Hi Friends!

After a very negative, unprofessional phone call this morning with a "lender" that I was very excited to begin working with I have decided to add a tab on Real Estate Finance where all of you can comment with your own bad experiences, reviews, and other input on which people and finance companies to AVOID! Let's help one another with advice on which companies give bad service, scam Borrowers, or are just plain rude for no reason! Feel free to comment below. Your input will help others know who to use, and who to avoid!

On the flipside, if you have a great experience with a lender or mortgage broker, a loan well done, funding well before closing date, a knowledgeable broker that took great care of you... Please leave them a POSITIVE REVIEW right here!

Let's let others know who they should deal with and who to avoid!


You need to be a member of Real Estate Finance to add comments!

Join Real Estate Finance

Comment by Admin on January 27, 2024 at 8:52pm

I agree with Gregory... If anyone offers "guaranteed funding" they are a scam or at the least a joke and you should run the other way.

There are also some fantastic lenders and brokers on this website. I was able to get a small multifamily deal funded for one of our members last week and had a great experience with a wonderful lender. Unfortunately I cannot give that company a positive review on here because I am now brokering loans myself and don't want to give away my funding sources or I will be out of business. Trust me when I say there are just as many good lenders and brokers as there are bad ones. There are many good people in this business. If you have a great experience please tell us about it, especially if you are a real estate investor (or if your great experience was with me hahaha!).

Thanks for reading and using this website friends!

Comment by Dr G on January 2, 2024 at 11:57am

Do not waste your time with anyone offering "guaranteed" financing; especially when they send you counterfeit proof of funds documents.

Comment by Dr G on November 27, 2023 at 8:00am

Be careful not to waste your valuable time with anyone claiming to be a veteran of the entertainment industry wanting to build a massive studio complex on swamp land in rural Florida.  Same deal has been circulating to many of us for over two years now. 

You will likely be yelled at via email and accused of being a thief when they realize that the only free lunch in this world is the cheese in the mouse trap. 

Comment by Mike Lewis on October 12, 2023 at 1:47pm

Adam Cohen of Saxon Spencer deleted his LinkedIn profile after he was called out for being a thief. Now he posts as Fiona Lavender, but all liks lead to Adam Cohen.

He's going to jail eventually.

Just beware. Adam Cohen and Saxon Spencer are a joke and thieves.

Comment by Dana Korosi on October 11, 2023 at 2:07pm

I was introduced to an alternative/private ,lender by another broker as we were looking to finance a tough deal: foreign national, bridge loan, with some hair on the deal. After sending him the overview and selected financials, he issued a term sheet that included a "due diligence" fee of several thousand dollars. We reviewed the term sheet with our prospect, they wired the fee and we then waited several more days before receiving a list of additional documentation. Again, several days, actually weeks, go by with no word from the "lender". I place a call, get voicemail and then a return email with the message that we would be hearing from one of the associates in the office to order and appraisal.Never heard from the associate. Place another call. Voicemail. After another week or so, a call is set with the lender who I finally speak with. He indicates that his staff will review and get back to me. Another week or two without a call or email. I place several more calls/emails and nothing. Crickets. I finally determine that despite the lenders website extolling their funded deals (which were somewhat dated), this lender is likely a fraud.

After discussing with my client, I email our request to return the fee as we never received any follow up discussions on the deal, no appraisal request. Nada. No reply. A second email goes out with the request for returned funds. Still nothing. Never heard from this group nor did they ever return the funds.

The "lender"; Saxon Spencer Capital. New York.  Adam Cohen. Beware....Stay away.......

Comment by Eloise Romo on October 11, 2023 at 10:35am

I think this is a great idea and a great way to help each other.

© 2024   Created by Admin.   Powered by

Badges  |  Report an Issue  |  Terms of Service