Much more accurate. Thank you for clarifying. Yes, I heard the same as you about Remington. You must understand, however, that to the borrower, third party fees are still fees, still money out of pocket. When they hear all these brokers saying that real lenders do not charge fees, that often makes them walk away from a good transaction with a solid lender who is expecting the borrower to cover certain pertinent costs upfront. As a former lender, it is an absolute fact that borrowers have to come out of pocket in order to get the transaction completed and when people say otherwise, it is very bothersome because it makes borrowers think that those charging for necessary aspects of the transaction are crooks when in reality they want the deal to work just as much as the buyer does.
Regarding Kennedy... how can you be so sure?
I've run into more than one sponsor who was taken to the cleaners by Kennedy. I used to do a lot of golf course loans and because they were so specialized, owners were desperate to find someone to step up and finance their properties. We're not talking about small change here either. The worst I ran into was in Mississippi where a developer sent Kennedy $250,000 in "fees" and after their hack-appraiser left, he never heard from them again.
NEVER PAY UP FRONT FEES !!!!!!!
All the Engagement Letters (and LOIs) I've ever read or created myself as a direct lender spelled out costs and fees very clearly. Typically, a sponsor will be required to pay for an MAI Appraisal, Phase One Environmental Report and Market Study. New construction will add to that but not much. HUD collects Application and Inspection Fees, also due with the signed and returned Engagement Letter (or LOI).
I hope you are enjoying your week? Lets get back to financing and closing more deals now!
Just funded a $146,000 renovation loan in Pasadena, California. If you are in need of rehab funds, Fix and flip, personal loans, capital start up loans, consolidation loans, bridge loans, farm loans, real estate loans, I will go up to 70% of completed value. Fast funding, as little as 7 to 10 days, At Joe private lending we offer a national wide lending.
If you are interested in closing a deal in the next 6-10 days do not hesitate to make contact via email on firstname.lastname@example.org or call, text or leave a voicemail on (775) 624-3150 and will would respond with more information.
Only serious people please!!! No time wasters!!! We are helping clients nationwide to achieve their financing needs!
Tel#: (775) 624-3150
David Lipp is operating a scam. I contacted David through this site. David has a business license and seemed to check out. After a few weeks of talk, David said I qualified for a loan. He stated that I needed $1953 in Origination Fees which had to be paid before the loan would fund. He had me wire the money to a woman in Florida. He stated that once the fees were paid, the loan would be funded within 24 hours. It came time for the loan to fund, David sent me a message stating that he went to the bank to do the transfer and the bank said I had to pay PPI Insurance on the loan before it would transfer. He stated that the amount I had to pay for insurance was $17,800. I refused to pay that ludicrous amount so he said he would pay half of it so I "Only had to pay $8900". I still said this is way too much. After a couple days David came back and said he had raised $15,000 towards my insurance. I said "Great! since you said I only had to pay $8900 of it, then we are good" David said no you have to pay the $17,800 but he would subtract the $15,000 so I had to come up with $2800. At this point, I told David that the fees are too high and I wanted to cancel the loan and refund my fees per our contract. David has since given me the run around and ignored my messages. When I confront him, he gets very nasty with me. He first told me I would get my refund in 24 hours. By the last time he promised the refund, he told me it would be 7 days. The 7th day was over last Weds and I still have not seen a refund. I track all of my correspondence and he has read all of my messages but fails to respond. I have researched David Lipp and found many names and businesses associated with him.
The following is a list of businesses associated with David Lipp: David & David, LLC, David Lipp, LLC, Grubb & Ellis, 4741 Charleston Aquisitions, LLC, Ventura Desert, LLC, Roc 1, LLC, Vegas Valley Partners, LLC, VVP Gibson, LLC, VVP Olsen, LLC, Swecker & Lipp Tenaya Azure, LLC (property), Gibson Land, LLC, Annallen, LLC, Beesley, LLC, Benjamin Millis, LLC, Lambeau, LLC, Millis Nellis LLC, Tenaya Partners LLC, VVP Ann LLC, Integrated Financial Associates, Millis Properties LLC, Olsen Land Development LLC, Prudent Ventures LLC, Milton West LLC, Swecker & Company. These companies have been found to be directly related to David Lipp. There are also another 30 or so companies potentially connected.
The following is a list of known associates of David Lipp. Most are listed on businesses with Mr Lipp: Harry Hoover Hall, Dale Condra, Warren Condra, Collin Hart, Michael Swecker, Ben Millis, Mark Coleman, Thomas E Lea, Chris Beets, W. Larry Swecker, David T Ting.
I have approximately 200 pages of evidence regarding the fraud committed by David Lipp. I have reported David Lipp to the BBB and submitted my evidence. My lawyer is also drawing up paperwork against Mr Lipp and any associates. Be wary of any of his associates as some appear to have direct knowledge of David Lipps scam and some of these names are potentially Mr Lipps other names.
Yes, I was naive and was scammed by 2 individuals from this board. I did check business licenses and such. Hopefully, this will help others not to be scammed by these people.