All Forum Posts by: Bonnie Anglin

They advertise in the Marketplace forum - offer an annual 10% return on investments of $50k+  Just curious to hear about others' experience with them. Thank you. 

 Was it hard to find renters for your place? How big is it - eg 2/1 etc?

 Hi Al, 

I'd like to attend but your link doesn't work. Could you repost? Thanks! 

@Pavlos Kasselouris

Thanks for contributing to the discussion. I just reported @jerry mike and suggest you do too. He shouldn't be on here trying to scam people. This forum is for legit real estate business. 

Thanks Stephanie. 

Steven Sill was the one from Big Smiles who emailed me. Earlier today I found some scam alert online regarding Bernie Motta who referred me to Steven via BP:

https://www.scamwarners.com/forum/viewtopic.php?f=...

Interestingly, Bernie who had a profile on BP as of yesterday, and about 15 colleagues including myself, has since disappeared. I flagged his profile last night. That either scared him or BP admin acts fast. 

I did also find this forum thread through BP:

https://www.biggerpockets.com/forums/92/topics/190...

I'm loving this "eyes on the street" culture that BP has going on. I do feel safer. 

What about Bernie Motta, who contacted my from Blue Sky Lending LC? Does he work for the real company or the imposter? 

Bernie referred me to Steven Sill who works for Big Smiles Lending Company in Pemberton, NJ. Steven offered me a loan at 2% before I even filled out an application and aid they wouldn't need m credit report or score. 

Hi there fellow BP'ers, 

I'm wondering if anyone's had any experience with a REI lending company called Big Smiles Lending Co. out of Pemberton, NJ?

Someone from BP referred me to them and then they got in touch with me. Before I even filled out a loan application with them, or gave them my credit scores/reports they offered me very favorable terms. TGTBT?

thanks!

@Anthony Atyeo  That was a great answer - thanks for your input! 

@Stefanie Willie-Bonglo I'm exploring the same option for a REI LLC that I plan to start. They charge a 10% success fee up front and then there is interest after the first 6-12 months. These are essentially business credit cards. If you keep your balance at 50% of your credit line, once interest is about to kick in, you transfer the balance to the other half of your credit line and re-set the interest clock so you remain interest free for another 6-12 months. If course they charge a fee for each balance transfer just like a regular credit card.

Did you wind up going this route? Did you find out more about it from others? 

What if the LLC has just been established and has no track record, sales or profits? Would it still be eligible for a business line of credit/business credit cards from an established bank? Or does one have to pursue, in this instance, a business line of credit through some of these other lending companies?

Also, do the banks charge success fees and if so, what is an acceptable %?