I think I have a private lender and don't know what to do now!

I think I have a private lender and don't know what to do now!

Real Estate Investor · Mooresville, NC · Member since 2017 · 6 posts · 1 vote

Hello fellow BiggerPockets family.   I'm a newbie and I recently have found myself in a weird situation.  I have a private lender that is interested in loaning me money to help secure real estate properties to flip to potential cash buyers in response to a post of another investor community where I was requesting assistance from "Private Lenders and/or Transactional Lenders".  Here's the thing that scares me: the person claims to be from a REAL bank despite no real contact info being shown other than a gmail address and their first name and last name that they've been using to communicate with me.  My questions are as follows: how do I verify their identity? Do I politely ask them for some kind of contact phone number with an extension # that I can reach them at?  Maybe a bank address to verify that they are CURRENTLY employed with them?  Do I just randomly call a branch of the bank and just ask to speak with a private lender there?  Do banks EVEN HAVE private lenders?  (Banks have different branches and with each branch, different loan officers/lenders sooooo)  Any advice anyone? Anyone?  By the way, it's great to meet you all and I hope you all have a Great Week!

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Keaau, HI · Member since 2017 · 15 posts · 6 votes
9y
John Bunyan I'm not sure but thinking not because ive seen several posts from members that didn't get their questions answered and it just sits there soo..go figure lol
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  • Real Estate Investor · Mooresville, NC · Member since 2017 · 6 posts · 1 vote
    9y

    Now that I think about it...  I should have posted this in the "lenders" section of the forum.

  • Keaau, HI · Member since 2017 · 15 posts · 6 votes
    9y
    John Bunyan hello there! Just wanted to welcome you to BP. Sorry cant answer your question but yeah maybe you should post it in a different category. Good luck!
  • Real Estate Investor · Mooresville, NC · Member since 2017 · 6 posts · 1 vote
    9y

    @Lovely T. It's great to meet you too and thanks for the advice!  By the way, is there a way to DELETE a forums post that may or may not have been posted in the wrong/incorrect category?  (just curious)

  • Keaau, HI · Member since 2017 · 15 posts · 6 votes
    9y
    John Bunyan I'm not sure but thinking not because ive seen several posts from members that didn't get their questions answered and it just sits there soo..go figure lol
  • Real Estate Investor · Mooresville, NC · Member since 2017 · 6 posts · 1 vote
    9y

    @Lovely T. thanks again! quick question... do you think we can "connect"? I've always wanted a Hawaiian friend before!  B-)

  • Keaau, HI · Member since 2017 · 15 posts · 6 votes
    9y
    John Bunyan sure lol
  • Marietta , GA · Member since 2015 · 25 posts · 0 votes
    9y

    I don't think bank have private lenders.  Even if an employee of a bank has money to loan, you still need a phone number to talk to, make arrangement to meet in public.  Sound a bit fishy to me. 

  • Mindy JensenPro Member
    BiggerPockets Money Podcast Host · Longmont, CO · Member since 2014 · 7k+ posts · 10k+ votes
    9y

    @John Bunyan , simply put, if a legitimate lender from a "real" bank is contacting you, they will not be using a gmail account. Period.

  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    9y

    @Mindy Jensen  this person is being played  simple as that.

    first off bankers don't solicit business.. unless your a very well established up and running company, and at that they may call on you.

    for real estate like this no way.

    Private bankers exits in each of the big banks handling those with multiple millions in liquidity and securities.. those exist..

    But not private lenders working for a bank..

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