We recently spoke with three fix-and-flip investors, all of whom used Anchor Loans on their own projects (before and after photos above). In their own words, here’s how Anchor Loans made the difference in their individual projects and in their investments going forward.
Over the course of your relationship with Anchor Loans, what’s made them stand out to you?
Vartan A.: “A couple of things. One is speed. The speed is a big factor, how things get processed, and that they can fund quickly. Another factor is service. That is, their customer service. They know what our needs are and they’re knowledgeable about our business. That makes our job a lot easier and smoother.
“The service and speed are definitely a big part. I also want to mention [Anchor Loans account executive] Lance Spencer. Lance has been very accessible. Any time I need something done quick or in a special way, Lance always accommodates.”
Zachary L.: “At the time [when my relationship with Anchor Loans began] it was really about the personal relationship when we were just getting started, and now it’s just their quick turnaround and their reliability. I always know that they’re going to be able to get it done. There’s never any fear.”
Hernan H.: “Their reliability. In one word, that’s it. They’re bankable. You can take them for their word if they say they’re going to do something. They’re a company that stands behind what they say. I can make promises knowing I’m receiving the same kind of quality, a seriousness on the side of Anchor. If they say “yes I can fund this for you in three days or four days or five days,” they’ll get it done.”
Is there a specific instance where your close personal connection with Anchor Loans made a difference for you?
Zachary L.: “Definitely. It happens all the time when you take on a project where you have a partner or someone who wants to use their own broker or go with a certain outfit, and it’s always a big pain. For me, it’s about that familiarity and that relationship, so I’m always sort of pushing to Anchor because there’s so much going on in an escrow situation and you don’t want more hassle.
“When we go hard, with released contingencies, there’s just fear with some of the newer outfits or people I don’t know. Are they really going to come through? You never want to lose your earnest money deposit. I’ve never had an issue with Anchor delaying something or not being able to get documents out in time.”
Vartan A.: “There has been more than one instance where speed and service have played a role. In fact, I’ll come back to how Lance has helped out. It’s been very critical. Sometimes we deal with a lot of moving parts in our business, like listing agents or buyers’ agents or homeowners. Everybody wants things a certain way, and I want to buy the property and to accommodate these different people. So, sometimes if you have the right team, like Lance and his team, everything becomes much smoother.”
What do you see as the big difference between Anchor and other lenders with whom you’ve worked?
Zachary L.: “Before I used a lot of private money, investors or smaller lenders. It was a bit more amateur and a bit looser. It’s a lot less reliable. Moving forward with Anchor, it’s just very consistent.
Hernan H.: I’ve always considered Anchor my primary lender because of the relationship that was established at the personal level as well as business. Again, back to the fact that they’re a company you can count on. As an investor, when I’m sitting in front of a seller, I need to be sure I give promises that can be fulfilled, and that really relies on whether I’m finding it with my own cash or coming to anchor with a loan, that’s an important factor there for me.”
Ready to get started with Anchor Loans? Contact our team and start your fix-and-flip investment project today!