JSMedia – When it comes to private lending, reviews of Pangea Mortgage Capital are mixed. While the company offers loans that are tailored for investors, they often don’t live up to the hype that they promise. Some people say that the loan process is too complicated, while others claim it’s easy and quick. There is a difference, however, between a private lending company that offers loans that are flexible and affordable and one that doesn’t offer them the best terms.
While Pangea has some positive points, it is not without flaws. While it has been in business for a decade, its recent growth rate has been a bit too shady for investors. Its revenue has grown from $500,000 in 2009 to $60 million in 2013, making it one of the fastest growing companies in the country. While most of its investors remain in the shadows, there’s a lot of mystery surrounding its empire. That’s because it’s difficult to confirm that it’s really a company. And because their buildings are owned by hundreds of shell LLCs with alphanumeric titles, it’s difficult to know if they’re really Pangea.
Pangea Mortgage Capital is an Illinois-based private money lender that offers funding to real estate investors throughout the country. The company specializes in fix and flip loans and hard money bridge loans. It offers fixed rates from 7.99% to 25%. The company also provides loans for multi-family dwellings, apartments, office units, retail spaces, assisted living communities, mixed-use properties, and storage facilities.
Pangea Mortgage Capital Private Lenders Review
Many of the tenants who have rented from Pangea are happy with their landlords. Those who are not satisfied with their landlords are advised to look elsewhere. There are dozens of complaints of evictions filed against Pangea, but most of them have been dismissed. The company is known for offering ‘pay-and-stay’ deals. If a tenant signs up for such a deal, they waive their rights to a trial and withhold rent.
While the company started small and operated from a single office, it has grown over time. In 2009, it acquired more than 1,200 apartment units in Chicago. By the end of 2012, its portfolio had grown to more than 4,000 units in Chicago. In addition to Chicago, it now operates in Baltimore and Indianapolis. In 2013, it raised $180 million from investors, including legendary local financiers and Wall Streeters.
Another complaint involving the company is that it can be aggressive when collecting rent. This is not good for tenants, and the company can be difficult to get a hold of. In early 2011, the company was doing cash-for-keys deals. The owners would offer tenants cash for their keys if they weren’t paying on time. As a result, it took nearly two years before it was able to hire other tenants.
A number of homeowners have reported problems with the company’s management. In addition to the evictions, some tenants were forced to file for bankruptcy because Pangea was not being honest with them. Some of them are even evicted. But this is not a good thing. There are many negative reviews on the company’s practices. Several clients report that they were evicted by the company.
The company’s practices were also criticized by the public. The company allegedly refused to provide a loan for a homebuyer who was struggling to make ends meet. The lender’s policies were questioned on these issues. The firm’s employees were unable to respond to any questions. A couple with a bad credit history should consider a loan from another lender. Besides being a good fit for a borrower, the company offers a competitive rate and excellent customer service.
For those who have had experience with Pangea, it may not be the right lender for them. Some lenders are not regulated by government agencies, so they may be biased or even scams. When it comes to private lending, reviews for Pangea Mortgage Capital are invaluable. These companies can help you obtain a mortgage that will be beneficial for your finances. A review will help you decide whether to work with this lender.