All Forum Posts by: Steve Pollack

@Eric Smith, my company, Anchor Loans, does lend in Chicago. Our minimum loan amount is $50k, that includes purchase and rehab costs however. Free feel to check out our website or message me, and we could get you in touch with Alex to discuss any needs you may have.

Hi Mike Harris. I’m the CEO of Anchor, and I am disappointed and surprised to hear about your negative perception of Anchor as described in your review. I have thoroughly reviewed the file regarding your loan application – including notes from emails, phone calls and texts. I feel obligated to point out that your post appears to be based upon your reaction to not getting everything you wanted as opposed to the facts of what actually happened with your loan application. Without going into those details here, the fact is that Anchor has been in business for more than 20 years, and over 85% of our monthly originations are made to repeat borrowers – obviously happy with Anchor to give us reoccurring business. That remarkable 85% statistic is a product of many things, including (1) the fact that at all times Anchor is committed to transparency and therefore all terms are disclosed up front so that our clients’ valuable time is never wasted, and (2) Anchor’s 20 year track record of providing personalized and outstanding customer service to each and every one of its clients. We always have been and continue to be committed to helping our clients achieve their business goals, however we all only succeed when the process is mutually beneficial. I wish you the best in all future endeavors.

Thank you everyone for the replies. I will be sure to forward this information along to others in the community. 

@Shawn Ward , all of those steps are vital to starting out. 2 and 4 stick out to me the most. Wanting to learn and being patient are 2 attributes I have seen in successful newcomers. 

@JD Martin  : It's true, many people see the shows on HGTV and think that the process is easy and all fun, no obstacles. 

@Susan K., Agreed, the process always costs more than you think it will. and @Chris T. Always add more time than expected! 

@Benjamin Ervin Couldn't agree more. While all steps are necessary for being successful, at some point, taking action is the only way to learn best. 

Thanks everyone! 

I've been in the industry for 30+ years and I've accumulated some valuable knowledge, but I'd like a fresh perspective from the Bigger Pockets community. 

If you could give one piece of advice to a new house flipper, what would it be?

Thanks,