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Updated over 4 years ago,
Will hard money lenders or angel investor ask for fees up front?
Needing some help. I have come across a few lenders, both hard money and angel investors, that are willing to invest in my "project". I've been asked by all of them, so far, for 1-2% of the total loan up front. Since it's a high dollar amount I am asking for the fees range from $5,000 - $14,000, to be paid, up front, my account to theirs. Having a hard time with it. I've dug deep enough on a few of them to figure out it was a scam, but the few left .. I can verify a LOT of details, but I am still having a hard time with it. I'm new in the business, so I hate to learn the hard way on such a high dollar amount.
ANY help on this would be HUGELY helpful.
THANK YOU SO MUCH