Specialist · Rapid City, SD · Member since 2016 · 100 posts · 46 votes
I just off my second call with WCAP Financial Services.
Long story short, the salesman become combative when I questioned their sources of funding. I requested multiple times to get an explanations and clarity of services, which were countered with, "Don't you want funding?"
While I'm still interested in getting more funding, I have a feeling that a service that is solely based on signing me up for credit cards is probably not worth trusting.
Has anyone else had better luck with such services?
this thread is helpful. i saw the ad for WCAP on a BiggerPocket email and am glad that i checked this out first. good to know that their credit source is credit cards. i saw the promise of 50K interest-free and was piqued.
Real Estate Agent · Delray Beach, FL · Member since 2018 · 26 posts · 2 votes
8y
I previously posted and vented on how much of a scam this service is on several threads and under their other trading names. But I continued with the program after speaking to one of their representatives. Great success actually! I just don't have the time to apply for so many credit cards, and to know which companies approve more easily and which don't, which give the 0% fee periods. This was valuable knowledge they brought to the table. This is not a scam, it is just not a service that will work for everyone.
Flipper/Rehabber · Douglasville, GA · Member since 2016 · 83 posts · 63 votes
8y
...and this is why I love BP. Tried and tested results with pure honest for feedback. Thanks everyone for your responses. I saw an ad and wanted to know more. I'm always reviewing creative financing methods but I'll pass.
Talked to Seed Capital/WCAP again and they sorted it out. I was able to get more capital, and now the net interest rate is better. I changed my mind, and ended up going with their services, and was finally able to get the credit I needed. Slice of humble pie, my math wasn't on the level.
My credit score had risen and so I qualified for a much better rate.
Flipper/Rehabber · Buford, GA · Member since 2018 · 27 posts · 5 votes
7y
Dawn P
★★★★★
★★★★★
01/21/2019
Don't Do This People!!!! WCAP can definitely help you get money, but they leave you with a hot credit card mess that may devastate you, and then refuse to return your calls.... Just don't do it!!!!! They affiliate with business scammers!!!!!! They worked closely with scamming businesses such as Sellers Playbook, as a strong affiliate, and this business was then closed by the Federal Trade Commission!!!! I am facing financial ruin because of this scam these two businesses created together. SCAM, SCAM SCAM, SCAM.....RUN LIKE CRAZY FROM WCAP AND ANYTHING LIKE IT PLEASE!!!
Chester, VA · Member since 2018 · 30 posts · 5 votes
7y
I will say @Sean Shapoori, they have been opened for over 5 years, and have only 5 complaints, one of which was resolved. It's easy to post up a bad review and say "Don't trust them!", but the general picture of their BBB profile paints them as a healthy, helpful company.
"At first, the idea of a company getting me 0% interest loans was SUPER sketch. But I'm really glad I made the decision to move forward because now, 50k later in 0% interest loans, I'm finally getting into the real estate investing game. Thanks WCAP for everything."
"Very professional, great personnel, fast email responses to questions. A good service to use to get seed funding and credit cards. I highly recommend WCAP to meet your financial or investment goals. They are very thorough, as well as, a pleasure to work with."
"My experience with WCAP Financial has been stress free and pleasant. Addison, who I have been in communication with on a regular basis has been just wonderful! She has been patient with me through this process being that I was not very educated on how things worked. She returns my emails or phone calls in a timely manner and explains things clearly to me so that I understand what I am doing. I have been pleased from the start in my dealings with WCAP and I would highly recommend this company to anybody I know!"
Rental Property Investor · Maryville, TN · Member since 2018 · 80 posts · 53 votes
7y
The concept is interesting and I've actually talked with them on the phones a couple months ago. It could be a great avenue if you know that you'll be able to pay it off or refinance before the 0% goes away and turns into a huge 18-24% rate.
One thing I had to dig and pry from WCAP was about the 1% fee on what you're actively using from the available monies. They did not mention that over the phone, but I had read about it... so when I asked the guy about it.. he seemed confused as to why I knew the in between the lines info. Still TBD about it.. could be good or could be really ugly.
Since we are in a credit card forum and I am new to Real Estate , I have two questions: what is everyones favorite credit card and do you use credit cards to buy a house or just materials.
Apalachin, NY · Member since 2019 · 11 posts · 3 votes
7y
@AmberCastro for questions like these I recommend checking out Nerdwallet. Personally, I use American Express SimplyCash Plus Business Credit Card, which offers $0 annual fees. Nerdwallet has great commercials for questions and inquires like this as well.
Real Estate Agent · Delray Beach, FL · Member since 2018 · 26 posts · 2 votes
7y
@Amber Castro, I am not a fan of credit cards personally. I have had so many unpleasant experiences with them that I just tend to keep to cheques, bank transfers and cash purchases at this point.
Real Estate Agent · Delray Beach, FL · Member since 2018 · 26 posts · 2 votes
7y
But I do have a card, and for that, I go AMEX. Best of luck finding a card that works for you, but things to look for would be low to 0 annual fees, and a competitive rewards program.
Damascus, OR · Member since 2018 · 20 posts · 6 votes
7y
@Ryan Longhurst i had quite a number of issues with AMEX in the past and their added fees. Have you used other cards? Do you have anything to compare your experience with?
El Campo, TX · Member since 2018 · 15 posts · 0 votes
7y
I love Amex, and have tried several other cards and services to compare. I believe they are the best out there. Check out Nerdwallet, they have some threads on there that compare the cards very thoroughly!
Real Estate Agent · Gandeeville, WV · Member since 2017 · 40 posts · 17 votes
6y
I have tried a few different landlord software suites, and have never been blown away with the results. I will open up Nate's website. Would be nice to support another BP member.