Review of American Private Money Group, FMC Lending

[Michael Courtenay]

Has anyone lent to American Private Money Group, FMC Lending who operate out of Burlingame, CA? I'm considering lending to them for RE deals and would like to know if anyone has had any dealings with them. If so, how was the experience?

[Gary A.]

UPDATE:

I tried to fund 2 loans with Andrew at American Private Money Group. Andrew and his company are incredibly UNPROFESSIONAL and I would recommend STAYING AWAY from him and his company. 

He emails out potential properties to be funded and the first person to reply with a filled out order form will be funding that loan. On 2 separate occasions he let me know I was the first person to submit my order form, letting me know I would fund each loan. He didn't respond to me after that and ignored my emails. He finally replied a week later saying there was a title issue on each property and he was waiting for them to be corrected. I called hgim to speak about it verbally and when I did he became aggressive with me on the phone and denied any wrong doing. He then sent me other properties to fund (each one he sent me were terrible properties that no investor had any business funding. I took his word for it on the title issues and waited for them to be resolved. I checked each property a couple weeks later on Property Radar and saw that they were funded by other people. There obviously wasn't any other title issue and he was putting me off, which I have no idea why. This happened twice. A professional Trust Deed investment company would just let me know that they had preferred investors or be straight up with me on the funding process for whatever was going on. He did not do this.

When you are investing large sums of money, it's important to work with someone who you can trust and rely on. Andrew and his company, American Private Money Group are not reliable or trustworthy. DO NOT work with them. You won't know what you are getting yourself into.