Realtor · Austin, TX · Member since 2019 · 4 posts · 0 votes
Hey y'all. I just came across this lender, Rapid Funding Solution based out of Overland Park, KS.
Does anybody have any experience with them? They seem like a newer company, and just trying to see if they're legit. They're lending programs are pretty competitive.
I was just asked abut them from an associate. It looks like they have "affiliates" and from my experience the associates at least do not seem to know what they are doing. They were telling my associate that they could get him funded where the deal is not fundable at all.
I had someone reach out to me also from Rapid Funding Solutions. The "contract" affiliate was able to answer my initial questions but I'm still not 100% sure they are legit. Although I'm closer than I was because I have spent a few hours researching them. I, like you I'm sure, don't want to get a deal tied up in a scam or problem vendor.
No they were telling my client that they were able to finance his project in Canada. The project was in a remote location and even when the world was not mad there would hve been a 10% chance any lender would do it. I told my client his broker was full of it and they have yet to provide him with anything. It has been over 6 weeks.
I want to be clear it is their “broker” who does not know what he is doing. I can’t say anything about the company except their training seems to be lacking
@Adah N. Haven't had any additional dealings with them. By the looks of this thread, doesn't sound like anybody has had any concrete experiences with them yet.
I was also contacted by this company. The person who reached out to me refuses to let me interact with the broker directly. In addition, during our conversations, my initial point of contact's email has changed. In these circumstances, I'm going to trust my gut instincts and probably not get involved. They had assured me they use a title agency that holds the money in escrow, but filling out an application with this company with my social security number and other vital info is what scares me the most. They could be luring me in for that info and then hack me.
Can anyone refer a reputable funding company they have used in the past?
Hello we are an actual company yes. We are a brokerage as well as correspondent lender in some scenarios and we do also have affiliate members. Our areas of focus on investor deals for fix and flip, rental, and all commercial from $150K - $150MM.
In today's market there is no shortage of investor capital for hard money and long term capital. This week we have seen LTC's return to 85%,90% - 100% LTC / 100% rehab / 70%-75% ARV with rates declining to 8% hard money, 6% on rental acquisitions up to 85% LTV. We can help first-time investors or seasoned investors with a mix of hard money, LOC's, private money, asset-based/no score programs as well.