Speaker: Harry, ABL Borrower & Real Estate Investor
How long have you been working with ABL?
Harry: Hey, my name is Harry and I have been working with Asset Based Lending ABL, for the past 3 years, 3 months. I went to ABL for my first loan, my first hard money loan and I have been with them ever since. Since that time I bought nine more houses for a total of 10 houses in the past 3 years and I have seven of them as rentals. The house I'm in right now is financed through ABL and will become a rental. I usually don't make product endorsements or service endorsements or anything else like that because it's rare that I come across a situation where I feel that passionate about. However working with ABL, they're more than just a hard money lender to me, they're like a partner of mine. You know, when other hard money lenders may not have lent me the money because it was my first deal, ABL they lent me the money and from there I was able to quit my W2 job and do this full time. You know I don't want to sound too dramatic but it's changed my life. The difference between ABL and other hard money lenders isn't necessarily the products that they offer. Their interest rates or fees are probably very similar in that area. However, their communication, their customer service, their ability to get things done quickly. I can't imagine anywhere else could even compare to them. In this market if you're out there looking for houses like I am all the time in this market, you gotta come up with cash fast and ABL allows me to put an offer in and I can close within a few weeks. And that's just, that's not just lip service. You know other companies might say that and then you can't get to the closing table for a couple of months and you lose out on the deal. Not with ABL! I'm usually ready to close before the sellers can close. That has put money in my pocket over the years. I'm not gloating but I am here to say that when I first went to ABL for my first loan, I don't know if they knew this but I think I was like negative $30,000 net worth. The deal was solid. So I was relatively solid. The deal was relatively solid and they took a risk on me and lent me some money for their first deal. Well now my networth's over $1 million dollars and I work hand in hand with ABL and that's why I am where I am. So if you're on the fence about what hard money lender to use or have any questions. Give ABL a call. I'm sure that they'll answer whatever questions you might have and you're going to get off the phone feeling good because they make a great first impression as well. And just to throw this out there. I'm giving ABL permission to use my name and also give my contact information to anybody that's never done this before or is on the fence about what hard money lender to use. Harry!
What do you appreciate most about working with ABL?
Harry: What I like most about working with ABL is I can always talk to someone. My loan officer and I, especially during an active deal, we sometimes talk every day, so that's one of my favorite parts about dealing with ABL.
What kind of projects do you use ABL for?
Harry: The projects I use ABL for, or that ABL and I work on together are houses that need severe rehab. All right. The worst house in the, in the most decent neighborhood, so I get ABL to fund my project as well as the rehab expenses. It's really beneficial.