Craigslist hard money lender

[Daron Williams]

Has anyone ever used a Craigslist hard money lender? I found a 3 bedroom 2 bath for $10,000 and I'm going in the morning text we do the due diligence and I'm thinking it's only going to need about 15,000 if that in repairs.. the acid after market value should be anywhere between 75,000 and 100,000.. I reached out to a lender on Craigslist and they replied back that they would love to fund my first flip to let them know once i have it under contract? I contacted 5 hard money lenders and they are the first ones that have responded..

[Paul Smythe]

Could they be legitimate? Sure.

Would I trust any hard money lender on Craigslist enough to do a deal? Probably not. You'll get burned more often than not trying things like that.

Also, a 3/2 that you buy for 10k, fix for 15k, sell for 75-100k doesn't really sound right. A house doesn't cost $10k unless it's ready to be knocked down or is in a terrible area.

I would be very careful with everything you're doing here. I'm not saying definitively that it won't work, because I have only a little information to go off of, but there are some red flags for me.