All Forum Posts by: David Li

I dealt with them when they were 5 arch. Delays for months for closing when seller and I was ready to close. Cost me thousands. Don't let that happen to you.

I closed a deal with them when they were called 5 Arch. It was possibly the worst experience I had ever faced. Seller and I were ready to close but had to wait for months for 5 Arch to their stuff together. Loss a bit of money due to having to constantly push the close date. My agent and I agreed that that was a terrible experience. YMMV

I cannot describe how disappointed I am of the service of 5 Arch funding. 6/21 was suppose to be the closing date for the house. However, this lender is not ready even though they ensured me that they would be completed two days before the closing. The day before closing, they told me that they were shortstaffed. Today they are still asking for documents from me. This experience was hard than getting a loan from the bank; even though 5 arch suppose to be a private lender. I am afriad that due to their incompetence, I will be losing my security deposit.

DO NOT DO BUSINESS WITH THEM!

I cannot describe how disappointed I am of the service of 5 Arch funding. 6/21 was suppose to be the closing date for the house. However, this lender is not ready even though they ensured me that they would be completed two days before the closing. The day before closing, they told me that they were shortstaffed. Today they are still asking for documents from me. This experience was hard than getting a loan from the bank; even though 5 arch suppose to be a private lender. I am afriad that due to their incompetence, I will be losing my security deposit.

DO NOT DO BUSINESS WITH THEM!

Investment Info:

Other buy & hold investment.

Purchase price: $385,000
Cash invested: $150,000

This was my first Condo.

How did you finance this deal?

Mortgage