I contacted NEXT RE Capital partner late July in 2016, on behalf of my client. The premise of the call was to inquire whether they would finance an "empty" office building in Pompano Beach, Fl. I advised that my client could carry the mortgage for the property using his income from his medical practice as he had been for the prior last two years. They agreed to move forward in September after reviewing my client's tax returns. Kevin Perotta, one of the executives of the company, made it very clear that all we needed was an appraisal with a certain amount and a clear inspection report to move forward with the funding. It was also agreed upon that the existing appraisal would be updated so that we did not need to order a “new appraisal”. Furthermore, I was also advised that they were a “direct lender” and would be funding the project themselves. Unfortunately, all of this information was lies. The appraisal was not updated and my client had to pay for a new appraisal which came in slightly higher than the appraisal we submitted initially. The inspection report came back clean as well.
I asked for a conference call so that we could discuss closing the loan and everyone from their Firm bailed from the call. Stacey finally got on the call 15 minutes later for 5 minutes explaining that she was busy on another transaction. I then received an email week later stating that they decided to not move forward with the loan because “their investors were not comfortable with the investment”. I had repeatedly asked Edward Mehrfar and Stacey Ribotsky for proof of funds prior to their denial email because I was getting a bad feeling on their ability to close this loan. They failed to ever show proof of funds and just ignored my requests. When I asked Edward, to return the funds, I was given many excuses and then he stopped responding to my emails. In my opinion, they are fee collectors and attempting to illegally collect fees without having to close on a loan. Their term sheets are cleverly evasive, which leads me to believe why an attorney is the owner of the company.
BEWARE, unless you have tens of thousands of dollars to throw in the wind, do not use this lender. Ironically, Edward’s old company, Strategic Capital Solutions, is no longer financing transactions. Unfortunately my client and I had to find out the hard way…. Lastly, 90% of the time when you call the company, no one answers the phone and it goes into voice mail. They only answer callers when they are attempting to get you into a term sheet and collect your money! They simply will avoid your calls and come up with some sort of excuse…….
I contacted NEXT RE Capital partner late July in 2016, on behalf of my client. The premise of the call was to inquire whether they would finance an "empty" office building in Pompano Beach, Fl. I advised that my client could carry the mortgage for the property using his income from his medical practice as he had been for the prior last two years. They agreed to move forward in September after reviewing my client's tax returns. Kevin Perotta, one of the executives of the company, made it very clear that all we needed was an appraisal with a certain amount and a clear inspection report to move forward with the funding. It was also agreed upon that the existing appraisal would be updated so that we did not need to order a “new appraisal”. Furthermore, I was also advised that they were a “direct lender” and would be funding the project themselves. Unfortunately, all of this information was lies. The appraisal was not updated and my client had to pay for a new appraisal which came in slightly higher than the appraisal we submitted initially. The inspection report came back clean as well.
I asked for a conference call so that we could discuss closing the loan and everyone from their Firm bailed from the call. Stacey finally got on the call 15 minutes later for 5 minutes explaining that she was busy on another transaction. I then received an email week later stating that they decided to not move forward with the loan because “their investors were not comfortable with the investment”. I had repeatedly asked Edward Mehrfar and Stacey Ribotsky for proof of funds prior to their denial email because I was getting a bad feeling on their ability to close this loan. They failed to ever show proof of funds and just ignored my requests. When I asked Edward, to return the funds, I was given many excuses and then he stopped responding to my emails. In my opinion, they are fee collectors and attempting to illegally collect fees without having to close on a loan. Their term sheets are cleverly evasive, which leads me to believe why an attorney is the owner of the company.
BEWARE, unless you have tens of thousands of dollars to throw in the wind, do not use this lender. Ironically, Edward’s old company, Strategic Capital Solutions, is no longer financing transactions. Unfortunately my client and I had to find out the hard way…. Lastly, 90% of the time when you call the company, no one answers the phone and it goes into voice mail. They only answer callers when they are attempting to get you into a term sheet and collect your money! They simply will avoid your calls and come up with some sort of excuse…….
NextCapital Group, Inc. Reviews
I contacted NEXT RE Capital partner late July in 2016, on behalf of my client. The premise of the call was to inquire whether they would finance an "empty" office building in Pompano Beach, Fl. I advised that my client could carry the mortgage for the property using his income from his medical practice as he had been for the prior last two years. They agreed to move forward in September after reviewing my client's tax returns. Kevin Perotta, one of the executives of the company, made it very clear that all we needed was an appraisal with a certain amount and a clear inspection report to move forward with the funding. It was also agreed upon that the existing appraisal would be updated so that we did not need to order a “new appraisal”. Furthermore, I was also advised that they were a “direct lender” and would be funding the project themselves. Unfortunately, all of this information was lies. The appraisal was not updated and my client had to pay for a new appraisal which came in slightly higher than the appraisal we submitted initially. The inspection report came back clean as well.
I asked for a conference call so that we could discuss closing the loan and everyone from their Firm bailed from the call. Stacey finally got on the call 15 minutes later for 5 minutes explaining that she was busy on another transaction. I then received an email week later stating that they decided to not move forward with the loan because “their investors were not comfortable with the investment”. I had repeatedly asked Edward Mehrfar and Stacey Ribotsky for proof of funds prior to their denial email because I was getting a bad feeling on their ability to close this loan. They failed to ever show proof of funds and just ignored my requests. When I asked Edward, to return the funds, I was given many excuses and then he stopped responding to my emails. In my opinion, they are fee collectors and attempting to illegally collect fees without having to close on a loan. Their term sheets are cleverly evasive, which leads me to believe why an attorney is the owner of the company.
BEWARE, unless you have tens of thousands of dollars to throw in the wind, do not use this lender. Ironically, Edward’s old company, Strategic Capital Solutions, is no longer financing transactions. Unfortunately my client and I had to find out the hard way…. Lastly, 90% of the time when you call the company, no one answers the phone and it goes into voice mail. They only answer callers when they are attempting to get you into a term sheet and collect your money! They simply will avoid your calls and come up with some sort of excuse…….
I contacted NEXT RE Capital partner late July in 2016, on behalf of my client. The premise of the call was to inquire whether they would finance an "empty" office building in Pompano Beach, Fl. I advised that my client could carry the mortgage for the property using his income from his medical practice as he had been for the prior last two years. They agreed to move forward in September after reviewing my client's tax returns. Kevin Perotta, one of the executives of the company, made it very clear that all we needed was an appraisal with a certain amount and a clear inspection report to move forward with the funding. It was also agreed upon that the existing appraisal would be updated so that we did not need to order a “new appraisal”. Furthermore, I was also advised that they were a “direct lender” and would be funding the project themselves. Unfortunately, all of this information was lies. The appraisal was not updated and my client had to pay for a new appraisal which came in slightly higher than the appraisal we submitted initially. The inspection report came back clean as well.
I asked for a conference call so that we could discuss closing the loan and everyone from their Firm bailed from the call. Stacey finally got on the call 15 minutes later for 5 minutes explaining that she was busy on another transaction. I then received an email week later stating that they decided to not move forward with the loan because “their investors were not comfortable with the investment”. I had repeatedly asked Edward Mehrfar and Stacey Ribotsky for proof of funds prior to their denial email because I was getting a bad feeling on their ability to close this loan. They failed to ever show proof of funds and just ignored my requests. When I asked Edward, to return the funds, I was given many excuses and then he stopped responding to my emails. In my opinion, they are fee collectors and attempting to illegally collect fees without having to close on a loan. Their term sheets are cleverly evasive, which leads me to believe why an attorney is the owner of the company.
BEWARE, unless you have tens of thousands of dollars to throw in the wind, do not use this lender. Ironically, Edward’s old company, Strategic Capital Solutions, is no longer financing transactions. Unfortunately my client and I had to find out the hard way…. Lastly, 90% of the time when you call the company, no one answers the phone and it goes into voice mail. They only answer callers when they are attempting to get you into a term sheet and collect your money! They simply will avoid your calls and come up with some sort of excuse…….