OfflineHey DG Family,
I am in the early stages of entering into a business relationship with Brookview Financial www.brookviewfinancial.com and I'm asking anyone with FIRSTHAND knowledge, i.e., having done business with them yourself, to talk about your experience with Brookview, your impression of the lender, etc.
They do have testimonials on the website; however, those could be written by anyone. I'm trying to conduct some due diligence on them before I take them on as a rehab lending partner.
If anyone out there can offer any comments, it would be much appreciated! Thanks!
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I do not have any firsthand knowledge of Brookview Financial, but here are some outside reviews that may help:
Better Business Bureau rates them as having A+ service: http://www.bbb.org/connecticut/business-reviews/real-estate-loans/brookv...
Here is another thread on BiggerPockets that might help you as well: http://www.biggerpockets.com/forums/92/topics/74750-brookview-financial
Check out the links at the bottom of the page for other discussions about Brookview.
is a red flag, however sometimes there are legitimate fees that they want you to pay first. Still, I think upfront fees is a big flag!
www.tw4homes.com website
https://tvallc.isrefer.com/go/RehabLite/reigirl/ FREE SOFTWARE FOR WHOLESALERS, REHABBERS AND AGENTS! Present professional looking deals to buyers and lenders as well as run your numbers and get the ROI.
Thank you both!
I did see the BBB comments; however, not the thread on BiggerPockets. any and all info I can get to help find any outside opinions is worthwhile, I believe.
As far as the upfront fees go, I'm not a fan either. But, thus far, I do believe they are justified to a point. One is simply an admin-type fee to get an account established, review my needs, and establish the terms of lending (how much, etc.). The activation fee is actually the one that rubs my wrong. The only nullifying factor to THAT is their willingness to credit much of it when a deal is financed with them within 6 months.
At the end of the day, these folks are going to make money on the money they lend. And they are aware of two major facts: 1) banks don't do what they do; and 2) that alone creates their captive audience.
Odds are I will proceed with them sometime in the next few weeks. I have two rehabs going on right now with my own cash that I'd like to get back first.
Thank you both! Thanks in advance to anyone that reads this and contributes! I will post in this thread again when I have an update on my experience with them.
Jake
One way would be to ask for people you can speak to. This will let you know if the testimonials are real or not. Also, when you speak to them ask them if they know anyone else that has used Brookview. If so, see if you can get that persons contact info from them.
http://www.hardmoneyrater.com/
I went through the process with them and was approved for 100k all that was left for me to sign the docs but I decided to back out only because the interest was too high for this particular deal i was working on. It would have ate into my profits too much.
They were very profesional through the whole deal. hope that helps.
Good luck either way you go.
Never EVER give up!!
Richie