Easy Street Capital is a mortgage lender that funds real estate investment properties. It claims to offer efficient loan processes but its customers tell a different story.
To help you see past their marketing claims and promises, I have written the following Easy Street Capital review. It will help you understand what exactly this company is according to its clients and whether you should trust them or not:
Everything Easy Street Capital Claims To Be:
Easy Street Capital is a mortgage lender in Austin, Texas. Its address is 201 W 5th St suite 1100 office 24, Austin, TX 78701, US. Their office opens from 9 AM to 6 PM on business days and the contact number is 512-271-0941. They have been operating since 2016.
It is a hard money lender that claims to offer loan programs for investment real estate. They claim to finance your next investment property regardless of your credit or experience and is a fully discretionary lender so it can modify a loan to meet your requirements.
Certainly, it seems like a lucrative offer but there’s a catch.
Easy Street Capital has negative reviews for delaying processes. Their negative reviews also highlight that the company’s rates are higher than the market and the staff is very difficult to work with.
This is when the company claims to underwrite, close and service every loan in-house. They claim it allows them to make their loan processes highly efficient and save time for their borrowers.
However, their reviews make it difficult to believe these claims.
They also have an active Instagram profile and their handle is @easystreetcap. While the obvious reason to post so many positive reviews is to get more clients there’s also an implicit reason.
Some companies maintain a strong social media presence to distract consumers from their negative reviews. For example, The Few Institute is a Chicago-based plastic surgery clinic that has botched innumerable surgeries. The surgeon there is very arrogant and takes no responsibility for botching those procedures. However, his potential clients don’t hear anything about it because of his strong social media presence.
Who is Stephen Hagerman?
Stephen Hagerman is the founder and president at Easy Street Capital. He claims to have acquired and disposed of over $1 billion of residential real estate in Texas and Califorina. He founded Easy Street Capital in 2016. Prior to this lending firm, Stephen had co-founded Aslan Residential that he ran for 7 years.
Being the president, it seems like Stephen doesn’t care about his clients. The proof is the lawsuit his company is facing right now.
Easy Street Capital Lawsuit Against Luis Gonzalez
Luis Gonzalez had filed a property-related lawsuit against Easy Street Capital on 13 April, 2021. It was filed in Los Angeles County Superior Courts, Norwalk Courthouse and is still pending.
As it’s a pending case, there isn’t much information available on it. However, it’s obvious that a disgruntled client has taken them to court and they don’t want their potential customers to find out about it.
If you want to learn more about the lawsuit, you can go here: Easy Street Capital lawsuit.
Terrible Staff, High Rates, Endless Delays, and Zero Flexibility
Earl here points out that there is nothing easy about doing business with this business. They were working with Kelly Smith, the account manager at Easy Street and point out that the company has zero flexibility on draws and high rates.
I have only shared this complaint to serve as an example. It gives you a great idea of what it’s like to work with Stephen and his company.
Stephen Hagerman Is Allegedly Poaching Employees
It seems that Stephen likes to poach employees. This is a small review I found on this company which simply says “they take your employees”. I guess Stephen doesn’t hesitate to resort to unethical business practices.
It’s obvious that Easy Street Capital is no simple company. They have multiple negative reviews and they are facing a lawsuit right now from a disgruntled client.
All of these red flags suggest that it would be safer to avoid this Texas-based mortgage lender. Working with a shady lender exposes you to a lot of risk which can be avoided much easily. For example, JFQ Lending is an infamous lender that is running a VA loan scam.
Easy Street Capital has countless negative reviews and are facing a lawsuit because of their predatory practices. Don’t fall in this trap!
- Predatory practices
- Facing a lawsuit
- Lack of ethics