Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
New Member Introductions
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 6 years ago,

User Stats

2
Posts
5
Votes
Jen Siegrist
  • Flipper/Rehabber
  • Loveland, OH
5
Votes |
2
Posts

being approached by private lender?

Jen Siegrist
  • Flipper/Rehabber
  • Loveland, OH
Posted

Hello all,

I'm fairly new around here but I've been inhaling the information since stumbling upon this group. I did my first deal as a "life Hack" at the beginning of last year. I purchased a HUD home for $55 and had a 203K loan bringing it up to $86 in a neighborhood where the average was $115-120. I also did a LOT of the work myself and put in another $12 out of pocket. In the end, I sold for $130 about 15 months later and purchased the next house conventional with a large chunk of the proceeds as the down payment.

   Somehow an investment group has spotted the above deal and, I suspect they don't know the 203k or out of pocket part, they've started sending me initial approach snail mail to use them as a lender.  Now, I don't trust anyone and the above really was a stroke of well informed luck but, I'm wondering if anyone here has worked with this Dominion Financial Services and what do they think of them.  This current purchase has me strapped for the moment but I'd like to try another deal while I'm finishing up the work on this current house.  The plan is to stagger-step the living situation/life hacking much in the same way one would stagger cds maturing at the bank.  Any thoughts?

Oh! Also, I've been a fraud victim for a good 20yrs.  It's kinda an issue when strange lenders approach me???

Loading replies...