Hard Money Brooklyn 59th St, Brooklyn, New York

Hard Money Brooklyn Reviews

4.5 stars based on 19 reviews

Featured Comments:

• R

  RobbieRobb 100

  5.0

  Very Satisfied with Jonathan’s service. My loan took 4 months to close. Everything was black and white. Thank you for the financial relief you have provided for my family and myself. 250k.

• J

  JP Capital

  1.0

  I reached out after reading all the reviews, (which now I'm doubting if they are actually real) and spoke to someone by the name of Jonathan Fisher. Without introducing himself he abruptly asked me for the propery address. I asked him if I could give him an estimation of the location & the characteristic of the home along with the numbers for the flip. He said no and asked for the property address again. As any investor in NYC knows - NYC is a VERY competitive market, where you have to be diligent about who you give or disclose property addresses to as they may just want to go around you and steal your deal. TIP: An experienced Hardmoney lender should be able to provide you with rough LTV's (loan to value ratio) without you disclosing the property address based on the following statement: "The property I have under contract is in Harlem NY, it's a 5 bed 2 ba two family house with basement. 3 levels. I have it under contract for X & it needs X amount in rehab and the ARV is X base on comps" Again- With the above statement, any experienced Hardmoney lender should be able to give you his financing terms. Here are the real numbers for the deal I was presenting to Jonathan. Type: Single family with full basement in BX (Pelham) Purchase: $300k Rehab: $10k Arv : $550k Zilllow estimate: $395,00 I was asking for 56% of the ARV and was going to put down 10%. Almost all HML lend up to 65% + of the ARV. My deal should had been a no brainer. However, even after disclosing the numbers of the deal Jonathan insisted on getting the property address without giving me any terms. This again was another red flag which at that made me certain that Jonathan was def not an experienced HML or just a predatory investor looking to steal new investors deals. In summary, my advise is the following: Be careful with this lender and make sure YOU DONT give out sensitive information without verifying he is a legit lender who has a product that can actually help you.

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  Response from the owner

  The Guys Credit Is Way To Low for 10 Percent Down. this credit score does not fit with this Program.

• j

  jay guttman

  5.0

  Johnathon is Highly Recommended! Its become a family tradition for all our loans, and none was disappointed! Thank you!

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