Investor · Rockwall, TX · Member since 2015 · 18 posts · 0 votes
hello does any one have been used this hard lender. https://www.fundandgrow.com/? It seems it work as a credit card. Or balloon loan. Someone recomend to me but im old school just to go to the internet and put my information. It seems to be too good to be true. Please any feedback i will appreciate it thanks
I heard about them on the clayton morris podcast and like you guys was a little skeptical. Coming from that guys podcast something had to be serious and real so I began doing some research as well and like you guys have found is an A+ rated company in the BBB. So far I have not found any negative reviews about them and after reading what they are doing with James, they are really working hard for you and that is awesome.
Would you mind sharing how you plan to invest the money you get from them? Also and more important, what is your strategy or how to avoid falling into the trap of acquiring too much debt?
I signed up with them and so far so good. To begin with they are A+ rated by BBB. Their angle is to open a Business Management or Advertising/Marketing LLC for you, then somehow age it to the year you actually began in your real estate business. then through that LLC they apply for Business Credit Cards and get you teaser rates. If you start out with a credit score of 720 or above you can get $50k - 250k of 0% credit cards within weeks or months. These teaser rates last 6 - 18 months.
Actually I'm still doing credit repair with their provider- Kaydem Credit Help- and I haven't gotten to apply for the business credit yet. It's taking much longer than I expected but I think it's worth it. The 2008 real estate crash left me with some foreclosure history. Two of the credit bureaus don't want to erase anything but the third already erased a couple of dings (probably worth 15 points each). Kaydem has told me that they will keep going back and re-challenging those credit dings over and over for different reasons for up to a year. There's a good chance the credit bureaus will give in before we do and clear off at least some of my negative history, so it's worth the wait.
In the mean time I receive offers almost every day of the week from credit card companies to sign up for 0% credit cards for personal credit and fewer offers for credit against my business. Fund and Grow has asked me to not take out any loans while I am in credit repair so my credit score will grow as high as possible. So I'm between a rock and a hard place. I could use the business credit right now if I had it, but I think it's more important to wait and get my credit history cleaned up permanently. Also, it will be worth it to get business credit and not have those loans count against my personal credit score. So, I'm still happy with Fund and Grow. Mitch Stephen, an investor out of San Antonio, gave a very strong personal story about how he used the lines of credit they got him to buy and fix houses for several years so I don't doubt they are an honest company. In all my dealings with them so far they have been meticulous in their attentiveness. They still stay in regular contact and keep updated on my situation. They've been around a long time so I don't expect them to disappear. All in all, I'm happy with them.
James Watts thanks for the update, right now I have a score of 750 and they told me I would be great at getting business credit I just wanted to hear it from someone that used them so I don't get scammed.
You're welcome Maurice, but don't let the easy money from Fund and Grow stop you from developing private lenders. when you get over that hump you'll be able to do anything you want.
I heard about them on the clayton morris podcast and like you guys was a little skeptical. Coming from that guys podcast something had to be serious and real so I began doing some research as well and like you guys have found is an A+ rated company in the BBB. So far I have not found any negative reviews about them and after reading what they are doing with James, they are really working hard for you and that is awesome.
Would you mind sharing how you plan to invest the money you get from them? Also and more important, what is your strategy or how to avoid falling into the trap of acquiring too much debt?
Glad to see this thread. I searched for it after my sales call with Marty, which did not go so well. I was hoping to see some good feedback here as I decide whether to go through with the program. Here's my experience with them so far:
After hearing the guy on the Clayton Morris podcast, I understood what the model was, and appreciated how upfront and un-salespitch-y the explanation was. That changed as soon as I signed up for a phone call.
I never got a call, but I did receive 3 VERY sales-pitch-y emails from them, which included the phrase "the money you desperately need," and asked me to call them. I called and left a voicemail. Marty never called back, so I called again after the third form email. Eventually, I connected with Marty. We had a great conversation for about 15 minutes. He explained how it all worked, and it made sense to me. I was ready to take the next step, which I assumed would be to go to the credit consultant and get some specifics on the products they could offer me.
That's where my confidence in him started to slip. Marty started trying to close the deal, asking for my billing address and credit card information, right after mentioning the credit consultant. I still had a lot of questions. At that point, all I knew was that he said I would be able to get 30-80k in the first round, at 0%. I knew that was a 12-month teaser rate, but Marty kept that part out, never mentioning what rates would be after the teaser. I had to ask that question AFTER he tried to charge me $3500 for the service. And the answer was not satisfactory: 9-16%.
So, bottom line, he wanted to charge me for the service when the range of product I might be receiving was $30,000 at 16% (An awful deal: my personal credit card has a $35,000 limit and 12.99% interest), and $80,000 at 9%, something that might actually be worth paying for. That was a huge disappointment. I am very skeptical of a company trying to close a sale before I know what I'm actually getting.
To make me even more cautious, the day after I spent 20 minutes on the phone with him, telling him I wasn't comfortable being charged before I knew what I would actually be getting, and would have to think about it, Marty called again. He left a voicemail as if we had never spoken, saying simply "I have a note on my desk to give you a call." That kind of lack of organization was another red flag for me.
I am happy to hear that they have worked out well for those of you who have gotten in. Did you all have similar experiences with the sales team, though?
I haven't talked to anybody yet, so I can't say whether their customer service is something they could work on. They are definitely selling a product and some salespeople are more aggressive than others or better trained and capable of doing their job than others. I think what we have to worry about are the terms in which they get these 0% line of credits, the time span for those lines of credits (LOC), whether their 60 day money back is legit or not. They have lots of good reviews, but you never know. I'm also skeptical of paying for a service that I haven't received or that would take place in the future, so finding out about their money back warranty would be something to get to.
I can understand their 9-16% interest rate after the 12 months 0% promotion. People get this LOC all the time with their personal credit cards and after the 0% promotional period it goes to the regular variable rate their credit card may have. Apparently they have the ability to get much larger LOC than someone could do by doing it on your own and that's where the premium has to be paid.
I see them as a good opportunity for fix/flip and buying houses where you can implement the BRRRR strategy. It has to be something where you are in and out in less than a year so you can pay back that LOC and take advantage of the 0% interest. I believe the money has to be used very diligently and with a purpose. Otherwise is a teaser to get yourself into a lot of debt and lots of problems.
@Manuel Prado - yes, it's not the actual rates that turned me off. The problem was the range. Like I said, there is a huge difference between 30k at 16% and 80k at 9%.
I did not know about the money-back guarantee. I will have to check into that. That would give me an out if they come back in two weeks with something closer to the worst terms.
Do you mind updating on how your experience with Fund & Grow has been?
How long after signing up did it take to be able to get the credit card funds into your bank account? How difficult is it to get the funds there when you need them? I know the credit can be used as a traditional credit card but I would want to be able to transfer funds to a bank account for cash offers.
What kind of transfer fees are you paying to the credit card company when you do transfer to your bank account?
Hey All I work with Midwest Corporate Credit they charge 10% Success Fee Awesome program. If Your interested in learning more I can PM you my guys info I deal with.
Just wanted to take a second and put up a review of fund and grow. First off I was able to get $37K worth of 0 percent introductory rate credit cards through them. And so far used them for numerous things including repairs on my houses, paying contractors and such. I recently used a credit card to send part of a down payment on a property using Plastiq. Some cards won't allow you to send payments to pay mortgages even through Plastiq. I was going to attempt that to try to use a velocity banking type strategy, but oh well. Anyway main purpose was to help me buy property, and so far it has helped. I worked with Michael Richard at fund and grow. The only part that was a little un-nerving was that we had to create a different business to apply for the cards, because real estate isn't looked as favorably when applying for credit. If you don't currently have a business I guess it doesn't really matter, they'll just create one for you. Overall, they did provide what was expected.
@Steve Oswald, thanks for sharing your experience with Fund & Grow. I'm considering using them for the same purposes but was skeptical. It sounded to good to be true. Can you share any additional information that may help make this decision. Thanks in advance.