Private Money - Posted by Kurt

Posted by Bob Beckman on March 11, 2002 at 07:58:45:

Greg,
I have no desire to argue with you, but never once did I state or imply that credit doesn’t matter to me. In fact, my website (www.rehabfunding.com) clearly lays out what I need for my underwriting decisions. As far as me being a hard money lender, I absolutely am. If you want a copy of an article that will better explain what a hard money lender is, what defines them, and what their role is, feel free to e-mail me at bobbeckman@rehabfunding.com, and I will send it to you. You would probably find it pretty informative. As far as your credit situation, I’m pleased that things have improved for you since we had spoken. Obviously at the time, I felt the need to decline doing business together. It’s clear that I did upset you, and that was not my intention. If you were local to Rehab Funding, or lived in a non-judicial state, I might be more tempted to deal with C&D credit situations, but this is not how my company is set up. That’s okay, no company can work with all situations. My point from the beginning is that the people that qualify for my rehab loan programs have all been very happy, and that’s why you don’t read complaints from people that have used my service, ever, on this website, and why I would furnish a long list of happy customers upon request.
I truly wish you much success with all of your real estate transactions, and I look forward to reading of your successes.
Thanks,
Bob Beckman
Rehab Funding

Private Money - Posted by Kurt

Posted by Kurt on March 09, 2002 at 19:37:49:

Anybody had any experience with rehabfunding.com for hard money?

Kurt…

Re: Private Money - Posted by Bob Beckman

Posted by Bob Beckman on March 09, 2002 at 20:42:53:

Hi Kurt,
The best way to find out about someone’s service is to talk to those that have actually used it, so if you like, please contact me and I will be happy to provide as many references as you like. You can ask them any question that you like. Always remember that those that haven’t used Rehab Funding are just guessing.
Good luck,
Bob Beckman
Rehab Funding
www.rehabfunding.com
(610)667-9939

Re: Private Money - Posted by brad

Posted by brad on March 09, 2002 at 19:57:17:

i checked them out and spoke to the gentleman over the phone.

they are much more strict in terms of credit and property as opposed to hard money lenders that i currently deal w/.

my perception of them wasnt all that favorable

Re: Private Money - Posted by brad

Posted by brad on March 09, 2002 at 21:56:51:

just guessing,mmmmmm NO! I spoke w/ you at 2 seperate times and your credit requirements are the same or maybe even a little more strict as the conventional banks that i deal w/ and they offer a much lower percent, a longer balloon, and 2 points upfront…

good luck w/ your advertising!

brad

Re: Private Money - Posted by Bob Beckman

Posted by Bob Beckman on March 10, 2002 at 23:40:17:

Brad, Does your bank settle within two weeks of your signing a sales agreement? Do they fund 100% of the sales price and 100% of the repair costs? Do they offer a Six Month-No Pay Plan? Also, I assume that the bank that you use will make you use your personal assets as collateral, you should remember that I don’t require this, only the property that you are buying. Anyway, I wish you well, and my point remains the same, if you want to know the true value of Rehab Funding, you should speak to people that have used it, and I will be happy to provide as many referrals as you could possibly want.
Good luck,
Bob Beckman
Rehab Funding

i agree w/ brad - Posted by michelle

Posted by michelle on March 10, 2002 at 21:10:22:

nt

Re: VERY TRUE!(nt) - Posted by GregNY

Posted by GregNY on March 10, 2002 at 16:34:35:

.

Re: Private Money - Posted by GregNY

Posted by GregNY on March 11, 2002 at 24:19:41:

For those with bad credit, what do you require?

Let people know, I know, how much in escrow?

GregNY
-nuff said! Holla!

Re: Private Money - Posted by Bob Beckman

Posted by Bob Beckman on March 11, 2002 at 24:34:47:

Hi Greg,
It is true that I don’t work with people that have poor credit. I don’t mean to offend, it’s just that I want to minimize the risk of default and the long and expensive court fight that comes along with it. I also lend in over twenty five states, and I have no desire to take over properties in various states of disrepair all over the country. I wish you well. There are sources that deal with C and D credit. Good luck to you.
Bob Beckman
Rehab Funding

Re: Private Money - Posted by GregNY

Posted by GregNY on March 11, 2002 at 07:28:47:

From previous posts, you’ve stated that credit is not a
problem (if the numbers work). You haven’t offended me,
my credit is where it should be, now. What offends me is
the fact that people read your banner, your website and
your random posts here on creonline and get the feeling
that you’re a hardmoney lender, which you are not.
Looking at your interest rates and points you should be
lending to everyone. Yes hardmoney should be expensive
because of the risk and speed of funding but if a person
needs good to excellent credit just to qualify for your
programs, it makes no sense to use you.

GregNY