Private Lender - Does this sound right?

[David Bermudez]

I contacted a person claiming to be a private lender off a local real estate Facebook page and asked for references after I asked some questions and he replied back with a standard “canned” email response.

I asked for current references from investors.

This was the reply:

“I am sorry to say that it is against my company's modus operandi to disclose my clients' information. Most of my clients have complained that they receive calls from unfamiliar people thereby putting them to unwanted risk. I wish I could do that to prove how committed I am to do business with you. Kindly bear with me.

Thanks for your understanding,”

I’m thinking no bueno

[Mike Malloy]

You can always search for their name and business on the recorder’s site for any county where you think they are operating. You should see some mortgages pop up unless they are lending from differently named accounts (very possible in the case of SDIRAs or a structured company). You can also check the court records to see if they have had issues with anyone.  These should both be almost standard practice before working with anyone new.