Q Properties

I used Q Properties’ hard money lending service called Q Capital for a fix-​and-​flip loan. The process to close was tedious and lengthy to say the least. The day of the closing was disastrous. The title company which did the closing for us described it as a «fiasco». All the numbers on the HUD were wrong, and I later learned that a third party was providing the loan, and that Q only services the loan. Something which was never disclosed to us. We nearly missed the deadline to close on the property and funded it later than we were supposed to.
After we sold our property, we were supposed to close on 11÷30÷15, but were delayed serval days due to the incompetence of Q Capital, and came close to losing our deal. We literally funded the deal right at the deadline provided by the bank, within a few minutes of missing it.
Q had nearly three weeks to provide a payoff quote (a one page document with a few line items), and still didn’t have it done the week of the closing. The accountant blamed the time difference between her office and the west coast where the loan provider is, which is pretty weak. I had to literally hold their hands to get the process done. And the numbers on the payoff weren’t even 100% correct. They tried to charge us a full month’s interest which should have been prorated, and the payment was only necessary due to the delay they caused.
If you’ve already started working with them, and can’t cancel, I feel sorry for you. But if you are considering using their services, don’t. It’s a hellish and painful experience. They are completely incompetent and unprofessional. They don’t seem to care if you close on time, or have any sort of organizational skills.