Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 6 years ago,

User Stats

8
Posts
8
Votes
Barry Inge
8
Votes |
8
Posts

over come fear when dealing with a private hard money lender

Barry Inge
Posted

A few Months ago I was looking into actually purchasing this property and I didn’t have the funds to cover the purchase of the property. I began to look into a hard money sources and the Hardmoney lender Seemed to legitimate and we begin to go through the process and we got to actually making a payment in the payment was 1250.  Initially I paid the 1250 then I had to pay an extra $200 contract fee then after paying the $200 attorney free, and he requested a final fee of $400.  It seemed like every time I paid something there were there was always something else to be paid and I eventually I stop paying,  never got the funding lost the deal. Now I am skeptical about Hard  money lending and confused about what is the true process. Has anyone had any fear of hard money lenders and what were they? 

Loading replies...