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Quote from @Brenden Stadelman:
@Ned Carey they don't feed you deals; they give you access to software that's like deal machine or prop stream. Still up to me to properly utilize it and get the deals contracted. When they demoed it for me it looked so easy to use and understand, the software was the main reason I decided to take the leap.
Will Investor Edge allow us to see a Demo b4 paying the $4000 to get started
They will, but the demo is basically a white labeled Prop stream. I would not recommend them as their points and interest rates are so high it is extremely hard to find a deal that will work with the 0% down. I work in wholesale in Indianapolis and still struggled to find deals that would even be close. I would highly recommend finding a lender that does 10% of purchase price down because it will ultimately be less expensive for you. I very much regret giving them a chance. It is not a scam, but you will have a very hard time finding a deal that is worth working with them, and frankly you are going to have to find someone that does not understand at all what their property is worth and get them to accept a super lowball offer to make it worth it. even then their points and fees will eat up so much that getting the 10% down loan will have a much much higher profit margin.
Thanks for following up on this thread and sharing your actual experience. Sometimes you have to try something out for yourself because it's hard to sort through all the responses and know what is fact and what is opinion. As a lender myself, I was curious about their upfront fees. It's not unheard of, but I couldn't understand why anyone would want to do that given there are so many other options out there. I still have a hard time understanding how this business model works for them, but perhaps that upfront fee covers for lack of deal flow (?) Anyway, just wanted to say thanks for the follow up and I hope you've found a reliable lender you can work with. If not, I'd be happy to take a look at any future deals you're considering.
No Problem! Glad to share my experience with them. To give a little more detail, I do believe all their cash flow is contingent on them getting you to pay upfront for their program, which I found to be inaccurate and unusable on anything other than a desk top, which I told them I do all my work on a cell phone (first red flag) that they didn’t tell me their property finder isn’t cell phone friendly. I also explained to them multiple times, I save money by being both the contractor and investor on my projects. So a project that would take someone 200k, I can do for 100k because I don’t have to pay for my labor. They didn’t explain to me upfront that they wouldn’t take that into consideration, that every deal had to be ran through, what they thought was a fair market repair cost. Which in a way, is fair, but I believe this is their loop hole to only fund the low hanging fruit deals, and stick people with a bill of 4-7k and a property search app that isn’t that good in the first place.
anyway, I am always looking to connect, dining the next project, and get it funded! I’ll reach out to you. Thanks!
