Question Regarding Legitimacy of Lender

[Andrei Wogen]

Hello! 
I am a newer member here and so I apologize if this question has been asked before but I am wondering if anyone has any knowledge or advice on a lender I am looking at using for a rental property purchase and whether or not the lender is legitimate or not. The lender is SEABROOK INVESTMENTS, LLC out of Edmunds WA (according to Google and their website). I have contacted them for a quote already and have gotten correspondence back (in pretty quick time too). They are offering a loan with my requested amount (80K) over 25 years (as requested by me). However the following two items included in one of the emails back from them is what I am wondering about: (1) "We charge just the loan general expenses fee (It's negotiable & 100% refundable) which is very cheap & the only feed needed to complete the loan process" and (2) "Application/expense fee which is 1% of the loan" which is under the "Terms of the Loan".

Thanks!

[Kyle J.]

@Andrei Wogen  Never heard of them.  However, if this is the website you're referring to (which I just found on a Google search), then you should avoid them as it's clear they're not a real lender. 

I go into detail about how to spot these fake lenders in other posts I've written, like in my response under this thread here: How do I spot scam lenders?

(Or in a eerily similar post I responded to about an hour ago here: Private Lenders/Hard Money Lenders)

I also see that someone else previously asked about Seabrook Investments in this post from a couple years ago: Private Lender Scam?

You can read my other posts for what to look out for on these types of things, but I'll just tell you that no legitimate private/hard money lender is offering $100 million dollar loans for 25 years at 4% interest:

(They spelled "million" wrong by the way.)

Just for the fun of it though, I ran a search on their "business" address listed in the "Contact Us" section of their website.  And then pulled a Google street view photo:

Does this look like the bustling office of a company that's done thousands of loans and can easily whip out a $100 million+ loan in a matter of days?

But for anyone who's still interested, here is their process directly from their website:

Well, that clears that right up, no? Lol.

On a serious note, the scam here, like with most, is to get you to pay an up front loan origination fee (usually 1%), at which point you'll likely never hear from them again.

So save you're hard-earned money and ignore any lenders who contact you out of the blue online. There's just too many scammers out there preying on would-be investors and trying to take your money.