When APPLYING for HARD MONEY....BEWARE!!!

[Esaul Viramontes]

I have been shopping for a hard money lender religiously for a prospective property...going on 2 weeks! Hell, I even put out an ad in the BP marketplace. Today, out of nowhere, I receive a long text.  It asked me what terms I was needing and an email address where this person could send over an application. Needless to say, I was thrilled! As soon as I received the email, the person asked me to fill it out ASAP and return it...ASAP! I gave it a once over and felt skeptical right off the bat for the following reasons:

1. The email came from a personal account.

2. The application asked for my age.....TWICE

3. The App was Signed by a BILL BIGGS and signature did NOT remotely resemble a BILL BIGGS.

The app said it was from an "Affiliated Mortgage Lending" company based out of Texas. I looked them up on the BBB and Yes that company exists AND with an A+ rating..HOWEVER this scam artist could have easily copied and pasted the info so as to give it "legitimacy".

I texted this *** HAT back and called him out on his nonsense.....All i have received is silence...I have Vowed to text this A-HOle night and day for this attempt into duping me..If ANYONE receives a text from (770) 847-9792  DONT FALL FOR IT!!!! Im LUCKY i didnt get blinded by my Happiness in FINALLY getting a response....and by posting this I hope to open peoples EYES in the real life dangers and EVIL out there

[Lew Payne]

As I've grown old, I've grown wiser (my wife calls it skeptical).  I share similar frustrations from the other end of the coin, from...

1) People writing wanting to know if I'll fund their deal, claiming that they are real estate investors.  When I ask them to provide two years worth of property addresses, dates and amounts (normal business due-diligence), they tell me this will be their first deal.  Hint - you're not a real estate "investor" if you've never invested... in much the same way as the publisher of a book on neurosurgery is not a qualified surgeon.  It's fine to be new - but it's misleading to misrepresent yourself for something you're not.

2) People writing wanting to know if I'm interested in funding two or three 7-unit buildings (I received this message today - after they read a post where I complain about how novice investors seem to not be able to provide useful information when communicating)... with no further information.  I'm supposed to either guess, or pry it out of them.

3) Today, as a result of my post and being online so much (I worked from home this time), I received a chat message asking if I'd like to fund a deal... no further information!  When I replied with "email me the details" (I was trying to be nice), the person replied with, "I think you'll think it's a very good deal" - as if they're able to read my mind.

4) I received a message from someone claiming to be an investor in FL, wanting to know if I'd fund there (which I do).  After I replied, he then asked that I tell him what I'm interested in funding!  In other words - represents himself as an "investor" but I have to tell him what property I'd buy!

It's a frustrating day, all around... from both sides of the coin, it appears.