How to Screen/Work with Private Lenders

[Christopher Lawrence]

Hello BP Family, I've been meeting a lot of great people in this industry. I recently met a couple of private lenders that offer 4% & 5% rates with a six-month deferred payment plan with no pre-payment penalties. I've never done a deal with a private lender involved and I wanted to know how do you verify their authenticity? We have been talking for months now and he is willing to lend 100% of the funds needed for my deals. Of course, there are fees involved in processing the loan but he is not willing to complete the deal through a Title Company or my Attorney. This is what I suggested to ensure a smooth and secure transaction for all parties. Sounds like fraud to me but I'm not sure how the private lender sector works. Any info regarding this would be of great help. Thanks in advance.  

[Jay Hinrichs]

YOU ARE BEING SCAMMED BY A FAKE LENDER  FULL STOP.

NO LENDER PRIVATE OR OTHER WISE LENDS 100% AT LESS THAN BANK RATES FOR FIX AND FLIP.

THIS WOULD ONLY BE REAL IF THIS WAS A CLOSE FRIEND OR RELEATIVE.  IT CERTAINLY IS A CROOK SCAM ARTIST WORKING SOCIAL MEDIA  ETC.

OF COURSE THEY DONT WANT A TITLE COMPANY OR CLSOING ATTORNEY THEY ARE GOING TO STEAL YOUR UP FRONT DEPOSIT MONEY THEN GHOST YOU AFTER THEY HAVE STOLEN ALL THEY CAN FROM YOU.

THIS IS THE NIGEREAN PRINCE SCAM OF REAL ESTATE LENDING AND FRANKLY HAS BEEN GOING ON FOR DECADES ACTUALLY .  GOOGLE REMINTON FINANCIAL  INGRID ROBINSON AND WATCH HER AMERICAN GREED EPISODE TO SEE HOW THESE BAD ACTORS WORK. REMINGTON WAS VERY SOPHISTICATED I SUSPECT YOUR JUST INTERACTING WITH A LONE WOLF THEIF.