All Forum Posts by: Erik Estrada

 Hello Erik,

This does not look correct, are you sure about what you are sayiN? 15 percent down for new? OKAY. I do not THINK SO. 

Goodnight , 

I’m a fix-and-flip investor based in Los Angeles, CA, and I want to share a disappointing and frustrating experience I had with MoFin Lending, which I hope will help others avoid similar situations.

A few months ago, I was contacted by the founder of MoFin Lending via email. He claimed his company could offer me a better deal than my usual lender. I’ve worked with another private lender for years with no issues,Out of curiosity, I looked them up and saw that their Google reviews were all 5-star — so I decided to give them a shot.

The founder offered me an appealing term: 10% down / 90% LTV, with low points — much better than the 20/80 terms I usually get. I was impressed and decided to move forward with a new property I was purchasing.

Everything went smoothly until 3 days before closing — that's when MoFin told me they could no longer honor the 10/90 structure. They claimed their internal valuation came in $10K lower, so they could only offer 80% LTV.

I was shocked. No other lender I’ve worked with has ever pulled this kind of last-minute change. When I raised my concerns, the founder accused me of "playing games." I wanted to ask — who's really playing games here?

I refused to accept the 80% offer because I felt deceived. I lost $300 in application fees, but thankfully my previous lender was able to close the deal within 2 days and save the transaction.

But it didn’t stop there. I left a negative review on Google to share my experience — and instead of a professional response, MoFin publicly replied with blame. MoFin even rated me as a “difficult client” — seriously? I paid them, not the other way around. I later updated my Google review to make it clear: I’m not here for arguments — your explanation doesn’t change the facts. MoFin clearly couldn’t accept the criticism and retaliated by publicly disclosing my personal information— all because I left a bad review. And from start to finish, not a single word of apology. Their customer service was disrespectful throughout the process.

To be fair, this company is based in New York, and maybe their standards or processes differ from those on the West Coast. But I’ve worked with Easy Street Capital (based in Texas), and never had this kind of issue.

In short: if you're an LA-based investor and receive an unsolicited offer from MoFin Lending promising better terms — proceed with extreme caution. What looks good on paper can fall apart when it matters most.

 Just hoping to save someone else from wasted time, money, and stress.

PS: And if the founder of MoFin sees this post — no explanation is necessary. I’m simply stating the facts. Besides, If you disclose my personal information on this forum in retaliation for my negative review, I will file a complaint with the appropriate financial regulatory authorities.

Over the past few months I have been contacted by hard money lenders inquiring if I need a loan for upcoming projects. I always tell them that I prefer private money as it typically comes with a reduced number of fees and at lower interest rates

it feels as if investors are waking up and realizing that hard money is not attractive 

Hello All, 

I'm looking for resources, a mentor, a lawyer, a class, ect... To help me become a private money lender. Please help! 

Good morning,

I have an accepted LOI for a property in New London, CT, and am looking for a lending partner. The building is 12-units, and the purchase price is $1.2m. I know it's a tough ask, but we're trying to close by the end of the year.

I've been in multifamily real estate for nearly a decade and have bought and sold multiple properties. 

Please reach out if you, or somebody you know, could help out.

Thanks!
Robert.

Is ROI on acquisition, or includes rehab too?

Hi Erik,

No appraisal yet - rehab will take another month and in the past the appraisal was ordered by the lender as part of the refi process.

I'm doing some planning once work is complete as to your point there are a bit of challenges in the market at the moment.

I'm a new flipper and everyone wants to charge me 18-20% down.  I have 830 FICO, but The only hard money lender that seems to work with lower downs and rates is Easy Street Capital.  The reviews for them are very mixed... either really great or really bad.... any input?