COGO Capital
1121 E. Mullan Ave
Coeur d'Alene, IA 83814
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About COGO Capital
Based in Coeur d'Alene, IA, COGO Capital is an asset-based lender providing loans in 45 states throughout the US. They provide private commercial loans, fix-and-flip loans, and loans for investments properties. Their loan guidelines are flexible, including loans with a maximum LTV of 65%. They do not require borrowers to have a minimum credit rating to obtain a loan. The focus of their loans is for single family homes and multi-family units.
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Loan Types Offered: Investment Property Loans, Fix and Flip Loans, Commercial Hard Money Loans
Property Types Covered: Single Family, Multi Family
Areas Served: AK, AL, AR, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NY, OH, OK, PA, RI, SC, TN, TX, UT, VA, WA, WI, WV, WY
Licenses: California BRE License #: 01928542, NMLS #: 1051036, Arizona Mortgage Broker License # 0950084
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Lending Guidelines for COGO Capital
Below are the general loan guidelines published on the COGO Capital website. Please confirm all terms and rates directly with the lender.
Investment Property Loans
Loan Amounts: N/A
Available Rates: N/A
Typical Terms: N/A
Points Charged: N/A
Max Loan-to-Value (LTV): 65%
Max Loan-to-Cost (LTC): 80%
Owner Occupied Allowed: NO
Interest Only Loans: YES
Prepayment Penalties: N/A
Minimum FICO Score: NO
Time to Close: N/AFix and Flip Loans
Loan Amounts: N/A
Available Rates: N/A
Typical Terms: N/A
Points Charged: N/A
Max Loan-to-Value (LTV): 65%
Max Loan-to-Cost (LTC): 80%
Owner Occupied Allowed: NO
Interest Only Loans: YES
Prepayment Penalties: N/A
Minimum FICO Score: NO
Time to Close: N/ACommercial Hard Money Loans
Loan Amounts: N/A
Available Rates: N/A
Typical Terms: N/A
Points Charged: N/A
Max Loan-to-Value (LTV): 65%
Max Loan-to-Cost (LTC): 80%
Owner Occupied Allowed: NO
Interest Only Loans: YES
Prepayment Penalties: N/A
Minimum FICO Score: NO
Time to Close: N/A -
Loan Examples
The following loans are for education purposes only. They do not represent actual loans executed by COGO Capital.
Loan Example 1
COGO Capital makes a fix and flip loan to Gail for a renovation project in Houston, TX, on a house that costs $300,000. The terms of the loan include a 80% loan to value (LTV), so she must contribute 20% of the price as cash to closing, making the principle note amount $240,000. The terms of the loan dictate a 14% note for 6 months. They also stipulate a 2 point origination fee, that will also need to be paid when the property closes.
On top of the $4,800 origination fee, Gail will also fund $60,000 of the purchase with her own cash, or 20% of the purchase price. The lender will collect $2,800 in monthly interest from the Gail. This is calculated by taking the full note value of $240,000, multiplying that by the 14% interest rate, and then dividing that number by 12. Assuming she sells the remodeled project for $435,000 at the end of the 6 month term, her total profit (not accounting for remodeling costs) would be $113,400. This is calculated by taking the purchase price ($435,000) and subtracting the original principle ($240,000), the origination cost ($4,800), the cash she contributed to closing ($60,000), and the total interest payments ($16,800).
Loan Example 2
Jorge takes a fix and flip loan from COGO Capital in order to remodel a house to resell in Houston, TX. The deal has the following terms:
$210,000 purchase price
80% loan to value (LTV)
18 month term
13% interest rate
2% origination feeJorge plans to list the house at the end of the term for $304,500. If he achieves this goal, the final numbers will be as follows:
$304,500 sales price
- $168,000 loan principle (80% LTV)
- $42,000 down payment (20% on 80% LTV)
- $3,360 origination fee (2% of the $168,000 principle)
- $32,760 total interest paid (18 months x 13% interest)
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= $58,380 gross profit (does not include taxes or rehab costs) -
by Nate C 05/17/2023
These guys are conmen. Stay far, far away from them. I first found them on Facebook after looking in depth for a quality private lender. Did a lot of research, reviewed all their videos through a paid course to work as a broker for the company, but my main interest was building a good working relationship with a lender to finance some properties for my business. The experience was so-so at best throughout brokering my first deal with them. Due to their constant reglect and never answering the phone or rarely responding to voicemails, we had to push our closing back several times. In the final hour they jacked up their rates and tried to hustle us for more money 3 days before closing. They are dishonest and are snake oil salesman. Lee Arnold has the audacity to call himself a man of God. Wolf in sheep's clothing. These jokers claim that if you bring them a deal that is good then the terms for the buyer are 10% down on the purchase price of the property and 10% of the repair costs. We have under contract a $65,000 property with a $55,000 repair bill. That's a total of $120,000. Do the math, that's $12,000. I've attached the rate sheet just to show you how far off they are from what they claim, and what they actually offer. I fully understand closing costs are in addition, this isn't my first rodeo, I've been investing in property for over 15 years. Had I known how they operate I would have just dealt with the bank I've been dealing with for our current properties, which I will be. Run from these guys and don't look back. If your friends are buying real estate ask them who they are using for financing and if they say Cogo Capital tell them to run! There are better options out there. Don't support crooks like these guys. They don't deserve your time or attention.
These guys are conmen. Stay far, far away from them. I first found them on Facebook after looking in depth for a quality private lender. Did a lot of research, reviewed all their videos through a paid course to work as a broker for the company, but my main interest was building a good working relationship with a lender to finance some properties for my business. The experience was so-so at best throughout brokering my first deal with them. Due to their constant reglect and never answering the phone or rarely responding to voicemails, we had to push our closing back several times. In the final hour they jacked up their rates and tried to hustle us for more money 3 days before closing. They are dishonest and are snake oil salesman. Lee Arnold has the audacity to call himself a man of God. Wolf in sheep's clothing. These jokers claim that if you bring them a deal that is good then the terms for the buyer are 10% down on the purchase price of the property and 10% of the repair costs. We have under contract a $65,000 property with a $55,000 repair bill. That's a total of $120,000. Do the math, that's $12,000. I've attached the rate sheet just to show you how far off they are from what they claim, and what they actually offer. I fully understand closing costs are in addition, this isn't my first rodeo, I've been investing in property for over 15 years. Had I known how they operate I would have just dealt with the bank I've been dealing with for our current properties, which I will be. Run from these guys and don't look back. If your friends are buying real estate ask them who they are using for financing and if they say Cogo Capital tell them to run! There are better options out there. Don't support crooks like these guys. They don't deserve your time or attention.by Unhappy customer 04/30/2022
I will start with something positive first. I came to this company with some credit issues. Along with a cosigner I was able to complete a rehab loan with an extremely high down payment and extremely high interest rate but nevertheless I did closed on the loan. Now the problem I have with this coming is they fumbled a perfectly good refinance. Imagine having a file where the primary applicant has over a 700 score. The property cash flows close to 5k a month and it appraised high. Perfect file. I responded to an email on 2/14 to lock in a 3.7 or 3.9 interest rate. I turned in everything they asked for with in 24 to 48 hours. My rate should have been locked and if it wasn't they should have told me what I needed to do to make sure it was locked. They asked for everything minus my blood type and my medical records. I complied with everything. They sat on my file until April. The entire time I asked what do they need. They finally came back with my numbers the 3rd week of April with a 7.3 interest rate. I am livid. I missed out on a opportunity because I trusted this company. My rate should have been locked in February when I started this process. But it wasn't. Now they offering me rate that is pretty much 3 percent higher than what I'm already paying. It is so unfair that they set on my file and now I've missed an opportunity to lower my rate. Beware of this company. I wouldn't suggest them to anyone. I hate that I trusted them. Rates will probably never be that low again. I could have went anywhere and they would had jump all over that file. But I trusted them and they screwed me out of an opportunity.
I will start with something positive first. I came to this company with some credit issues. Along with a cosigner I was able to complete a rehab loan with an extremely high down payment and extremely high interest rate but nevertheless I did closed on the loan. Now the problem I have with this coming is they fumbled a perfectly good refinance. Imagine having a file where the primary applicant has over a 700 score. The property cash flows close to 5k a month and it appraised high. Perfect file. I responded to an email on 2/14 to lock in a 3.7 or 3.9 interest rate. I turned in everything they asked for with in 24 to 48 hours. My rate should have been locked and if it wasn't they should have told me what I needed to do to make sure it was locked. They asked for everything minus my blood type and my medical records. I complied with everything. They sat on my file until April. The entire time I asked what do they need. They finally came back with my numbers the 3rd week of April with a 7.3 interest rate. I am livid. I missed out on a opportunity because I trusted this company. My rate should have been locked in February when I started this process. But it wasn't. Now they offering me rate that is pretty much 3 percent higher than what I'm already paying. It is so unfair that they set on my file and now I've missed an opportunity to lower my rate. Beware of this company. I wouldn't suggest them to anyone. I hate that I trusted them. Rates will probably never be that low again. I could have went anywhere and they would had jump all over that file. But I trusted them and they screwed me out of an opportunity.by DC developer 11/03/2020
Do not do any business with this company.
Do not do any business with this company.
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