Rain City Capital Bewertungen 36

Do Not Do It. Stay AWAY!! Run Away!! They are forcing me to sign an automatic payment agreement the day after I signed my paperwork completing my refi. There is no right to recission on a non-owner-occupied property. Rain City said sign or else they would not close my refinance on the house that they are the hard money lender on, 12% interest only into a 30-Year-fixed at 6.625 %. I have no lates and no missed payments and a day after the fact of me signing they want to spring this on me. I was never told about it, and it was not included in the closing packet of documents. I was told several times by the loan consultant that he would remove his fees. I looked up yesterday and his fees were right there. I have never had to bring $11,600 to the closing table on a $254k hard money loan, 77% LTV, on a no-cash-out rate and term refi. Another surprise was the Five-Year Prepayment Penalty. I have seen lots of three-year PPP but never a 5-year one that diminishes by 1% every year until the five years is up. All in all, they are a suspect lender that has some sketchy requirements. They wanted me to call someone at Zillow and get my listing removed. I told them, neither myself nor my agent can control another commercial entity. The MLS is something different but Zillow? These guys are just out here to rip people off. STAY AWAY!!! They will nickel and dime you to death until you lose all hope of leaving the table with any equity or money.

I had a very disappointing experience with this company during a commercial home equity loan process. Key information and terms were misleading and misrepresented statements that later proved to be inaccurate. Sadly, Ike Ukasoanya (Mooresville) and his assistant (Patrick) never showed up to the closing. The connection and conspiracy with the the bank called PHH Mortgage has been horrific. I would never recommend their services to anyone!

Unfortunately, this is the first time I am writing a negative review but also the first time I lost 20k because of a business. Investors please be very cautious if you are going to proceed with Rain City Capital. Long story short the company denied my loan on the day of closing. First they told me on the day of closing that they worried about exit strategy even though all the numbers plus appraisals met their minimum thresholds. I wad told for 3 months everything looked great. Then I was told I may need to put more money down (which is was not happy with but was willing to do it if needed be) then I was told they wouldn't loan because of where the property was and it did not match their "demographics". I understand they are free to loan to whomever but I could have been told the property did not match their "demographics" in February when I sent the info. For the past three months I have sent everything they needed and on the day of closing they do this with no care in the world. I am very frustrated with the professionalism of this company and if you do decide to work with them please triple check everything so you do not lose your earnest money.

Shameful and dishonest! I approached Rain City for a fix and flip loan and made it abundantly clear I had a bankruptcy from early 2023. I was assured that my bankruptcy was not an issue as they are an asset-based lender. When I was ready to make my $5,000 earnest money deposit (EMD) on a home, I reached out to Branden with Rain City again to get assurance the bankruptcy was not a problem. He assured me it was not. I made the EMD deposit only to learn when getting ready to close I was denied funding from Rain City because of my BK and resulting in me losing my $5,000 EMD.

What type of business conducts themselves in this manner? They should have their license revoked! I will be reaching out to any and all agencies that regulate the finance sector to issue complaints.

I recently had the pleasure of working with Adrian Romero at Rain City Capital for a bridge loan on my latest property acquisition. From the outset, Adrian made the entire process not only smooth but impressively quick, which is crucial in the fast-paced real estate investment world.

I truly appreciated the guidance Adrian provided throughout the loan process. It’s clear that he values his clients and goes above and beyond to meet their needs. If you’re looking for a reliable and supportive hard money lender, I highly recommend Adrian Romero and Rain City Capital for your next investment project. Working with him was a fantastic experience, and I look forward to future opportunities to collaborate again.

Have worked with Jordin on a handful of project now. Fast communication and the best prices on Fix/Flip funding in the market.

Chris did an outstanding job at communication and was incredibly fast at coming up with a strategy to help me acquire multiple deals at once. I would recommend Rain Capital and Chris specifically to all my friends and connections.

I was asked for my personal medical history, which is against HIPA Laws and I supplied them and this is their response.
"I apologize you feel that way and to protect myself and my company I think it best you take your loan request somewhere else...

I believed in you and your project but know my guidelines and have to fund a common ground. If you think I am doing something I shouldn't then you shouldn't do business with me.....


AB
Sales Executive
0

________________________________________
From: Jerry Basson
Sent: Friday, August 19, 2022 3:27:17 PM
To:
Subject: RE: Corsicana, TX 75110

I have requested copies from Medical City Frisco, Baylor Scott and White. But albeit you're even requesting this information is a total invasion of privacy, and HIPA Laws, (which you should know, if you already don’t and could result in the cancellation of your license, if applicable), I am sending you what I have."

First time working with Rain City Capital, an investor friend of mine recommended Chris Burdick. We used him and closed our first deal! Thanks to Chris and his team for making things happen as fast as they could! I definitely recommend using Chris at Rain City Capital.

Chris was great to work with. Responsive, available, and quick. He walked me through the whole process of obtaining a loan and then worked on the back end so my tasks were simple and I could close fast.

I have been getting excellent support and guidance from Chris Burdick at Raincity Capital. Their bridge and 30 year loans are great products which helped to expand my real estate business significantly. Since the first time we talked, Chris did a great job understanding my business model and providing the guidance to keep improving it. I am very happy with Chris Burdick and Raincity quality of work, products and customer care.

Rain city does a great job. They have accurate bpo's and appraisals done to protect their investment, which helps protect me from mistakes.

Alex was exceptionally responsive, giving updated guidance as early as possible throughout the underwriting process. Their communication and execution was exactly what was needed to make the deal go smoothly, and they provided the most competitive rate with the best overall fee structure.

Lesa Say with Rain City Capital is a true professional. Honest, kind and very timely! Thank you for helping finance my projects!

Leesa was very helpful and answered all my questions and concerns. I will be doing more projects with them since I had a great experience!I am highly recommend.

Alex Brosy crushed it! He was quick and effective at getting us all dialed in to close on our first loan with Rain City. Any question we had, Alex was always able to deliver an answer. We look forward to working with him and Rain City in the future. Thanks Alex!

Chris Burdick is by far the most amazing Loan Officer, he is always over exceeding our expectations. Chris built immediate rapport with us through his follow up, follow through, immense knowledge of the investment world, being able to look at deals with us and analyze the margins, his integrity-keeping his word and always sending us new investment deals. He always under promises and over delivers. I 100% trust Chris and his team with our portfolio and all future deals. I am grateful for our forever partnership. Thanks Chris and Nicole!

Closing was fast and stress free. Needed to close quickly on a property, and Rain City was there to help. I recommend Rain City to anyone looking for financing on a fixer or rehab.

The process was quick and easy. The communication part was fantastic, everyone responds in a timely manner and gets the job done. Other lenders drag their feet, as if they are doing you a favor, but with these guys and girls at Rain City we closed on a property in 3 days.. Yes, 3 days. The only reason we didn't close in one day, was because of how long the bank took. Cheers to Rain City and Ryan Morell for doing great business!

5 star service