All Forum Posts by: Joe S.

Are you Interested in meeting other Private & Hard Money Lenders, Creative Finance Investors, Seller Financing Investors and Non Performing Note Investors? 

This is the only conference where everyone involved in paper gets together once per year. Whether you are an investor providing hard money loans, private loans, looking for a DSCR loan, originating seller finance paper, doing creative finance or buying and selling non performing notes. This is the conference for you.

Join us Sept 18-20 in Chandler AZ is the Paper Trail Conference where Private Lenders, Seller Financing specialists and Non Performing Note Investors are getting together to share ideas and network. Learn more at https://Papertrailconference.com

Dude makes a $100k offer on one of my properties. I declined said offer. Dude makes a new offer of $102.5k with a $2.5k seller credit at closing.

I tell dude to F himself.

Fair or Foul?

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.

@Allen Berrebbi, take my comments with a grain of salt, because I am certainly biased here.

First, I agree with Clayton about guru's in general.

But, everything with this scares me.  The link provided goes to a landing page with a form.  No real information about anything.

When you go to her linkedin page, it does not mention anything about her professional achievements; purely sign up for her newsletter or get more info on her courses, of which, she is apparently well versed enough to teach both hotel and self storage investing.  

Trying to take my cynicism out of it, I would consider a course from someone that has real experience to teach. If you are not finding news articles, corporate websites, etc with the guru named, and their linked profile doesn't link to an actual company, I would be skeptical.

Before I would sign up for anything, I would talk to her (or any other guru) to understand first: are they even competent enough to teach what they are, and second: the logistics of the course: is it pre-recorded content or live?  Is it with the actual guru or one of their people?  What access do you have to the actual guru?  How long does that access run?  What are they going to teach you?  What resources will they actually provide?  What outcomes do they anticipate as a result of this course?  Referrals from more than a few students?

And lastly, cost.  A $500 or $1500 course is more likely to be "worth it" than a $25,000.  Based on what I have seen from MOST internet gurus, they are offering very basic, table stakes type in info that they regurgitate from some other guru online who offers it for free.  Not to say there isn't value in consolidating your learning (which is essentially what college is), but any guru will present what they feel is most important.  That info may be very valuable or common sense to you, and you won't know until you pay.

Even as mortgage rates remain relatively stable and housing inventory increases, many prospective homebuyers are still holding back. The latest data shows a 6% drop in mortgage applications last week, signaling ongoing concerns about the economy and job market. Despite slower home price growth and more homes for sale, fears about job security and inflation continue to weigh heavily on consumer confidence. Experts anticipate a modest increase in home sales this year, with stronger recovery expected in 2026 as conditions improve.

What do you think is the biggest factor in keeping buyers on the sidelines right now? 

(article from Inman) 

 I am looking for 1. a person that would go 50/50 profit share on a non-homestead that would be resold out to a flipper or wholesaler in 7 months.  I do all the work, just need an investor. 2. general networking with people in the San Antonio area. I have lots of opportunity and need short term investments until my cash flow turns around. I also want to build relationships with possible partners for the long term. I am NOT a wholesaler. 

I would like to meet in person to see how we could form a symbiotic real estate relationship.