Kellens Loan Funding - anybody ever work with them?

Question

I got word of a private/hard lender with good rates. I tried to research them and I found some things that make them feel legit, they've been around for a few years supposedly. But I would like to find someone that has actually worked with them and get a loan funded by them to know how the experience went and to validate their business. They are based in Denver so with that also being the home of Bigger Pockets, I expect there being someone that has worked with them or heard to stay away from them. Any insight would be appreciated. I'm trying to grow my business and having a great private/hard lender like this with reasonable rates would be a great benefit.

George Despotopoulos · Answer

@Don Spafford what attracted you to this particular hard money lender? If they're offering terms that work for you but don't seem to be offered by another hard money lender, well then it's usually too good to be true. A lot of hard money  lenders market terms in attempt to capture leads. What they're advertising is usually not what you'll end up getting. I'd be wary of an outlier in the sense of terms being offered in an economy like this.

Don Spafford · Answer

@George Despotopoulos It was one that somebody else had come across and mentioned them to me. So I was trying to do some due diligence first and ask around and investigate them. But yes, you are correct about when it seems too good to be true they are probably not legit. Unfortunately that is our world these days.

Don Spafford · Answer

@Danny Haddad Unfortunately, no. I have not received any responses from anyone. I have contacted the company by email to ask some questions and their responses have been very vague. Not what I would expect from a service provider looking to get more business. I haven't had the opportunity yet to call them to see how they respond over the phone. If you do business with them, please come back to this thread and tell us about your experience so that others looking to find out will know how it went with you. If you got funded, if it was as easy as they say, what rates you got, etc. Thanks!

Don Spafford · Answer

@Sochima Eze I agree. I did a search for them with the state of CO and the only thing I recall that seemed legit was that the business was registered some time ago, maybe 2014, which makes me think if they are still operating maybe they are legit if they haven't been closed down yet. But at the same time they may operate any actual business under a different name and keep the scheme going. Not sure, but either way I don't feel comfortable with how they operate and don't plan to do business with them at least until I speak with some actual users of them that have had a good experience. Which is why I posted this here, and so far, nobody that has worked with them have spoken up.

Sochima Eze · Answer

@Don Spafford I can concur with this. Emails with them are very vague and nothing like with other lenders. No questions of property address, type, or talk of their lending practice. The testimonials on their page seem bogus as well. Everything is dated from 2014 and one of the coming names (Idea Inc,” indicates its located in Florida but a quick search shows its actually based in California.

I could be wrong, but my gut is telling me scam.

George Despotopoulos · Answer

@Don Spafford I'd speak to a reputable lender or a few of them and get a sense of what is market terms.

Danny Haddad · Answer

@Don Spafford

Any luck getting help with this?

Maybe privately?

I wanna use them also but don’t want to lose the $3000 origination fee if they’re not legit.

Kellens Loan Funding - anybody ever work with them?

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