All Forum Posts by: Hal Mullins

ANCHOR LOANS – I usually do not post on this forum. Although, in this case, all Bigger Pocket Members, need to be aware of this Hard Money Lender, and their unethical practices.

I am an experienced investor/builder for over 40 years. I received a promotional email from Anchor Loans. I sent in for more information. I received a call back from Rep. Tom Taylor.

Nice guy who seemed experienced enough. We came to an agreement on a loan and terms, that he sent to me. Then I was sent an Official Approval Commitment Letter with the exact terms

Which were acceptable to us, for this deal. I executed my approval on the Commitment Letter and returned it to them to set up Closing. Anchor Loans and Tom Taylor, then just “went dark

On us” for weeks? So unprofessional! So, when they finally returned my call, they stated – “Sorry, they would not be honoring the Commitment Letter they had approved”. Basically,

Knowing, I had canceled all other discussions with all other Lenders, they did the “Bait and Switch Approach”, which only the worst kind of Lenders in this industry try to pull on clients.

They lowered the L/T/V from 75% down to 70%. They even lowered their evaluation of the Property – by $25,000. And after submitting supportive comps to justify the higher value.

They basically stated, “Sorry, they are not willing to honor the original approval”. Of course, we changed to a legit Lender and closed the deal. Anchor Loans has great marketing

Materials and presents a professional image. https://app.anchorloans.com/ Do Not Be Fooled. Just thought I should share, this, knowing, If I knew then, what I know now, about Anchor Loans, I would have saved

A lot of time and a lot of money. Hope this helps. Select Home Solutions Group, Nashville Market.

I am looking for an Investor with Experience, maybe in the Houston Area, that has investment experience after the effects of the Hurricane?  We are trying to get a feel about if it is a Good Idea or Not, and what kind of Issues to be aware of, or strategies that increase chances of success?  

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Hi, I am form Nashville. Anyone knows a mortgage company that offers Stated Income type of loan in Nashville TN / TN area?

We are "vetting" a few deals in the area this Month.  I will reach back out to you, after we qualify them.

After researching, we have found several Hard Money Lenders that will fund Northwest Mississippi Deals.

Thanks for reaching out.

I was looking for some referrals on the Best Mailing Services for "Single Follow-up Letter Mailing Services".   I know Click2Mail does this, but they seem a little high.

Single Letter = When you have a Prospect you connected with and you want to have the Mailing Service, send a specific letter (template style) to them, after you send the Mail Service the needed recipients name and address. Sometimes Letter to include a Contract Offer.

Thanks in Advance, for you feedback.

Out of all the Choices of Foreclosure Websites available, what is the Best, Most Current, Most Inventory of Listings (For Most States)?

Free Site?

Subscription Fee Site?

Adam, 

Thanks for the reply.  We are wanting to receive  from 25% to 35%.  We feel like if we can send a larger quantity of lead referrals to one particular Agent, it would warrant the higher referral fee being paid to us.   We are agents, but do not want to participate in those activities.  (not to compete with them)  Thanks again for your thoughts.

Hal Mullins

Adam or Others,

What is considered an acceptable Referral Fee Percentage/Amount for referrals to Investor Friendly Realtors, that you send deals/properties to them to be listed by them?

Thanks so much for your replies.   I have been out of the Country for the last Month, and am just now getting back "settled in".   I will following up on this replies, this coming week.

Thanks again for your reply and look forward to connecting up.

Hal Mullins