Newbie how do I Screen Private Lenders so I don't get Scammed

[Ivy Hailey]

I obtained an offer on social media after I marketed a property. A individual commented on my post stating he was a private lender and that he is a national private lender and offer me a great really great percentage for using his money. What is crazy is that I have been hoping to find private lenders. The universe works in mysterious ways.

However, I was wondering if you never have dealt with a private lender, how do you screen them so you know that they are legit. I don't personally know anyone that know this guy. All assistance on the is welcomed with open arms.

Peace be unto you,

Ivy

[Rick Pozos]

Do NOT trust anyone trying to lend or give you money on social media or anywhere on the internet. NEVER. EVER.

Go to your local investor clubs and meet some lenders there. Network with other investors and ask them who they have used. Use referred lenders. Most of these scammers on the internet will tell you everything that you want to hear and then ask you for $200 or $450 for an appraisal fee. Once you pay the "appraisal fee" or "processing fee", that will be the last time that they take your call if you even have a phone number for them.