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Updated over 3 years ago on . Most recent reply

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15
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2
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Srikanth Vadlakonda
2
Votes |
15
Posts

Why all these private lenders communicate from unofficial emails?

Posted

I am a newbie to RE. I am getting a lot of private lenders' emails every day. Most of them send emails from official email addresses and no contact information is mentioned. Are they legit to talk to them? or scammers?  Gurus, what do you guys think? 

What kind of questions can ask to find legit or not? 

Most Popular Reply

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491
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293
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Jesse Rivera
  • Lender
  • Long Beach, CA
293
Votes |
491
Posts
Jesse Rivera
  • Lender
  • Long Beach, CA
Replied

Because in most states, you don't need a license to do commercial loans (in CA you do). So most of the solicitations are just sales people, that don't know a lot about loan, or even investing. Their job is to get you in the door, and then they will get paid if the loan closes. More of a buck shot approach.

Find a reputable, experienced (loans and investing) loan officer that does hard money. I would start with a mortgage broker.

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