Any Experience With Spectrum REI?

1 Reply

I have been looking for solid asset-based lenders (I left my job last year to focus on real estate so I can't get conventional financing). I recently received a call from a rep at Spectrum REI ( Their rates and terms for their 30 year fixed products seem attractive (80% LTV, 5-7%, and 2 points). However, their website is pretty sparse and the only thing I found when I googled them was a negative review on another forum. Has anyone worked with Spectrum REI. Would greatly appreciate any feedback good or bad.

Thank you in advance!

I didn't get any feedback, but figured I'd update this in case someone is looking in the future. 

I took a deal I needed to be funded to Spectrum REI. I asked them for their NMLS number, references, and sample recent deals funded. They said they would get back to me with those, but I haven't heard anything since. Nothing conclusive, but definitely suspicious IMO.

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