Looking to Verify Private Lender

[Nathan R Andersen]

I'll be honest, I new to the private lender idea. I'm trying to vet a lender and this is all I can find. I have the LLC filing, their website, and other than that I'm not sure if I'm able to find anything else (or should be able to) to vet this private lender. My initial hesitancy is that the rates look really good, which gives me the "too good to be true" feeling, but I've seen other people find good rates as well. Any help in this endeavor would be much appreciated.

Missouri State Filing

Website

[Jeff S.]

With the prime rate currently at 6.25% do you actually think that any private lender will lend you money at 5% for 25 years? Their cost of money will be higher.

This is a scam, @Nathan R Andersen. A scam.  You can look up all the documents you want. It doesn’t mean the website or the representative you are speaking to is legit.

Do yourself a favor and stay off the web when looking for money. There are way too many scammers out there and it's almost impossible to anonymously identify the crooks. If it's completely out of the question for you to go to a local REI club, call the owner and ask them for the names of some lenders they know who regularly attend their club. This is a business based on relationships. Go to lunch and get to know one another.

Perhaps this is regional, but the very few REI clubs out here that charge a membership fee will allow you to pay by the meeting. Miss a few meetings and this is the cheaper way to go anyway. Plus, as much as I don't like them, a lot of clubs still meet using Zoom. Certainly, there is a way for you to attend these?