All Forum Posts by: Lara Taylor

Has anyone ever had any deals with them and if so what is your experience? I have a deal I am trying to finance and I have been talking to this company. Reason I am hesitant is due to the fees they want up front. 

the name of the company is Kennedy Funding.  Has anyone ever heard of them or had any deals through them?

Hi BP members,

I have been talking with a private investor about investing in my next project. He is wanting me to pay the attorney fees for the contact and documents.  I do not have a problem with that at all and I am willing to pay it. But I have been alittle put off by him. I would like my attorney to handle the fee transfers. The lender would rather I just wire the money to him for him to pay his attorney. With my attorney he would put it in his escrow until the fees are needed to be paid. I contacted the lender and stated that I would be putting the money for the fees I  escrow and he stated that he did not deal with escrow accounts because the last one he dealt with was a fake escrow account? I am not sure why he stated this with my attorney being willing to hold the funds in his escrow? Fishy to yall? 

The land value is there, we have a great purchase price because of knowing the seller. And we would be wanting to do a 50% LTV that would enough to purchase and build.

Helco wouldn't work because of it being raw land and a new construction.  We would are looking for a bridge loan just for the time it would take for construction. 

It would be for a short term bridge loan we would be looking to refinance after a year most likely at the most 2 year.

Hello fellow BP members, 

I have been on a search for a private money for my first deal. When yall where starting out what are your tips on finding one. I have thought about contacting some realtors that I know and also some real estate attorneys and seeing if they know any local lenders. 

Yes I do believe they are a scam, more I read about them the less I feel comfortable.  I really want to do this deal (obviously) but when it sounds to go to be true it most of the time is. 

also just looked up this company, does show one of the larges hard money lenders but also alot of law suits in years (2010-2012)

I emailed back asking on how the money would be applied and they are wanting me to call to make sure I understand how it is done. I do like the idea of a escrow account.  Did not think of that.