Rental Property Investor · Tallahassee, FL · Member since 2016 · 15 posts · 2 votes
Has anyone used Dennis Westbrook (DWEST ENTERPRISE) out of Diamond Bar CA as a source for funding? He contacted me through email offering 6.5% interest only loans at 100% LTV. Having trouble getting information about the company or his fee requirements. Looking for any additional info.
Same here. Approval was quick without allot of verification which has me skeptical. Did he ask you to send closing cost? Have you spoken with him? Sounds asian but pics are caucasian. idk. Seems to good to be true.
Same here. Approval was quick without allot of verification which has me skeptical. Did he ask you to send closing cost? Have you spoken with him? Sounds asian but pics are caucasian. idk. Seems to good to be true.
I asked for references and he stopped responding to me. It seems like a good deal, I'm just hesitant to tie myself to someone without getting more info first. Anyone have other references for lenders going over 80% LTV for flips?
I just talked to him today and sort of on the fence. They do charge 2 points along with almost $2000 origination fee so about the same as other hard money lenders just less down of 5-10%. Interest rate was low at like 6.5% but will ask for references too before proceeding as have to send all our financials first so hesistant. Not sure that is his real name but said parents were from England and Germany but if private lender then won't have a big footprint to track so will let ya'll know if I find out anything more.
I would be very cautions on that one. Hard money and private money is not that cheap. Don't give him a dime up front and I wouldn't give him any personal info.
Yeah I won't but he at least sounded better than a Thomas Wenck who also emailed but neither was solicited. Get the feeling may be money laundering from other countries if they do pay but neither asked for money up front just all the bank info so paused to look both up which was difficult. Thnks!
If your lender isn't being upfront about costs, how the system works, what to expect, references, etc be careful. Most lenders would love for you to speak with their prior borrowers (at least good ones). A good lender would also want you to know about all the ins and outs before getting into a loan because surprises always lead to conflict. Hope y'all were able to find a good one out there.
it's a scam. If you see the people that said used their services their profiles were all made around the same time. Also I looked into this today and contacted the Real Dennis Westbrook. he was unaware of what was going on. I was referred to this lender off a private lender listed on myhousedeals.com.
@Thomas Loch I actually met with Dennis Westbrook before i was convinced of his deals and i had a successful funding with him. I don't know much about trying to damage his image on saying what is never true. If you had a deal with him and was not successful it would be best to report to the appropraite authorities but if you've not done a deal with him, then you are wrong to lie about this lender.
I have had experiences with fake lenders, brokers and was almost ripped off but someone claiming to be a lender, but Mr. Westbrook is the real deal that i can attest for.