Fast Money For Flips, LLC Fast Money For Flips, LLC Somlar Capital Partners, LLC Stuart Somlar, Jeffrey abraham Fake Lenders, Unethical Business Practices and Misrepresentation by Fast Money For Flips LLC/ Somlar Capitol LLC Denver/ Saint Louis Colorado / Missouri

We are the ones who found out he went around us and paid that guy money for an appraisal that we found out he was on the ripoff report why would we tell him that if we were involved with that person who stole from you guys? I try to apologize but you want to hold us responsible and tell everybody I'm a broker. I am a commercial lender and I have over one hundred letters of reference I treat people with respect and you always have a hater like the top guy who wants to throw gasoline on the situation but God knows my heart and many people do. I post my proof Im  a lender on your site and you guys making this accusation about me will find themselves and your organization in court for defamation of my name

I have worked with Jeffrey Abraham for about 3 years and he is a lender with Fast Money for
Flips and Finance of America.
And he always does a great job for the clients. I can understand sometimes our programs.
Doesn’t fit every property that the client wants to buy, and a lender brokers out the deal to other
That may work with that type of property. I have broken something that we couldn’t do.
But if that other is supposed to be a lender who tricked my client my client broke contact with me and
Work on his own with a lender and he is also responsible for doing due diligence on anybody.
That is to offer him a loan. I only want to say that Jeffrey is a professional and very valuable
asset to Finance of America

Gonzalo Molina
Vice President / Account Executive
President’s Club 2022

p: (704) 672-4185
e: gonzalo.molina@facolending.com
w: facolending.com

dissatisfaction with Fast Money For Flips LLC, a company that promised to provide financing for a property. You have encountered several issues with their services, such as: - Misrepresentation of their direct lending status - Inconsistencies in their requirements - Unreasonable demands and fees - Threats and unprofessional conduct - Disparaging remarks about your selected lender You also point out the lack of accountability from Stuart Somlar and Jeffrey Abraham, who have failed to address your concerns and blamed you for the problems. You state that their actions have caused you stress, financial losses, and damaged your confidence in their professionalism. You hope that your report will warn others about doing business with Fast Money For Flips LLC. - Jeffrey Abraham has shown no remorse or responsibility for the issues that have arisen during our engagement. He has ignored our requests for clarification and explanation, and instead resorted to intimidation and insults. - Jeffrey Abraham has not only breached our trust, but also violated the ethical standards of his profession. He has misrepresented his company's capabilities, misled us about the terms and conditions, and made false accusations against us and our selected lender. - Jeffrey Abraham has demonstrated a complete disregard for our interests and needs. He has wasted our time and money, and jeopardized our potential real estate transaction. He has shown no respect or courtesy for us as clients or as human beings.Also has made treats to cause harm and to sue. Several other people have had compliants about Jeffery.

This false and damaging statement made by Quantum Community Development. You have no evidence of Fast Money For Flips or Somlar Capital Partners, nor Jeffrey Abraham or Stuart Somlar, engaging in any wrongdoing toward Vincent Owen and Samuel Chapman, or any entity we represent.

No money changed hands between Quantum Community Development and Fast Money of Flips LLC or Somlar Capital Partners LLC. Jeffrey and I spent a total of 126 hours between 10/24/2023 - 11/24/2023 compiling documents that were unprofessionally drafted by parties of Quantum Community Development (examples attached) and explaining the financial reasoning why their deal was being turned down by several lenders, and pre-underwriting your project to ensure that Fast Money For Flips could get the best terms for them. We decided to bill you our $995 application fee when we noticed the amount of time we were spending consulting Quantum Community Development, and in the end, we decided to push forward and continue to work for you without compensation.

Fast Money For Flips is a registered private direct lender with “Finance America,” where it can originate loans for residential, fix and flip, multifamily 5+ unit properties, and ground-up construction. We also have a host of lending relationships that are private and public.

Vincent Owens, co-founder of Quantum Community Development, sought out guidance on 10/24/2023 for a commercial acquisition that his company had previously been declined for financing by several lenders before reaching out to Jeffrey Abraham and myself for help. The subject property being purchased was in Pueblo, CO, a commercial build with only two business tenants paying well below market rent.

During the initial discovery call with Mr. Vincent, he made it very apparent that he did not want to use his credit to secure the loan. He wanted to use his network of younger mentees he draws on to use their credit to purchase buildings, which they create partnerships on the subject properties like this one in Pueblo, CO. He is very persistent in not using his name and using his partner Samuel Chapman to secure the financing. Shortly after our call, I emailed Vincent the list of due diligence items and requested that he have Samuel Chapman complete a loan application.

Samuel Chapman, co-founder of Quantum Community Development, was the point person whom Vincent expressed that we are to work directly with on this deal. We received Sam’s application late evening on 10/24/23.

Documentation and preliminary underwriting:

From 10/25/2023 to 11/24/2023, Jeffrey and I worked on preparing their files for underwriting, which equated to 4 hours daily, requesting the documents needed for underwriting, requesting corrections to documents presented to us so that we could get a full picture of the property and their ideas for increasing the income from the build. Jeffrey Abraham is very thorough when it comes to vetting a deal, which is the reason why we continued to ask and request additional documentation to substantiate the claims that the After Repair Value of their property to purchase was 2x what the market was selling comparable properties for within that area in Pueblo, CO.

Working with our Lending Partners:

Problems we faced while working with our commercial lending circle on the deal with Samuel and Vincent were that their business plan for the property was not something of interest to our network to lend towards. Samuel and Vincent wanted to create an event space for the property to rent out for parties. They were very clear that the rehab budget was going to pay for a bar, speakers, and other various entertainment equipment. Jeffrey and I quickly addressed this issue by emailing Samuel and Vincent on 10/30/2023, explaining to them what we have been hearing from our commercial lending partners regarding their event space plans for the property. At that time, we suggested that they “white box” that space and rent to a market-rate business tenant long-term. They agreed to change the business plan, and Samuel confirmed that they have potential tenants for the new space.

Closing the transaction:

11/4/2023 - 11/14/2023 Samuel and Vincent desired to close fast within hours or days and not weeks. Fast Money For Flips is a direct lender for Finance America, which only works on residential, small commercial multifamily, and ground-up construction loans, so for commercial deals, we have to lean on our network to close them. Four Hard Money lenders turned the deal down or gave terms that were not suitable for Vincent or Samuel. Out of those four Hard Money lenders, Jacob Michaud was very responsive and expressed he liked the deal and he could fund the purchase. Jacob gave terms/commitment letter signed by Samuel on 11/9/2023 and requested that a Broker Price Opinion (BPO) be ordered and paid by Samuel or Vincent.

The BPO request was sent out by Jacob on 11/9/2023, and I sent the document out for Samuel to e-sign. On 11/9/2023, Samuel and Vincent became frustrated with Jeffrey and me then began working directly with Jacob Michaud from T&M Commercial Funding. During that time Jacob stopped returning Jeffrey and my phone calls.

11/14/2023 I reached out to Samuel via text to see if they were going to continue with the loan with Jacob. I had not heard anything from him or Vincent in days at that point. If they didn’t the loan I request they let me know so I could tell Jacob to cancel it. Jeffrey and I received no response.

11/17/2023 I received the signed BPO from Samuel at 5 pm. I did not see the email until 2 hours later, and I reached out to Jeffrey to give him notice. Jeffrey immediately started his due diligence because we have heard anything from Jacob, Samuel, or Vincent. During Jeffrey’s search, he found the following threads from the Ripoff Report naming Jacob Michaud and his company. That night we immediately alerted Samuel and Vincent about what we found via email and text. I requested that Samuel call me immediately. Below is what we found on the lender that prompted us to request the transaction be halted immediately.

Jacob Michaud of T&M Commercial Funding:

https://www.ripoffreport.com/report/jake-michaud/auburn-maine-jacob-man-1479309

https://www.ripoffreport.com/report/tm-commercial-funding/auburn-maine-jacob-michaud-1479308

https://www.ripoffreport.com/reports/tm-commercial-funding-inc/auburnmaine-auburn-maine-04210/tm-commercial-funding-inc-todd-johnson-jacob-michaud-they-are-charging-me-12-on-a-hom-1440361

https://www.ripoffreport.com/reports/t-m-commercial-funding/auburn-maine-04210/t-m-commercial-funding-todd-johnson-jacob-machaud-hard-money-lender-operating-out-of-h-1139668

The baseless accusations against Fast Money For Flips, Somlar Capital Partners, Jeffrey Abraham, and Stuart Somlar lack evidential support. These allegations have resulted in the losses of significant lending opportunities, and are effecting our key financial relationships.

Anybody with half a brain would see this is an ADVANCE FEE LOAN SCAM. Get yourself a keeper and they will pay you a small allowance weekly since it's quite obvious you don't have the common sense to handle money.