Has anyone dealt with Prem Singh & Sons, Inc.

[Malcolm Ovenden]

I've been approached by Prem Singh of Prem Singh & Sons, Inc. of NY about funding my flips. He is offering 100% financing at 6%, but the catch is that I have to pay a loan origination fee up front before I can get approval.  This sounds suspicious to me. Anyone have dealings with this lender?

[Kyle J.]

Never heard of them, but you are right to be suspicious. A loan origination fee paid prior to your loan even being approved is a red flag, and something often seen with scammers.

Not to mention that real private lenders are simply not out there randomly approaching strangers on the internet and begging to loan them money at 100% financing and 6% interest, especially when they haven’t even seen the details of the deal yet. That’s just not realistic, or how it really works.