Yesterday I asked if any of you had heard of or worked with FundThatDeal.com. And no one responded. I also contacted FundThatDeal.com and they answered back in a timely fashion. Here is their response.
Thanks for contacting us.
fundthatdeal.com is a new website and has really only gone live in the last month. It took over a year to plan and have it built, as it has a huge engine and back end. This and the marketing to date has required a significant cash investment. So we wona?Tt be going anywhere soon !
The interest we have had from people like yourself has been great. Up to today we have 193 entrepreneurs and 54 investors registered in that short time and more people registering daily. From what we can see there are already a number of dialogues taking place between the various parties and we believe it will not be long before some deals get funded. Like you, we know that there are great real estate deals out there and there are many people who want to earn a decent return on their money.
We charge entrepreneurs $199 to publish a proposal on our site – less than the cost of an advert in a newspaper or on Loopnet – this amount that doesn’t even cover our costs! The entrepreneurs set their own loan/investment terms (which they may or may not decide to negotiate on with an interested investor)
Where we make our money is when people get funded, thata?Ts what the 1% success fee is for a?” so ita?Ts really really important to us that people get funded! However we cannot guarantee everyone will get funded. We can do our best to take the horse to the water but we cana?Tt make it drink! We do know however that the more people we get on the site the greater the chances of funding. So we really appreciate people like you taking an interest in the site.
We are based in Naples, Florida and London, England.
I’ll be sure to give you updates when we get our first deals funded and will gladly forward you references if they’re happy to talk with you.
Dona?Tt hesitate to contact us if you need anything else Chris, and thanks again for reaching out.