JUST 2500 TO MEET THE HARD MONEY GUY??

[Nasar Elarabi]

I had a guy I was introduced to through another local investor. Anyway the guy is basically a Gate keeper for a lender that lends at 100% at about 5.5%. I forgot how many points. Anyway he ask me all these questions about my finances, deal and experience. I feel out the excel spread sheet. And then boom he turns around and ask for 2500 for me to get the loan package. Yes 2500 American dollars. I said dont you get paid when the loan closes from the lender. He said no I have to pay him up front. lol I rather go through local Hard money lenders for money. Oh yeah 2500 was the hook up price he usually charges 3500.. lol I was born, but not yesterday. Is this what the GURU's are teaching now Sell your Hard Money contacts? is this what's hot in the streets?

Has anyone ever had this happen to them as well?

[Bill Gulley]

I'd report the guy for brokering loans after I got the facts. I'd be saying take one flying leap. You can find the lender at the courthouse filing deeds of trust. :)