Concerns with Private Lenders

[Nick Messer]

Hey BP community. I could really use some advice here. I have reached out to a few people on LinkedIn that stated they were private lenders. Like any sound businessman, I am looking to find a quality money source that I can build a relationship with. The loan terms for each of these lenders are phenomenal (but hey, it's not my place to tell someone how much to charge). Here's my concern: it seems like each one has a last name first and first name last, the loan criteria for each one looks very similar, and for the three that I have talked to so far all sound alike (if not the same person) and do not sound like they are local. Now don't get me wrong, I couldn't care less where the money is coming from (to a degree), but I do know that there are a lot of scams running around. Another red flag is that each one wanted me to fill out a loan app a quickly as possible to "get the process started". They all said we lend on anything and some even said they will loan up to 100% LTV. There's not a lender I know that would expose their capital to that extent. I have not sent any information to anyone yet as I am not trying to just jump into a loan. I can do that at a bank if I am so eager to leverage. But I am looking for a lender to work side by side with, and not just a bank with its cookie cutter products.

Does anyone have any advice for vetting lenders? I have requested to video chat with each one without one agreeing to do so. So that tells me a lot right there.