FAKE LENDERS HOW TO SPOT THEM ON BP FACEBOOK ETC

[Jay Hinrichs]

Wanted to share an attempt from a fake lender that i received yesterday on BP PM.  However same fake lenders troll Facebook and linkdin

the first contact is just a simple Hello..
then Once you respond  they come back with Hey i am a private lender I have money at 5%

ME  oh gee great what are the terms  and by the way I have a 875 fico score.

Him:  credit not necessary but that is nice.. we just loan on the deals.

Me :   application fee ?

Him:   NO  no application fee's  it project specific.

ME: how do i get started

Him:  send me your email or phone number and i will send you the PPI paper work

ME:  not doing that 

HIM: it OK i will show you my picture with my ID to prove I am not a fake.

ME: still not doing that.

HIM:  all i need is the PPI filled out

ME:  whats PPI 

HIM:  Private payment insurance

ME:  OK which insurance company is issuing this  ( I know there is no such thing )

HIM:  Oh its not an insurance company

So blah blah  back and forth and he took a BP members name reversed it ..

Oh and the PPI to get started is 800.00 need that first before we can approve you and once we have that then your approved for all your projects.. 
so beginners or first time borrowers that are new.. Please realize there is no 5% money unless its an owner occ house.. and dont fall for these fake lenders

[Jason D.]

@Jay Hinrichs i love the lender that advertise $5000 - $50mil at 5%. No lender is doing that range of deals. They are almost always followed by an @gmail email address. Most are pretty obvious to anyone with even a little experience, but if you throw enough **** at the wall, some will stick.