When you’re interested in buying more properties, renovating new flips, or otherwise expanding your rental industry, there may come a time when you need to investigate hard money loans to fund your business expansion.
Traditional loan structures do not always fit the needs of an entrepreneur; non-traditional lenders can work out for many landlords and property owners. If you’re new to the world of hard money loans, however, it can be hard to understand how to evaluate a lender.
Researching any potential lenders is a must; scams are commonly run by fresh property investors that aren’t yet familiar with that is and what is not normal in a loan. Instead of risking a scam, it’s important to turn to a reliable lender.
Today, you can find out everything you need to know in this Conventus LLC review. With this information, you can make the final call about whether or not this company aligns with your funding needs.
Table Of Contents
Conventus Lending Rating
Conventus earns a ⅘ star rating for the services they provide to landlords and property investors.
Conventus LLC Review
Conventus Lending has earned a ⅘ star rating in today’s review because they provide a plethora of loan services in a fast, efficient way, but they still have a few drawbacks that make them the wrong choice for some investors. Their setup, teamwork, and support are out of this world, but there are many states they do not work in at this time.
Still, their overall business model is competitive and open to a variety of investment needs. From rehab funding to owner-occupied loans, there is a loan for nearly every situation in their playbook.
Pros:
- Simple online draws system
- Fast turnaround times
- Supportive team
- Open to negotiations
- Variety of loans types
Cons:
- Only available in 21 states
- Mid-range fees for a hard money lender
Conventus Lending Product Analysis
Before we get into the specifics of what Conventus offers, it’s important to make sure you are aware of what they do. Conventus lending is an asset-based lending company that offers a variety of loan solutions to investors and property owners. Their hard money deals are favored for their fast turnarounds and fair turns.
If you aren’t yet familiar with how hard money loans work, this video gives a great foundation that will help you to better understand what Conventus is offering:
Variety Of Loan Types
Conventus has a wide range of loan types available:
- Acquisition
- Rehab
- Bridge
- Owner-occupied
- Rental
- Junior liens
- Partnership buyouts
In addition to those loan types, the LLC also offers customized loans based on your need. If you aren’t sure what type of loan will fit your business needs, their team will talk with you to figure out a solution that suits both parties.
Fast, Comprehensive Service
The team at Conventus suggests the following process when you are considering their services:
- Contact them about your needs; they’ll give you a conditional loan approval almost immediately.
- Fill out the complete loan application. They will process it and underwrite your loan terms.
- Standard loans are funded in as few as five business days.
This type of fast, transparent service is not easily found in the loan industry, and they are very upfront about the terms and conditions of their services. There are no hidden fees, and the terms of the loan can be negotiated to some extent as well.
Conclusion
From what this Conventus LLC review has found, this asset-based loan company does a great job of providing fast and transparent services to their lendees. Their services are flexible and varied to fit the specific needs your business has. If you aren’t sure that their programs will fit what you are looking for, use their contact form to find out.
To learn more about the secrets of securing the best loans in real estate, check out this episode on the podcast featuring Mike Anderson.