Complaint / review text:
SCAM! John Helmick and Gorilla Capital will steal your money and cut you out of the deal. They will either charge you outrageous, undisclosed fees or simply cut you out of the deal completely.
Then, if you disagree, you can go to arbitration and pay even more. This happened to us...
And when we disputed with him, John Helmick, CEO of Gorilla Capital, retaliated. He took our personal and confidential information including drivers licenses, social security numbers, bank statements and other sensitive information we gave him to prove we were worthy to fund HIS deals and he purposely and maliciously violated the signed confidentiality agreement by putting it all on the dark internet. How do we know? Because a blogger bragged about it. One of us has now had our identity stolen and we have reported Helmick and Gorilla to the DOJ and FBI (along with the blogger who posted it).
When you work with Gorilla Capital, make no mistake. You are working with scammers. You do not own the property. They own 100% of it in their LLC. Yet YOU loan THEM money for the down payment at no interest and with no collateral or any guarantee of repayment.
AND they charge YOU 14.99% (different rates for different products) for the money they lend themselves. AND if your chosen program says you will pay for rehab, YOU now begin paying to rehab THEIR property as well with NO guarantee you will ever get repaid.
We paid over $35, 000 in HARD COSTS like materials and labor and are now fighting to get paid. We had to file a mechanic's lien in a state where a lawsuit is required to foreclose so now we are spending even more money.
In their agreement you can only act pursuant to a certificate of authority which says you can rehab the property. But they can revoke that at any time for any reason and without notice. Then you're out with no legal authority and they don't have to pay you back for the money YOU spent rehabbing THEIR property. They can even sell it at a reduced price just enough to cover what they are owed. And this is what they do...
When the property sells, they get paid first including their investment, profits, fees and more. My experience is that they make up exorbitant fees to pad their profit. If you're not happy, go arbitrate.
Once they've taken all of their investment, profit, fees and more then you start to get repaid for your hard investment into their property. And if there's not enough money to pay you back your investment let alone your profits because they've added so many fees... too bad so sad.
And if you don't like it, you can go to arbitration in Oregon and spend even more money to do that.