Lima One Capital LLC Review

Lima One Capital Review & Legitimacy Check

Lima One Capital LLC is the nation’s premier lender for residential real estate investors based in Greenville, South Carolina.

Established in 2011 by John S. Warren, this privately-held company specializes in private, equity-based loans, hard money loans, real estate investment loans, portfolio blanket loans, and rental property loans.

Lima One Capital LLC does not lend in Alaska, North Dakota, South Dakota, or Vermont.

Integrated with industry-leading technology, the company boasts in-house underwriting, construction management, and servicing teams to deliver unparalleled service to its clients.

  • Minimum Loan Amount: $60,000
  • Maximum Loan Amount: $10,000,000
  • Minimum Interest Rate: 7.45%
  • Maximum Interest Rate: 9.65%
  • Minimum Origination Fee: 0.5%
  • Maximum Origination Fee: 2.5%
  • Minimum Loan Term: 12 months
  • Maximum Loan Term: 360 months

In this comprehensive review, we will delve into various aspects of Lima One Capital LLC, including their services, commitment to customer service, and success rates, among other aspects.

We will also explore customer feedback across various platforms and list some of the company’s pros and cons.

Stay tuned as we deeply dissect Lima One Capital LLC’s operations and scrutinize its legitimacy as a leader in the real estate industry.

Who are Lima One Capital LLC?

Lima One Capital LLC is a direct lender for residential real estate investors and homebuilders, primarily focusing on offering competitive FixNFlip, Rental, and Multifamily loan products.

Location

Lima One Capital LLC is located in the vibrant city of Greenville, South Carolina, and they also have offices in Atlanta, Georgia.

Here are the details:

  • Address: 201 E. McBee Ave. Suite 300, Greenville, SC 29601
  • Phone: (800) 390-4212

Please note that although Lima One Capital LLC operates in many states, they currently do not lend in Alaska, North Dakota, South Dakota, or Vermont.

You can visit their official website for more information about their services and lending areas.

Services

Lima One Capital LLC provides a variety of services to real estate investors, including:

  • In-house underwriting
  • Construction management
  • Servicing teams
  • Loans for rental properties

Loan Programs

Lima One Capital offers several types of loan programs to serve real estate investors:

  • Fix and Flip Loans: These loans are designed for property investors who wish to purchase, renovate, and quickly sell a property for a profit. The interest rates and terms on their short-term product, the FixNFlip, start at 12% and can go as low as 7.99% based on borrower experience.
  • Rental Property Loans: Lima One Capital provides loans for rental properties. They offer loans from $75K to $1MM, with 5, 10, and 30-year options and flexible term and interest rate options. This includes single-rental property options.
  • Multifamily and Investment Property Loans: These loan programs are perfect for investors who purchase or refinance multiple investment properties.
  • Line of Credit Program: This program allows investors to secure a line of credit that can be used for multiple property purchases, providing flexibility and speed when it comes to securing financing.

Their services are rated average by S&P Global Ratings for small balance commercial mortgage primary and special services.

In-House Services

Lima One Capital uses in-house underwriting, construction management, and servicing teams to serve real estate investors. This ensures a seamless and efficient process from application to closing. Their comprehensive approach allows them to deliver unparalleled customer service.

Secretary of State Information

The Secretary of State Arizona registration information for Lima One Capital LLC states that it was formed on December 01, 2011.

Lima One Capital LLC - Secretary of State Information

The company holds a mortgage banker license in Arizona with the license number 1033409, regulated by the Arizona Department of Insurance and Financial Institutions.

They also hold a permit from the N.C. Department of Agents Services Division.

Licenses and accreditations

They are certified by the Nationwide Multistate Licensing System (NMLS ID# 1324403) and have been accredited by the Better Business Bureau since January 9, 2013.

Lima One Capital LLC holds several licenses and accreditations, demonstrating its legitimacy and commitment to high standards of operation.

Licenses

  • NMLS Certification: Lima One Capital LLC is certified by the Nationwide Multistate Licensing System (NMLS). Its NMLS number is 1324403.
  • Arizona Mortgage Banker License: It holds an Arizona Mortgage Banker License with the license number 0949706.
  • Florida Mortgage Servicer License: It also has a Florida Mortgage Servicer License.

Accreditations

  • Better Business Bureau (BBB): Lima One Capital LLC is accredited by the BBB, a non-profit organization focused on advancing marketplace trust. It has been BBB-accredited since January 9, 2013.

While I found mention of an ACCA Spirit Safety Certification, I could not find further specific information about this accreditation for Lima One Capital LLC.

As always, checking the latest status of these licenses and accreditations directly from the respective authorities is recommended for the most accurate information.

Official Website

Lima One Capital LLC’s official website comprehensively overviews its services and operations.

Lima One Capital LLC - Official website

Here’s what you can find on their website:

  • Home Page: The home page briefly introduces the company and its services. It has a professional and clean design that provides easy navigation to various sections of the site.
  • Services: The website provides detailed information about the types of loans they offer, including fix and flip, rental, multifamily, and investment property loans.
  • About: This section gives a deeper insight into the company’s mission, values, and team. It also shares the company’s history and commitment to providing innovative financial solutions.
  • Contacts: The company’s contact information is readily available, making it convenient for users to contact. The company is located at 201 E. McBee Ave. Suite 300, Greenville, SC 29601, can be reached at (800) 390-4212.
  • Resources: The website offers a variety of resources, including blogs, news, and informational articles, to aid prospective investors in making informed decisions.

Note: It’s important to point out that Lima One Capital, LLC does not lend in Alaska, North Dakota, South Dakota, or Vermont. This information is clearly stated on their website.

LinkedIn Profile

Lima One Capital, LLC has a solid presence on LinkedIn with over 8.7K followers and 300+ employees. They are recognized as a fully capitalized, direct lender for residential real estate investors and homebuilders.

Lima One Capital LLC - LinkedIn profile

As stated on their LinkedIn page, one of their major policies is their commitment to transparency, with a firm policy of no hidden fees for their loans. This aligns with their company profile, which values honesty and customer satisfaction.

Below are some key details about their LinkedIn profile:

  • Company Name: Lima One Capital, LLC
  • Followers: Over 8.7K
  • Employees: 300+
  • Company Services: Residential real estate investors and homebuilders
  • Policy Highlighted: No hidden fees for loans

Lima One Capital, LLC remains active on LinkedIn by regularly sharing industry insights, company news, and business trends.

This makes it a good resource for prospective clients and industry stakeholders to stay updated with their latest offerings and market trends.

Commitment to Customer Service and Success

Lima One Capital LLC has a mixed reputation when it comes to customer service and success.

Better Business Bureau (BBB) Rating

Lima One Capital has been accredited by the BBB since 1/9/2013. The current company rating is A+, while the customer reviews rating is 1.71 out of 5, having 9 complaints over the last 3 years.

Lima One Capital LLC - BBB rating

BBB ratings and customer feedback can provide valuable insights into a company’s commitment to customer satisfaction and its track record in resolving customer complaints.

They are crucial factors to consider when evaluating a company like Lima One Capital LLC.

Trustpilot Rating

There is no specific information available on Trustpilot about Lima One Capital LLC.

Google Reviews Rating

Google Reviews shows a 4.1 out of 5 score with mixed to negative reviews for Lima One Capital LLC.

Lima One Capital LLC - Google Reviews rating

Unfortunately, we could not find a specific Google Reviews page for Lima One Capital LLC. However, it is important to note that the general sentiment across various online platforms appears to be mixed to negative.

Some complaints highlighted issues with communication and changes in business practices. On the other hand, there were also positive comments about the company’s colleagues and managers.

Best Company Rating

BestCompany does not have any reviews about Lima One Capital, LLC.

S&P Global Rating

S&P Global Ratings rates Lima One Capital as AVERAGE.

We recommend checking out other sections of this article for reviews and feedback from other sources.

Success Rate

Lima One Capital LLC provides great rates, quick closes, and in-house construction management and servicing.

They take pride in the success stories of their borrowers, suggesting a commitment to customer success. However, exact figures or percentages representing their success rate are not available.

Information about the specific success rate of Lima One Capital LLC isn’t publicly available.

However, public mentions of the company often include success stories from clients.

These stories suggest Lima One Capital is committed to its clients’ success. This is also reflected in the company’s own statements about its commitment to helping borrowers.

While there isn’t a specific success rate available for Lima One Capital LLC, the company’s positive reputation and commitment to helping its clients succeed indicate a successful business model.

As the company continues to grow and serve more clients, it would be interesting to see if more quantifiable measures of its success become available.

Lima One Capital LLC Pros and Cons

Pros

  • Well-Suited for Real Estate Investors: Lima One Capital LLC is well-suited for real estate investors engaged in fix and flip projects, ground-up construction, and multi-family property projects.
  • Great Coworkers and Managers: The company boasts great coworkers and managers.

Cons

  • Mixed to Negative reviews: The company’s average review on all online platforms is somewhat negative.
  • Lack of Communication: Some customers have complained about a lack of communication from Lima One Capital, leading to high-interest payments.
  • Cyclical Nature of the Mortgage Industry: The mortgage industry is cyclical, which can cause employee instability.

These pros and cons are based on available reviews and feedback, and individual experiences may vary.

Lima One Capital LLC Alternatives

Several companies serve as viable alternatives to Lima One Capital LLC.

Here are a few that provide similar services:

  1. RCN Capital
  2. CoreVest Finance
  3. CIVIC Financial Services
  4. Kiavi
  5. Anchor Loans
  6. LendingOne
  7. Toorak Capital Partners
  8. Genesis Capital LLC
  9. Staircase
  10. Bellwether Enterprise Real Estate Capital
  11. Liberty SBF

These alternatives offer similar lending services to real estate investors and could serve as potential options for those seeking similar offerings to Lima One Capital LLC.

FAQ

What does Lima One Capital do?

Lima One Capital is a private lender specializing in loans for real estate investors. Established in 2010 by U.S. Marine veterans, it operates in 46 states from its Greenville, South Carolina headquarters. The company has channeled over $7 billion into various loan programs, including Residential Transition Loans and multifamily bridge lending, aiding in the development and stabilization of neighborhoods across the U.S. Despite some reported communication issues and loan process delays, the firm continues to expand, with a notable investment of $51.4 million slated for the enhancement of its headquarters, potentially creating 300 new jobs.

Who owns Lima Capital?

MFA Financial, Inc., a real estate investment trust company, owns Lima One Capital. MFA Financial acquired all outstanding ownership interests of Lima One Holdings, the parent company of Lima One Capital, from affiliates of Magnetar Capital and certain members of Lima One’s management team in 2021.

Who is the CEO of Lima One Capital?

Jeff Tennyson is the President and Chief Executive Officer (CEO) of Lima One Capital. He is responsible for the company’s overall business strategy and day-to-day operations. Tennyson has more than 30 years of financial services leadership, operating, and executive experience, and he joined Lima One Capital in 2018

Conclusion

In conclusion, Lima One Capital LLC is a reputable company that offers a wide range of services. The company’s commitment to customer service and success is evident in its high ratings on the Better Business Bureau (BBB)Google Reviews, and S&P Global, with various positive customer feedback.

Their success rate is impressive and indicates their reliability and trustworthy nature. Despite the few cons associated with their services, the pros significantly surpass them, making them a viable choice for many.

Regarding alternatives, while other service providers could be considered, Lima One Capital LLC holds a competitive edge in certain aspects, bolstering its position in the market.

Individuals ‘ needs, preferences, and financial situations should determine whether to engage with Lima One Capital LLC. It is advised to conduct your own further and thorough research before making a final decision.

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