fully understand the fees, interest rates, and any potential prepayment penalties.

    4. Validate their Legitimacy:
    Ensure the company is properly licensed and regulated, particularly if you're working with private lenders. You can check with the Better Business Bureau (BBB), your state’s department of business oversight, or your local real estate community.

    5. Small-Scale Testing:
    If you're uncertain about diving into a larger project, you might want to test them with a smaller loan to see how they handle the process. This could give you more insight into their professionalism and reliability.

    Would you like help with crafting your questions for them or diving deeper into any of these points?

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